Transoft International, Inc.
First Citizens Bank to implement latest version of Transoft’s OptiCash ATM & Branch Currency Management System
Most recent release provides enhanced management reporting, new simulation features, improved processing capabilities and additional cost reductions
Cary, N.C. – June 19, 2007 - Transoft International, a leading provider of currency supply chain management solutions, announced today that First Citizens Bank based in Raleigh, N.C., has elected to upgrade to the latest version of Transoft’s OptiCash currency management software. The implementation of OptiCash version 6 will enable First Citizens to take advantage of the many new features now available. OptiCash has been providing sophisticated cash management for the bank’s ATM and branch networks for more than five years.
A comprehensive currency management software solution, OptiCash automates cash forecasting, cost balancing, ordering, monitoring, expense tracking and more for the bank. OptiCash uses First Citizens’ historical demand data and applies statistical algorithms to cost-optimize ATM and branch cash levels. In addition, OptiCash takes into account seasonal fluctuations, calendars, events and those trends that influence demand for cash to ensure accurate forecasts and maximum network availability.
The new capabilities in OptiCash which include enhanced functionality, improved management reporting, innovative simulation tools and faster performance have proven to result in even greater recurring cost savings for OptiCash users.
“Transoft's OptiCash and OptiNet solutions have enabled us to effectively manage currency in our branches,” said Martha Church, senior vice president for loss prevention and currency management at First Citizens Bank. “With the 6.0 upgrade, our focus will be on fine-tuning the ATM network. We are excited about the improved reporting and trending capabilities of the new release and will carefully monitor the results.”"It has been a pleasure working with the members of First Citizens Bank, and we value the relationship that has been established over the years,” stated Bo H. Holmgreen, president at Transoft. “They have been influential in the ongoing development of our products, and we are excited to have the opportunity to be of continued service to their organization.”
About First Citizens: Founded in 1898, First Citizens Bank operates 340 branches in 200 cities and towns in North Carolina, Virginia, West Virginia, Tennessee and Maryland. Headquartered in Raleigh, N.C., its parent company, First Citizens BancShares Inc., has $15.9 billion in assets. First Citizens Bank is committed to providing superior financial services to individual customers and small to mid-sized businesses. For more information, visit firstcitizens.com or call toll free 1.888.FC DIRECT .888.323.4732). About Transoft: Transoft International, Inc. is a leading provider of currency supply chain management software solutions for the banking industry. Transoft products, OptiCash, OptiNet & OptiVault, have been developed by experienced cash management professionals to efficiently and cost-effectively handle all aspects of the complex cash management process. In use worldwide by Banks, ATM networks and Armored Car Service providers, Transoft solutions are generating significant recurring cost savings for ATM, branch and vault networks. For more information please visit www.Transoftinc.com.