News

Ukraine's UniCredit Bank taps Fiserv for currency supply chain management solution

August 1, 2013

UniCredit Bank Ukraine, part of the multi-national UniCredit Group, has chosen Fiserv and its local partner, Mellon Ukraine, to implement Fiserv Integrated Currency Manager to optimize cash reserve levels and maximize transportation capacity for the FI.

Integrated Currency Manager is a web-based cash supply chain management and optimization tool that automates precise cash forecasts for multiple cash points, including ATMs, branches, vendors and vaults.

The system combines complex forecasting functionality with historical trends to reduce currency outages and emergency deliveries to restock empty ATMs. It also optimizes transportation schedules.

Through accurate forecasting, the solution eliminates excess currency inventories, increases the availability of capital for investment and ensures that cash points are stocked, Fiserv said in a news release.

"In a country with high interest rates, idle cash, outages or overages can be very costly," said David McLaren, Fiserv business development director in EMEA for cash and logistics. "Fiserv consultants understood the existing processes that were important to UniCredit along with local operational requirements, and created a solution that allowed these to be managed more effectively and efficiently."

"We have already put quite a lot of effort into successfully reducing our total ATM cash-related costs," said Valeriy Lapin, a self-service management professional at UniCredit Bank. "[O]nce we have fully implemented Integrated Currency Manager, we expect that we will be able to achieve even better results in cost optimization, while at the same time ensuring maximum cash availability for the customers. We also expect the advanced management information will help further improve performance and reduce costs."

Read more about vault cash and cash management.