BB&T Selects NuTech Solutions' ARROW Application to Optimize Courier Routing.Business Editors/High-Tech Writers CHARLOTTE, N.C.--(BUSINESS WIRE)--Nov. 12, 2002 North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. bank holding company to optimize courier routing between branches and transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. centers with NuTech Solutions' ARROW application NuTech Solutions, Inc. ("NuTech"), a provider of predictive analytics Predictive analytics encompasses a variety of techniques from statistics and data mining that process current and historical data in order to make “predictions” about future events. and profit optimization software Free and Open Source software
BB&T will use ARROW to identify optimal courier routes for improved efficiency and cost control. ARROW handles the complex service requirements of multi-branch banks, which routinely face scheduling constraints, issues distributing workflow into processing centers, and other variables uncommon to traditional logistics scenarios. ARROW takes these variables into account and is able to solve complex scheduling decisions that can adapt easily to address changing needs. "With ARROW, BB&T will be better positioned to integrate its many branches and transaction processing centers into a routing plan that favors the earliest possible crediting of deposits while optimizing the various courier routes according to staffing, routing and other constraints," said NuTech Solutions' CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Matthew Michalewicz. "The system is adaptive and evolutionary in nature, which allows it to respond to continued growth, new markets, and one-off problems like occasional weather disturbances." ARROW is based on a combination of advanced heuristics and evolutionary algorithms. Using these advanced computational methods, ARROW can deliver significant, measurable reductions in transportation costs and travel times as compared to conventional Operations Research operations research Application of scientific methods to management and administration of military, government, commercial, and industrial systems. It began during World War II in Britain when teams of scientists worked with the Royal Air Force to improve radar detection of based products and methods. About BB&T Winston-Salem-based BB&T Corporation, with $79.4 billion in assets, operates more than 1,100 banking offices in the Carolinas, Georgia, Virginia, Maryland, West Virginia, Kentucky, Tennessee, Indiana, Alabama and Washington, D.C. BB&T Corp. is the 13th largest financial holding company in the nation. More information is available at www.BBandT.com. About NuTech Solutions, Inc. NuTech Solutions, Inc. provides predictive analytics and profit optimization software products for Global 1000 companies in the financial services, manufacturing, and retail industry, as well as for government organizations. Based in Charlotte, N.C. and with offices around the world, NuTech's products produce measurable increases in financial performance for its users. The company's current client roster includes General Motors, Ford Motor Company, Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , Siemens, BB&T, ChevronTexaco, BMW BMW in full Bayerische Motoren Werke AG German automaker. Founded as an aircraft engine manufacturer in 1916, the company assumed the name Bayerische Motoren Werke and became known for its high-speed motorcycles in the 1920s. , Beiersdorf, U.S. Department of Defense, Corning, Polish National Air Force, FujiTec, and Unilever. Forward-looking (safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. ) statement Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes", "plans", "expects" or "intends" and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements. |
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