BS/2 Provides Cash Monitoring tools for VTB Bank in Georgia to Improve Cash Efficiency
VTB Bank is one of the leading banks in the Georgian financial market. With almost 15 years in business, it established itself as a modern financial institution, introducing innovations and improving the quality of services. Since the beginning of 2019, technical support for all bank self-service devices has been entrusted to BS/2 Georgia. Cash flow is monitored by the Cash Management.iQ software solution developed by Penkių kontinentų bankinės technologijos (BS/2) banking technology company of Penki Kontinentai Group.
Cash Management.iQ enables real-time monitoring of cash of each cashpoint and the whole network. The .iQ family product makes cash demand forecasts of various self-service devices (ATMs, kiosks, etc.) and plans storage facilities’ operations based on statistical data.
“VTB Bank (Georgia)” was interested in our product. During the pilot project, it was decided to use not all its capabilities but only cash balance monitoring and forecasting. Of course, we offered flexible conditions both in terms of the functionality and payment,” says BS/2 Georgia Executive Director Andrej Smirnov.
According to him, Cash Management.iQ provides cash ﬂow automation and maintains the optimal amount of cash, reducing the administration cost. Among the additional functions of the solution is the determination of the CIT team route and the amount to load for each of them, allowing them to plan the optimal routes for the CIT services and reduce logistics costs. Financial institutions and collectors, and retailers can use cash Management.iQ to ensure the timely export and delivery of cash to their stores.
Today Cash Management.iQ provides cash monitoring of almost 100 ATMs of VTB Bank. BS/2 Georgia provides technical support for the bank’s equipment. Overall, the company provides technical support for more than 1,100 devices throughout the country.
“The actively developing Georgian payment market is in the area of interests for BS/2. In May, Tbilisi will host the Europe Cash Cycle Seminar, where our company’s representative will deliver a report. At the exhibition booth, we will showcase our innovative solutions,” says Andrej Smirnov.