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December 17, 2012

Ukrainian Bank Selects Fiserv Currency Supply Chain Management Solution



Technology brings both bouquets and brickbats for modern day companies. On the one hand, businesses reap the benefits of various technological advances and save on expenses and labor.

On the other hand, customers have begun to expect improved services at lower costs from these companies.

Companies in financial sector, for example, understand that customers these days want an increasing number of cash points, which include vaults, branches, smart safes, ATMs and more.

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Providing all these facilities is not easy. First Ukrainian International Bank (FUIB) in Ukraine therefore selected Fiserv to deploy Integrated Currency Manager. With this implementation, FUIB looks to manage cash reserve needs across its network.

Fiserv has joined hands with its local partner Mellon Ukraine for this project. According to the company, it has successfully completed the initial phase of the rollout, which has resulted in the reduction of operational cash reserves for FUIB’s branch and ATM network.

Fiserv’s Currency Supply Chain Management Solutions can eliminate processing problems and point solution obstacles that affect users who are managing cash and other assets.

“New and increasing pressures in the financial services market present unique challenges for financial institutions like First Ukrainian International Bank who are operating and managing a cash supply chain,” said David McLaren, business development director - EMEA, Cash and Logistics, Fiserv. “Demand for cash availability must be balanced with organizational mandates for increased capital availability, cost reductions and regulatory compliance. Integrated Currency Manager from Fiserv provides the comprehensive cash forecasting and management solution required to ensure world-class customer service without sacrificing profitability and control.”

The company’s financial solutions are picked up by various financial customers all over the world. Recently, the company announced that BSI Financial Services (BSI) chose its LoanServ platform. Operating from Irving, TX, BSI provides business process outsourcing and specializes in default management, mortgage subservicing, due diligence, loss mitigation, Real Estate Owned (REO) and quality control services.



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Edited by Braden Becker
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