Penki kontinentai wins an award for an innovative solution

ATMiQ, a business process management solution created by the company BS/2, which belongs to the Penki kontinentai group, was announced as one of the winners of the annual competition of innovations organized by the Lithuanian Innovation Centre and Lithuanian Confederation of Industrialists.

ATMiQ is an intelligent system for managing and optimizing the network of ATMs. It allows forecasting of cash requirements, scheduling of refills, and analysis of the equipment’s technical condition. This system is innovative because it is self-learning. Depending on the data collected, it changes constantly and updates its forecasts. All this enables efficient management of ATMs network and significant cost reduction.

“The system, which we created together with scientists from Lithuania and other countries, is based on the latest research in the field of artificial intelligence and agent theory. It has no equivalents in Lithuania, and in terms of its functionality, it significantly surpasses similar solutions created in other countries. We are happy that the organizers of the competition of innovations recognized its value,” Mindaugas Leonavičius, project manager of BS/2, says.

According to him, the system ATMiQ is successfully introduced in one of the commercial banks of Lithuania. Over ten banks from Western Europe, America, and Asian countries have also been interested in it.

“Large amounts of money are being kept in ATMs. Thus, the collection and replenishment of cash and its “freezing” in cash machines impose costs on the banks. ATMiQ enables maximum efficient “employment” of this money and optimization of the whole management of the network of cash machines. It is especially relevant during this global financial crisis,” M. Leonavičius explains.

The Penki kontinentai group’s solutions have taken their place among the winners of the competition of innovations, which has been running since 2005. An e-school project, the video surveillance and monitoring system ATMeye, and the system of electronic trade via interactive IP television, Penki TV, have previously received awards.

75 applications were submitted for the national competition Innovation Award this year. The companies of the country competed in the categories of Innovative company and Innovative product.

The Penki kontinentai group, which was established in 1992, is one of Lithuania’s biggest IT companies. The company’s products and services are being sold in over 60 countries in Europe, America, Asia, and Africa.