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April 26, 2019

Eurasian Bank picks Fiserv to automate cash management

Kazakhstan-based Eurasian Bank has tapped Fiserv to centralise cash management and gain real-time view into cash requirements.

This, according to the vendor, will enable the bank’s employees to gauge cash requirements across its ATM and branch network with a higher level of accuracy.

This in turn, reduces chances of cash remaining idle in ATMs for too long.

At the same time, it ensures adequate cash supply at branches or ATMs as per customer demand.

Fiserv said that as a result, the operational efficiency of the bank will increase.

Eurasian Bank head of operations Natalia Iliyashenko said: “Kazakhstan has a cash-based economy, and our customers have to be able to reliably access cash in order to conduct their daily lives.

“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.”

According to Iliyashenko, the selection of Fiserv as the bank’s technology partner will lower the latter’s operating expenses by optimising cash levels at branches and self-service devices.

Eurasian Bank tends to corporate and SME customers from its 16 branches and 119 outlets in Kazakhstan.

The bank also has a presence in the Russian Federation.


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