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Integrated cash optimaztion solution offered E-mail

 
NCR Corp. acquired Transoft International Inc. and will integrate Transoft's software and SaaS-based product suite and employees into its Financial Services line of business.
 
The acquisition is intended to strengthen NCR's existing cash management offering, eventually bringing financial institutions and retailers a unique and compelling integrated cash management solution. Terms of the deal were not disclosed.
 
Transoft manages cash for hundreds of thousands of ATMs, branches, vaults and retailers around the world. Its cash cost optimization software uses statistical analysis to help financial institutions and retailers optimize their cash requirements and reduce costs associated with cash handling. NCR believes that cash management represents a $1 billion segment for integrated technology hardware, software, and services solutions.
 
According to the ATM Industry Association, cash management accounts for nearly 30% of an ATM's annual expenses. ATMIA also estimates that effective cash management strategies can save a financial institution from $3,000-$10,000 a year within a branch. Transoft's software solution will combine with NCR's existing portfolio of Cash Management Consulting services and media handling self-service devices, such as ATMs, teller cash recyclers, and teller automation technology.
 
"For 18 years, our partnership with NCR has been important to us and, with the current emerging technologies in cash recycling and central bank adaptations, I believe a new era has arrived for our industry. The timing is right for this expanded relationship with NCR," says Bo Holmgreen, president and CEO, Transoft.
 
 
[This article was posted on September 18, 2012, on the website of ABA Banking Journal, www.ababj.com.]            
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