UniCredit in Ukraine deploys Fiserv ICM tool to manage its internal cash

2 August 2013

UniCredit Bank in Ukraine is using Fiserv’s Integrated Currency Manager (ICM) supply chain management tool to optimise its cash reserve levels and maximise its transportation and forecasting capabilities.

Working with the vendor’s local implementation partner Mellon Ukraine, UniCredit Bank in Ukraine hopes the web-based Integrated Currency Manager (ICM) tool will improve the efficiency of its cash management and supply chain procedures internally, ultimately leading to a quicker, ‘cash-ready’ service for its customers in the branch or via its online offerings.

The contract award follows a similar win last year for Fiserv with First Ukrainian International Bank (FUIB) selecting the company to help it manage its cash reserve better across its network.

“We’ve already put quite a lot of effort into successfully reducing our total automated teller machine (ATM) cash-related costs, and once we have fully implemented ICM we expect that we will be able to achieve even better results in cost optimisation,” said Valeriy Lapin, professional self-service management at UniCredit Bank, while emphasising the software will not only maximise cash availability for customers but also cut operating costs thanks to the advanced management and forecasting information now accessible.

In a country with high interest rates, idle cash, outages or overages can be very costly, explained David McLaren, business development director for Europe, Middle-East and Africa (EMEA), cash and logistics, Fiserv. “[we] 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.”

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development