First Ukrainian International Bank (FUIB) has deployed Fiserv’s Integrated Currency Manager tool to address and manage cash reserve requirements across its network.
The new technology will enable the lender to optimize its cash management and minimize operational expenses, according to the technology provider.
As per terms of the agreement, Fiserv and its local execution partner, Mellon Ukraine, has finished implementation of the technology at the bank, subsequently decreasing the operational cash reserves for FUIB’s branch and ATM network.
FUIB operations deputy chairman Tomasz Wisniewski said that the bank is determined to develop its performance indicators through process improvements and operating expenses optimization.
"We expect implementation of the ICM cash flow management system to decrease the cash balances in cash offices and ATMs by at least by 15 percent, and to help cut operating expenses relating to cash transportation by 10 percent," Wisniewski added.
Managing a network of 160 branches, FUIB trades as a privately owned bank, and provides retail, corporate, and investment banking services in the country.
Fiserv offers payments, processing services, risk and compliance, customer and channel management, as well as business insights and optimization to financial services industry.