Eurasian Bank teams up with Fiserv for cash management tech

Wednesday 24 April 2019 14:43 CET | News

Kazakhstan-based Eurasian Bank has signed with Fiserv to streamline and automate its cash management processes with technology from Fiserv.

The bank is implementing a range of cash and logistics solutions to enable web-based cash supply chain management and provide real-time visibility into cash needs.

This can allow the bank to centralise currency management, giving the bank a unified view of cash needs rather than needing to piece together multiple sets of information. Staff can then more accurately forecast cash needs across the bank’s ATM and branch network based on customer demand.

When cash sits idle in a bank or in a self-service device, like an ATM, it is costly for the financial institution because that money cannot be used for another purpose, such as funding a consumer loan.

Yet if there is not enough cash in the device for a customer to make a withdrawal, there is increased risk that a customer will take their banking business elsewhere. Through technology, banks can make certain the right supply of cash is available at branches, ATMs or any other self-service devices.

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Keywords: Kazakhstan, Eurasian Bank, Fiserv, cash management, technology
Countries: World

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