TBC Bank Has Selected the Cash Management.iQ Solution for Cash Flow Management

Published: 21 October 2019 y., Monday

One of the largest banks in Georgia – TBC Bank – has chosen the BS/2 company as a partner in solving the task of cash flow management in ATM networks and cash handling centers.

Today many financial organizations are striving to solve a problem of internal financial flow optimization. To help banks keep an optimal record of cash in self-service devices, BS/2 has developed the Cash Management.iQ software solution. The solution allows operational processes automating associated with cash flow to maintain the optimal amount of cash in the terminals, as well as reduce daily costs associated with cash turnover. Today, Cash Management.iQ is used by financial institutions in different countries.

“The bank receives information about cash balances at ATMs from the processing center. The frequency with which this happens can vary, but this information is not enough for the optimal cash distribution at ATMs and cash collection planning”, says Irakli Lomidze, Head of Operational Support Department of TBC Bank.

Cash Management.iQ software solution provides real-time information on terminals’ cash balances to give banks the opportunity for more accurate planning of cash collection time and cash amount by terminals.

During the pilot project, BS/2 specialists studied how does the bank organize the cash collection processes in detail, and then compared the data received from the processing center with the data received from the Cash Management.iQ forecasting module.

“We made efficiency calculations for the bank. It showed that Cash Management.iQ solution implementation will help TBC Bank save significant amounts of money,” says Kirill Degtyarenko, Cash Management.iQ project manager.

After the cooperation agreement was signed, BS/2 specialists carried out all the necessary work to install and configure the software. Under the project, the solution will be deployed at 573 ATMs and 157 branches. It is planned that all Cash Management.iQ implementation work will be completed by March 2020.

“We highly value the trust of our partners and we are always ready to offer them the best software products for work processes optimizing,” says Andrei Smirnov, BS/2 Georgia Executive Director. - We know the specifics of the market, as well as the internal banking processes, and this is an important advantage of our company. Our products can be adapted to the needs and requirements of a particular bank. Our professionals implement and configure the software, we provide full technical product support and train specialists on the bank side.

TBC Bank is the third bank in Georgia, where the Cash Management.IQ solution is implemented.

BS/2 has been supplying banking equipment and software to financial institutions in Georgia for more than 20 years, as well as providing outsourcing services for acquiring networks. Today 10+ large Georgian banks are among our partners.

Šaltinis: BS/2
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