News

Ukraine bank selects OptiCash for currency management

August 22, 2010

Raiffeisen Bank Aval in Kiev, Ukraine, has selected Transoft International Inc.’s OptiCash to manage the bank’s cash-management systems and to provide cash forecasting.

“Since Transoft already serves the largest bank in Russia, their systems are in Russian, and they have a Russian-speaking staff and with our customers all over the world, they are able to handle new business environments and indeed our complexities here, in Kiev,” said Petr Krumphanzi, Raiffeisen Bank’s head of operations. Raiffeisen Bank Aval operates approximately 2,500 ATMs nationwide. The bank also owns 953 branches in big cities, provincial and community centers and villages throughout the Ukraine.

OptiCash is a currency-management solution that predicts the demand for currency at ATMs and other cash points on an individual basis. OptiCash compares the cash position and demand forecast for each individual cash point, Transoft officials said. The software is used worldwide by banks, ATM networks and armored car service providers to handle all aspects of the complex cash-management process, company officials said.

“Raiffeisen Aval Bank is an exciting addition to our global customer base, and we are proud to enroll one of our largest banks in the Ukraine into our users’ group,” said Bo H. Holmgreen, president and CEO of Transoft International, which is based in Cary, N.C.