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Welcome to the Press-center of FUIB! In this section, You can read the latest news of the bank and analytical materials about the financial market.

Members of the media may receive comments of the leaders and experts of the bank about the products and services of FUIB, about the situation on the Ukrainian financial market, contacting with the press officers.

Automation of Cash Flow Management in FUIB will Cut Costs by 10%
12 November 2012
Отримати на e-mail {title} - Bank FUIB

First Ukrainian International Bank (FUIB) implemented the cash flow management system Integrated Currency Manager (ICM) from Fiserv (USA), leading developer of solutions for financial institutions. ICM is used by a number of leading banks of the world: Bank of America (USA), HSBC (UK), Barсlays Bank (UK), etc. In Ukraine FUIB became the first bank to implement such system in its production environment.

The ICM system enables to project and optimise cash flows and balances. Its implementation made possible revision of the business model for managing cash flows and the centralised decision making was organised as regards decisions on amounts and times of cash to be loaded into ATMs and delivered to outlets. As part of the ICM implementation project the comprehensive list of parameters for bringing the cash balances at each ATM and outlet to the economically justified volume was compiled. Employees were trained to use the ICM system and the conditions for centralised online monitoring over cash balances at ATMs were introduced.

With the ICM system FUIB will:

  • optimize the cash balances in cash offices of outlets and ATMs with regard to customers’ needs in cash and historical data on transactions at each cash point;
  • manage the risks of cash absence at ATMs;
  • optimise the cash delivery schedules and cut costs relating to their processing.

“We’ve implemented the ICM cash flow management system in order to decreasing the cash balances in cash offices and ATMs of the Bank at least by 15%. Other goal is to cut by 10% the operating expenses relating to cash transportation. We expect the implementation of this solution to pay back within 18 months to go. The system will enable FUIB to improve its performance indicators through economy from diversion of resources and operating expenses optimisation,” comments Tomasz Wisniewski, Deputy Chairman of the Management in charge of operating activities of FUIB.

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