UniCredit Bank in Ukraine Selects Currency Supply Chain Management Solution from Fiserv

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UniCredit Bank in Ukraine Selects Currency Supply Chain Management Solution from Fiserv

  • Integrated Currency Manager from Fiserv is a web-based cash supply chain management and optimization tool that automates cash forecasts
  • Flexibility of solution and Fiserv local expertise key to selection process
  • Bank will be able to minimize the amount of idle cash in its network, reduce the cost of providing cash to its customers and increase the value of cash it can invest

BROOKFIELD, Wis.--(BUSINESS WIRE)-- Fiserv, Inc. (NAS: FISV) , a leading global provider of financial services technology solutions, along with its local implementation partner, Mellon Ukraine, announced today that UniCredit Bank (PJSC "Ukrsotsbank"), based in the Ukraine and a member of UniCredit Group with financial networks covering 22 countries in Europe and 27 additional countries worldwide, has selected Integrated Currency Manager™ to optimize the bank's cash reserve levels and maximize transportation capacity.

"We selected Fiserv because it was able to deliver a solution that met our unique requirements," said Valeriy Lapin, Professional, Self-Service Management, UniCredit Bank. "We have already put quite a lot of effort into successfully reducing our total ATM cash-related costs, and once we have fully implemented Integrated Currency Manager, we expect that we will be able to achieve even better results in cost optimization, while at the same time ensuring maximum cash availability for the customers. We also expect the advanced management information will help further improve performance and reduce costs."

Integrated Currency Manager from Fiserv is a web-based cash supply chain management and optimization tool that automates precise cash forecasts for multiple cash points, including ATMs, branches, vendors and vaults. It combines complex forecasting functionality with historical trends to reduce currency outages and expensive emergency deliveries to restock empty ATMs. It also optimizes transportation schedules. Through accurate forecasting, the solution eliminates excess currency inventories, increases the availability of capital for investment and ensures cash points are stocked.

"In a country with high interest rates, idle cash, outages or overages can be very costly," said David McLaren, business development director, EMEA, Cash & Logistics, Fiserv. "Fiserv consultants understood the existing processes that were important to UniCredit along with local operational requirements, and created a solution that allowed these to be managed more effectively and efficiently. Integral to the success of this engagement was the flexibility of Integrated Currency Manager and working with UniCredit to create a solution that truly fit the bank's needs."

"The implementation of Integrated Currency Manager for PJSC 'Ukrsotsbank', a member of the well-established international UniCredit Group, marks another milestone of our partnership with Fiserv and our commitment to help our customers achieve greater operational efficiencies, profitability and cost savings," said Panagiotis Vlachos, General Manager, Mellon Ukraine.

This engagement expands on the expertise that Fiserv has in the region. Last year, Fiserv announced that it was working with First Ukrainian International Bank (FUIB) to help address and manage cash reserve requirements across its network.

Additional Resources:

About UniCredit Bank (PJSC "Ukrsotsbank")

PJSC "Ukrsotsbank" is a member of the European UniCredit Group. The Bank was established in September, 1990 and its network consists of 378 branches and 5 macro regions. It has 7.500 employees. With assets of €969,152 million, UniCredit Group is one of Europe's leading financial establishments. UniCredit Group is in 50 markets and 22 European countries and consists of more than 9,578 branches with more than 162 000 employees.

PJSC "Ukrsotsbank" began operating on the Ukrainian market under the "UniCredit Bank" trade mark on September 1, 2011, while retaining the PJSC "Ukrsotsbank" legal name. www.unicredit.com.ua

About Mellon Ukraine

Mellon Ukraine is a member of Mellon Group of Companies and was founded in 2007 in Kiev. The company provides payments solutions and outsourced services that facilitate the transactions and interactions of organizations with strong consumer business, such as retail banks, public utilities, telecommunications providers, the automotive industry and other private companies. For more information please visit Mellon's site: www.mellongroup.com

About Fiserv

Fiserv, Inc. (NAS: FISV) is a leading global technology provider serving the financial services industry, driving innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For more information, visit www.fiserv.com.


Media Relations:
Julie Nixon
Senior Public Relations Manager
Fiserv, Inc.
+1 678-375-3744
Additional Contact:
Wade ColemanDirector, Public Relations
Fiserv, Inc.
+1 678-375-1210

KEYWORDS:   Ukraine  United States  Europe  North America  Wisconsin


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