Global reputation, local expertise and flexible solutions key criteria in selection
Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Halyk Bank, a leading privately-owned financial institution based in Kazakhstan, will centralise its cash management process to improve operational efficiency and meet the needs of customers.
The bank has implemented a full range of cash and logistics solutions from Fiserv, including Integrated Currency Manager™ for web-based cash supply chainmanagement, and Device Manager™ for automated self-service device management.
In Kazakhstan the use of cash remains common, making efficient cash management particularly strategic for financial institutions in the country.
“Our customers conduct the majority of their daily financial transactions in cash, and it is important that we are able to meet their needs to both withdraw and deposit funds at our branches and at other locations, such as ATMs,” said Zhannat Satubaldina, deputy CEO, Halyk Bank. “We selected Fiserv based on the company’s global reputation and local experience in delivering proven and reliable cash and logistics capabilities. We consider the implementation of this new technology to be a milestone in serving our growing customer base.”
In addition to enhancing efficiency, centralising cash management operations will provide Halyk Bank with a more holistic picture of cash needs by location, allowing bank staff to optimise cash levels at branches and devices based on demand.
When cash sits idle in a teller drawer or a self-service device, it is costly for the financial institution because the money cannot be used for another purpose, such as to fund a loan. However, if a customer wishes to make a withdrawal and there is not enough cash on hand the customer will be disappointed and may take their banking business elsewhere. Sophisticated technology can help banks ensure the correct amount of cash is always on hand at bank branches, ATMs, and other self-service devices.
As a result of the deployment of cash management solutions from Fiserv, Halyk Bank will be able to respond quickly to changing needs for cash at devices including ATMs, in-branch deposit machines, and cash recycling machines. The technology will also help the bank reduce risk and increase network availability while lowering the bank’s cost per transaction and cost per self-service unit.
“Halyk Bank turned to Fiserv to help create a centralised currency management process that optimised staff across its entire organisation,” said Lee Cameron, managing director, EMEA, Fiserv. “We look forward to working with the bank to help them maximise their new cash management technology and achieve their goal of enhanced efficiency.”
In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.