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BS/2 Provides Cash Monitoring tools for VTB Bank in Georgia to Improve Cash Efficiency

04-24-2019 01:33 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Penki Kontinentai Group

VTB Bank is one of the leading banks in the Georgian financial market. With almost 15 years in business, it established itself as a modern financial institution, introducing innovations and improving the quality of services. Since the beginning of 2019, technical support for all bank self-service devices has been entrusted to BS/2 Georgia. Cash flow is monitored by the Cash Management.iQ software solution developed by Penkių kontinentų bankinės technologijos (BS/2) banking technology company of Penki Kontinentai Group.

Cash Management.iQ enables real-time monitoring of cash of each individual cash point as well as of the whole network. Based on statistical data, the .iQ family product makes cash demand forecasts of various self-service devices (ATMs, kiosks, etc.) and plans the operation of storage facilities.

“VTB Bank (Georgia)” was interested in our product. During the pilot project, it was decided to use not all its capabilities, but only cash balances monitoring and forecasting. Of course, we offered flexible conditions both in terms of the functionality and payment,” says BS/2 Georgia Executive Director Andrej Smirnov.

According to him, Cash Management.iQ provides cash flow automation and maintains the optimal amount of cash, reducing the administration cost. Among the additional functions of the solution is the determination of CIT team route and the amount to load for each of them, allowing to plan the optimal routes for the CIT services, as well as to reduce logistics costs. Cash Management.iQ can be used not only by financial institutions and collectors, but also by retailers to ensure the timely export and delivery of cash to their stores.

Today Cash Management.iQ provides cash monitoring of almost 100 ATMs of VTB Bank. BS/2 Georgia provides technical support for the bank’s equipment. Overall, the company provides technical support for more than 1,000 devices throughout the country.

“The actively developing Georgian payment market is in the area of interests for BS/2. In May, Tbilisi will host the Europe Cash Cycle Seminar, where a representative of our company will deliver a report. At the exhibition booth we will showcase our innovative solutions,” says Andrej Smirnov.

Today BS/2 Georgia cooperates with most banks in the country. The company offers banking equipment and software solutions, as well as provides technical support, counseling and training. The subsidiary in Georgia has six service centers with 26 certified engineers.

BS/2 is the part of the Penki Kontinentai Group. The company specializes in IT outsourcing, software development, banking equipment supplies as well as system integration and technical maintenance services in the Baltic countries, Azerbaijan, Armenia, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan, Uzbekistan. Services and products by BS/2 are available in 80 countries around the world, and its innovative solutions are applied by international organizations and companies.BS/2 clients include the biggest banks in the Baltics, Central Asia, Eastern Europe and other regions.

Germanas Kavalskis
Chief Communications Officer

Penki Kontinentai Group
Kareivių str. 2,
LT-08248, Vilnius, Lithuania

+370 626 27488
germanas.kavalskis@5ci.lt
www.5ci.lt

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