Fifth Third Bancorp. of Cincinnati is using software from Transoft International Inc. of Cary, N.C., to keep better track of the cash stored in its off-site automated teller machine network.
Transoft announced Tuesday that the $100 billion-asset Fifth Third has installed its OptiCash software, which keeps track of currency levels at the more than 800 ATMs.
OptiCash uses mathematical algorithms, based on consumer withdrawal patterns and other information, to forecast how often the machines need to be refilled and to allow companies to keep less money in their machines.
