News

UK's Nationwide to use Carreker's cash management

June 6, 2002

DALLAS -- The UK's Nationwide Building Society will implement Integrated Cash Operations Modules (iCom), Carreker Corporation's Internet-enabled cash inventory management software, for its 681 branches and 2,000 ATMs, according to a Carreker release.

According to the release, iCom uses demand-based inventory management techniques to identify a daily cash activity profile for each cash point or site, then determines the optimal inventory, order, and shipment amounts for individual branches, ATMs, transportation providers and the vault. It also interprets and imitates historical data to define customer behavior and adjusts for variables to forecast future customer demand, and provides multiple levels of customized alerts to prevent cash outages.

Brian Evetts, vice president and managing director of Carreker's Cash Solutions, said in the release that iCom can help financial institutions bring down cash-related costs by 20 percent to 40 percent in the first year of implementation.