News

New Transoft product predicts weather's impact on consumer cash demand

November 14, 2004

CARY, N.C.  -Transoft International Inc. has released a new currency-management solution that helps banks gain insight into how weather impacts cashpoints. According to a news release, Transoft's OptiCa$h/Weather was introduced at the BAI's Retail Delivery Conference 2004 in Las Vegas.

The new OptiCa$h/Weather module is the latest addition to OptiCa$h  -a currency management solution  -defining a direct integration between electronic weather forecast services and currency management. The release noted that Transoft polled some of the biggest banks in the world using OptiCa$h and found that following solid-cash-demand forecasting and cost optimization, the cost impact of last-minute weather changes remained significant.

OptiCa$h/Weather allows users to anticipate the weather impact on the cash demand at individual cashpoints and provides subsequent cost optimization, with optimal cash levels, for different weather conditions. Basically, OptiCa$h helps banks prepare for those weather events by making cost-effective decisions, the release added.

"The intention is to allow for more informed decisions by users on what drives up or down the cash demand," said Brian L. Lee, vice president of technology at Transoft, in the release. "For instance, while rain will slow down the demand for outdoor ATMs, it can give a boost for indoor or drive-through ATMs."

The implications also can be severe with extreme weather changes, the release noted. In those cases, OptiCa$h will display pre-emptive alert actions for cashpoints that will be affected by the forthcoming severe weather.