News

Three Australasian banks to use Carreker cash management

August 28, 2002

DALLAS -- Carreker Corporation (Nasdaq: CANI), a supplier of cash management software and consulting services for the financial industry, says it has signed agreements with ASB Bank, Bank of New Zealand and an unnamed large Australian bank to provide its Integrated Cash Operations Modules (iCom) to aid in the management of their cash inventories.
 
According to a news release, iCom uses demand-based inventory management techniques to identify a daily cash activity profile and determine the optimal inventory, order and shipment amounts for cash at branches, ATMs, transportation providers and vaults. It interprets and imitates historical cash usage data to define customer behavior and adjusts for variables to forecast future customer demand. In addition, iCom provides multiple levels of customized alerts to prevent cash outages.

Brian Evetts, Carreker's managing director of Cash and Logistics, said in the release, "The goal is to achieve the right balance of cash available for withdrawals -- taking into account the demand fluctuations for locations, the time of day and days of the week -- and make cash available for investing in other areas."