Grupo Financiero Banamex, a Mexican unit of Citigroup Inc., has agreed to use cash management software from Transoft International Inc.
The Cary, N.C., vendor said Friday that Banamex is planning to use its OptiCash software to automate its cash forecasting, cost balancing, expense tracking, and ordering. The application uses historical data on a bank's cash-use patterns, to determine how much money it needs to have available in branches and in automated teller machines. Transoft said this allows banks to stock less cash.
Samuel Lara, Banamex's director of consumer banking in Latin America, said in a Transoft press release, "With OptiCash, we will realize significant recurring savings through decreasing cash holdings, reducing associated costs and improving operational efficiencies."
