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Kazakhstan’s Halyk Bank adopts Fiserv cash management tech

Kazakhstan’s Halyk Bank has selected Fiserv to centralise its cash management process and to improve operational efficiency.

The privately-owned bank has implemented a range of Fiserv’s cash and logistics solutions, including Integrated Currency Manager for web-based cash supply chain management, and Device Manager for automated self-service device management.

Our customers conduct the majority of their daily financial transactions in cash, and it is important that we are able to meet their needs to both withdraw and deposit funds at our branches and at other locations, such as ATMs,” said  Zhannat Satubaldina, the bank’s deputy CEO.

“We selected Fiserv based on the company’s global reputation and local experience in delivering proven and reliable cash and logistics capabilities. We consider the implementation of this new technology to be a milestone in serving our growing customer base.”

Centralising cash management operations will also provide Halyk Bank with a more holistic picture of cash needs by location, allowing bank staff to optimise cash levels at branches and devices based on demand.

The bank aims to be able to respond quickly to changing needs for cash at devices including ATMs, in-branch deposit machines, and cash recycling machines. The implementation should also reduce risk and increase network availability while lowering the bank’s cost per transaction and cost per self-service unit.

Halyk Bank describes itself as the “backbone bank” of Kazakhstan, with the country’s largest customer base and the broadest branch and ATM network.

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