# Halyk Bank Streamlines Cash Management with Fiserv Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2019-02-21 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Enhance Cash Management Efficiency with Fiserv Solutions Meta Description: Halyk Bank partners with Fiserv for efficient cash management solutions, improving customer service and operational effectiveness in Kazakhstan. URL: https://financedigest.com/halyk-bank-streamlines-cash-management-fiservhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/halyk-1736839152230-compressed.jpg) _Global reputation, local expertise and flexible solutions key criteria in selection_ [Fiserv, Inc.](http://www.fiserv.com/) (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Halyk Bank, a leading privately-owned financial institution based in Kazakhstan, will centralise its cash management process to improve operational efficiency and meet the needs of customers. The bank has implemented a full range of cash and logistics solutions from Fiserv, including Integrated Currency Manager™ for web-based cash supply chainmanagement, and Device Manager™ for automated self-service device management. In Kazakhstan the use of cash remains common, making efficient cash management particularly strategic for financial institutions in the country. “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](https://www.financedigest.com/some-uk-property-funds-defer-investor-withdrawals.html "Some UK property funds defer investor withdrawals") at our branches and at other locations, such as ATMs,” said Zhannat Satubaldina, deputy CEO, Halyk Bank. “We selected Fiserv based on the [company’s global](https://www.financedigest.com/global-body-urges-eu-to-make-company-life-simpler-by-aligning-climate-reporting.html "Global body urges EU to make company life simpler by aligning climate reporting") 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](https://www.financedigest.com/the-advanced-wound-management-technologies-market-to-grow-based-on-customized-digitization.html "The Advanced Wound Management Technologies Market to grow based on customized digitization") base.” In addition to enhancing efficiency, centralising cash [management operations will provide Halyk Bank](https://www.financedigest.com/strategies-banks-use-to-manage-liquidity-risk.html "Strategies Banks Use to Manage Liquidity Risk") with a more holistic picture of cash needs by location, allowing bank staff to optimise cash levels at branches and devices based on demand. When cash sits idle in a teller drawer or a self-service device, it is costly for the financial [institution because the money](https://www.financedigest.com/fiat-republic-the-specialist-baas-platform-that-bridges-the-gap-between-web3-and-traditional-banks-announces-it-has-become-an-electronic-money-institution-emi-in-the-uk.html "Fiat Republic, the specialist BaaS platform that bridges the gap between web3 and traditional banks, announces it has become an Electronic Money Institution (EMI) in the UK.") cannot be used for another purpose, such as to fund a loan. However, if a customer wishes to make a withdrawal and there is not enough cash on hand the customer will be disappointed and may take their [banking business](https://www.financedigest.com/ant-group-starts-to-differentiate-consumer-loan-business-jiebei-from-bank-loans.html "Ant Group starts to differentiate consumer loan business Jiebei from bank loans") elsewhere. Sophisticated technology can help banks ensure the [correct](https://www.financedigest.com/markets-could-face-sharp-correction-bank-of-england-warns.html "Markets could face ‘sharp correction’, Bank of England warns") amount of cash is always on hand at bank branches, ATMs, and other self-service devices. As a result of the deployment of cash management solutions from Fiserv, Halyk [Bank will be able to respond quickly to changing needs](https://www.financedigest.com/traditional-banks-need-an-overhaul.html "Traditional banks need an overhaul") for cash at devices including ATMs, in-branch deposit machines, and cash recycling machines. The technology will also help the bank reduce risk and increase network availability while lowering the [bank’s cost](https://www.financedigest.com/how-can-open-banking-help-smbs-navigate-the-cost-of-living-crisis.html "How can Open Banking help SMBs navigate the cost-of-living crisis? ") per transaction and cost per self-service unit. “Halyk [Bank turned to Fiserv to help create a centralised currency management](https://www.financedigest.com/how-effective-talent-management-could-disrupt-the-retail-banking-sector.html "HOW EFFECTIVE TALENT MANAGEMENT COULD DISRUPT THE RETAIL BANKING SECTOR") process that optimised staff across its entire organisation,” said Lee Cameron, managing director, EMEA, Fiserv. “We look forward to working with the [bank to help them maximise their new cash management](https://www.financedigest.com/exclusive-allianz-in-talks-with-banks-for-china-asset-management-venture-sources.html "Exclusive-Allianz in talks with banks for China asset management venture -sources") technology and achieve their goal of enhanced efficiency.” In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the [way people live and work today](https://www.financedigest.com/4-ways-todays-investor-can-future-proof-their-assets.html "4 Ways Today’s Investor Can Future Proof their Assets") – financial services at the speed of life. Learn more at [fiserv.com](http://www.fiserv.com/). --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---