Lloyds TSB Selects Carreker for Cash Inventory Management; Leading UK Bank to Deploy iCom across 4,200 ATMs.Business Editors DALLAS--(BUSINESS WIRE)--June 25, 2003 Carreker Corporation (Nasdaq: CANI), a leading provider of technology and consulting solutions for the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry, today announced that London-based Lloyds TSB Lloyds TSB Group plc (LSE: LLOY) is a banking and insurance group in the United Kingdom. It was formed in 1995 by the merger of Lloyds Bank and the Trustee Savings Bank (TSB). The Group's head office is at 25 Gresham Street, London. plc, a leading UK financial services group, has selected Carreker's Integrated Cash Operations Module (iCom(TM)) cash inventory management solution for its Automated Teller Machine automated teller machine (ATM), device used by bank customers to process account transactions. Typically, a user inserts into the ATM a special plastic card that is encoded with information on a magnetic strip. (ATM) network of 4,200. iCom is an enterprisewide solution that helps banks and their service providers automate the cash-ordering process and manage cash inventory levels. Using advanced forecasting technology, iCom determines the optimal currency order and shipment amounts for ATMs, using historical demand-based information. It develops a daily cash activity profile for each cash site, assists in identifying optimal cash transportation strategies, and provides pre-emptive pre·emp·tive or pre-emp·tive adj. 1. Of, relating to, or characteristic of preemption. 2. Having or granted by the right of preemption. 3. a. cash shortage alerts. iCom users have historically reduced their overall cash inventories by 20 to 40 percent while improving transportation schedules, lowering cash handling costs, and increasing the overall productivity and efficiency of the cash inventory management process. Trevor Hodsdon, group efficiency programme projects director, Lloyds TSB, said, "We chose Carreker's iCom solution because of its superior technology and extensive number of referenceable sites around the globe, which gave us assurance regarding Carreker's implementation capabilities as well as our ability to realise anticipated customer and operational benefits." Managing currency and cash has taken on increased importance for banks as volumes grow and costs potentially rise. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. recent research, cash remains the favourite method of payment among UK adults. In addition, the UK's central bank, the Bank of England Bank of England, central bank and note-issuing institution of Great Britain. Popularly known as the Old Lady of Threadneedle Street, its main office stands on the street of that name in London. , has introduced new rules that increase the liability for banks to pay interest on cash in circulation, causing banks to seek solutions that minimise their cash usage while improving cash availability to their customers. Brian Evetts, managing director of Carreker's Cash & Logistics business, said, "Lloyds TSB is a long-time proponent of proactive cash inventory management. Their adoption of iCom bank-wide is a clear signal of the bank's ongoing commitment to significant increases in savings and efficiencies through greater branch automation and further reductions in cash inventories." J.D. (Denny) Carreker, chairman and 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. of Carreker Corporation, said, "Lloyds TSB is well known for providing outstanding service, so we are particularly pleased that they chose Carreker to assist them in this critical area, where we are increasingly becoming the preferred provider. We consider Lloyds TSB's selection of iCom a validation of our product design and our reputation in this key business." iCom, along with Carreker's ReserveLink(TM) and FraudLink(TM) PC(TM) solutions, has been exclusively endorsed by the American Bankers Association The American Bankers Association (ABA) is comprised of banks and other financial institutions. It seeks to promote the strength and profitability of the banking industry by Lobbying federal and state governments, building industry consensus on key issues, and providing products and . Carreker iCom installations include many of the leading banks in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Europe, Canada, Africa, Australia, and New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. . About Lloyds TSB Lloyds TSB is a leading UK-based financial services group, whose businesses provide a comprehensive range of banking and financial services in the UK and overseas. At the end of 2002 total group assets were GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 253 billion, and there were over 79,000 employees. Market capitalisation Noun 1. market capitalisation - an estimation of the value of a business that is obtained by multiplying the number of shares outstanding by the current price of a share market capitalization was GBP24.8 billion. Main businesses and activities include UK Retail Banking & Mortgages, Insurance & Investments, Wholesale Markets and International Banking. About Carreker Corporation Carreker Corporation improves earnings for financial institutions around the world. The Company's integrated consulting and software solutions are designed to increase clients' revenues and reduce their expenses, while improving security and increasing the value of their customer relationships. Carreker provides products and services to more than 250 clients in the United States, Canada, the United Kingdom, Ireland, continental Europe, Australia, New Zealand, and South Africa. Clients include the full range of community, regional and large banks, among them more than 75 of the largest 100 banks in the United States. Headquartered in Dallas, Texas since 1978, Carreker Corporation also has offices around the world including London, Toronto, and Sydney. For more information, visit www.carreker.com. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion