Looking to focus on its workforce optimization strengths, Global Management Technologies Corp. will sell its CashMaster cash forecasting software to Fiserv in a move that will further bulk up Fiserv’s strong cash supply and logistics business used by 17 of the top 20 U.S. financial institutions.
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CashMaster, which itself is used by 10 of the largest 20 largest North American banks, is a toolset that helps bank branch managers forecast cash demand so that idle cash is reduced on the network or in transit, giving a boost to interest earnings.
Fiserv’s flagship cash forecasting tool is iCom, among products and tools that are supplemented by consulting services in cash supply chain management. Details of the transaction were not divulged.
