Alaska USA Federal Credit Union has agreed to use supply chain management software from Fiserv Inc. of Brookfield, Wis., to optimize the management and delivery of cash.
Fiserv announced the deal Tuesday and said Alaska USA would use the Integrated Cash Operations Module, which standardizes cash-handling processes, at its 50 branches and more than 200 automated teller machines.
The software keeps track of cash use patterns and inventories to help plan deliveries, and it can help financial companies cut cash transportation costs by 20% to 40%, Fiserv said.
Alaska USA, which currently manages its cash inventory manually, said that it selected Fiserv's software because it would connect easily with ATM and general ledger applications.
Nelson Lowe, the Anchorage credit union's senior vice president of treasury, said the software "will provide us with better cash management processes, as well as free up branch personnel to focus on selling and other high-return functions."
