Erste Bank Croatia Acquires Transoft's OptiCash

Cary, NC - 17 November 2011

The Croatian subsidiary of one of the largest financial services providers in Central and Eastern Europe, Erste Group Bank AG, has acquired the latest generation cash cost optimization software from Transoft International, Inc. Erste Bank Croatia is installing OptiCash and OptiNet, the cash supply cost balancing applications from Transoft. Transoft is the leading supplier of the cash cost optimization systems in the world, and Erste Bank Croatia will be joining very large banks that enjoy the benefits of OptiCash cost optimization already. Erste Bank Croatia has purchased the applications from Transoft's European reseller Printec Ltd, who will also assist with local implementation.

"Initially we went through a detailed RFP phase, and one of our recent visits to the largest bank in Ireland was very useful in gaining information about the challenges and opportunities in currency management. Here we saw what Transoft has achieved with OptiCash, which aroused interest on our part. In Ireland, Transoft was able to take out over 50 % of the network cash and yet improve availability significantly. Transoft seems to understand the European complexities and cash point differences, and after deeper comparisons with other vendors, there were notable differences between OptiCash and the simplier forecast-only systems in the market to be noticed. Erste Bank Croatia believes that Transoft's next generation software operates on a bottom-line cost basis every day of the week, making all decisions based on cost. Furthermore, Transoft is expected to deliver substantial savings, since cost efficiency is exactly what we at Erste Bank stand for", says Mr. Octenjak, Erste Ba nk.

Arriving into the EFMA Future of Cash event in Frankfurt, having just spoken at the ICCOS Asia conference in Hong Kong, Bo Holmgreen, CEO and President of Transoft says "The further expansion into Eastern Europe of our cash management solution continues to strengthen our position as the global leader in this field. True cost balancing is the necessary foundation for the recycling changing our industry over the next decade. I am excited to welcome Erste Bank Croatia to our users group."

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