News

Mexican bank to manage cash with Carreker's iCom

October 8, 2003

DALLAS - Grupo Financiero Banorte, one of Mexico's largest financial institutions, has selected Carreker Corporation's (Nasdaq:CANI) Integrated Cash Operations Module (iCom) to manage the cash inventory and transportation for its 2,300 ATMs, 1,100 branches and 50 vaults.

iCom is an enterprise cash solution that helps banks and their service providers automate the cash-ordering process and manage cash inventory levels.

Using advanced forecasting technology and historical demand-based information, iCom determines the optimal currency order and shipment amounts. The software develops a daily cash activity profile for each cash point, assists in identifying optimal cash transportation schedules, and provides pre-emptive cash shortage alerts.

According to a news release, iCom users have historically reduced their overall cash inventories by 20 percent to 40 percent while improving transportation schedules, lowering cash handling costs, and increasing the overall productivity and efficiency of the cash inventory management process.

Jose Alfonso Davalos Diaz de Sandi, Grupo Financiero Banorte's director of Operations and Banking Services, said, "Instead of generalizing on potential benefits for us, they were able to take our actual transaction history and demonstrate the kind of productivity and ATM availability improvements we could have realized with iCom. We found their approach to be highly sensitive to our particular enterprise and operating environment."

Rodrigo Silva, Carreker's regional manager for Latin America, said that Latin American banks are increasingly interested in managing their cash inventories more closely for two reasons because many Latin American countries are experiencing high transportation costs and relatively high interest rates.

And, Silva added, because many institutions have grown rapidly by acquisitions, they often have large networks of cash outlets that have typically not been optimized.

J. D. (Denny) Carreker, chairman and chief executive of Carreker Corporation said, "With our cash solutions available in Spanish and Portuguese, and development resources dedicated to the Latin American market, we are demonstrating our strong commitment to serving the needs of financial institutions in Latin America."

According to the release, Carreker provides products and services to more than 250 clients in the United States, Canada, the United Kingdom, Ireland, Australia, South Africa and Latin America.