Lee Cameron, MD, EMEA, Fiserv

Kazakhstan-based Eurasian Bank has selected Fiserv’s cash and logistics solutions in a bid to simplify and automate its cash management process. The implementation by the bank is expected to enable the bank to centralize currency management, provide real-time visibility into cash needs and therefore allowing the staff to accurately forecast cash needs across the bank’s ATM and branch network depending on the consumer demand.

“Kazakhstan has a cash-based economy, and our customers have to be able to reliably access cash in order to conduct their daily lives,” said Natalia Iliyashenko, head of operations, Eurasian Bank. “With Fiserv, we will be able to gain a better view of where cash is across our entire network, so we can make sure money is available when and where our customers need it. We believe the implementation of this technology is an important step in serving our growing customer base.”

According to the supplier, the solution will allow better operational efficiency and optimal usage of cash present at the bank, ATMs and other self-service devices.

“Being able to optimize cash levels at our branches and self-service devices allows us to reduce our overall operating expenses,” continued Iliyashenko.

“Access to cash is a defining component of banking convenience for Eurasian Bank customers,” said Lee Cameron, managing director, EMEA, Fiserv. “We look forward to leveraging our global experience and local expertise in cash management to enable the bank to streamline operations and deliver the best possible customer experience.”

Established in 1994, Eurasian Bank is a Kazakhstan commercial financial institution with 16 branches and 119 outlets all over the country. It provides a wide range of services to corporate and SME clients.

by Megha Bhattacharya
Market Analyst at IBS Intelligence