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CASH MANAGEMENT | Tony Chua, Thailand

Siam Commercial Bank selects Transoft Cash Management

The bank to maximize use of Transoft’s OptiCash applications suite for its next generation currency management

The first Thai Bank, now operating the largest number of ATMs and branches across the kingdom, announced on Tuesday the selection of Transoft International, Inc. for their next generation currency management.

"Once a decision was made to upgrade our system, we ran detailed parallel pilots on products from selected vendors in the market including Transoft's daily cost optimization applications. As OptiCash appeared to provide the best results for our complex environments, the choice was relatively clear," said Dr. Siwate Rojanasoonthon, Senior Vice President, Logistics Operations, Siam Commercial Bank, according to a Transoft report.

"We just co-sponsored the ICCOS ASIA cash conference last month in Malaysia, and now adding the largest Thai bank network to our Asian customers is a major boost to our regional efforts, and we are very excited about this sale. Having operated a forecasting system for years made SCB a mature client with a solid understanding of the values in our niche-industry, thus we have found the SCB staff both knowledgeable and impressive to work with and we very much look forward to jointly pursuing the large savings available across the SCB network," adds Bo H. Holmgreen, President & CEO of Transoft.

At ICCOS North America last month, Transoft's speech was titled "Things have never been better" in the cash optimization industry, due to the mature levels of automation, results and sophistication now available to banks. Mr. Holmgreen adds, "Transoft has recently sold OptiCash systems to the largest banks in great countries such as Russia, Mexico, Ukraine, Columbia etc., therefore we are happy to continue this exciting trend in the great Kingdom of Thailand. We are grateful for the recognition of our ability and decades of cash management expertise."

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