Halyk Bank Streamlines Cash Management with Fiserv
The bank has implemented a full range of cash and logistics solutions from Fiserv, including Integrated Currency Manager for web-based cash supply chain management, and Device Manager for automated self-service device management.
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 chain management, 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.
About Halyk Bank
Halyk Bank is the backbone bank in Kazakhstan with the largest customer
base and the broadest branch and ATMs network. The Bank is developing as
a universal financial services group, which actively render a wide range
of services - banking services, insurance, leasing, brokerage and asset
management services to its corporate customers and SME.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) enables clients worldwide to create and
deliver financial services experiences in step with the way people live
and work today. For 35 years, Fiserv has been a trusted leader in
financial services technology, helping clients achieve best-in-class
results by driving quality and innovation in payments, processing
services, risk and compliance, customer and channel management, and
insights and optimization. Fiserv is a member of the FORTUNE®
500 and has been named among the FORTUNE Magazine World's Most Admired
Companies® for six consecutive years, recognized for strength
of business model, people management, social responsibility and
innovation leadership. Visit fiserv.com
and follow
on social media for more information and the latest company news.
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