C3 Financial Helps New Banks to Achieve Cash Management Efficiency

C3 Financial Helps New Banks to Achieve Cash Management Efficiency
12.04.2016 08:30 am

C3 Financial Helps New Banks to Achieve Cash Management Efficiency

Transaction Banking , Cash management

$7.9 billion Renasant Bank based in Tupelo, Miss., $1.2 billion Machias Savings Bank based in Machias, Maine, and $5.1 billion Independent Bank, McKinney, Texas have selected its C3 Financial, a cash management and forecasting solution invented by CetoLogic, to simplify cash operations and accurately predict cash levels to service customers’ needs.

Renasant Bank is implementing C3 Financial at its 135 branches and 151 ATMs in Miss., Ala., Ga., Fla. and Tenn. During 2015, Renasant Bank increased their footprint through an acquisition and the bank’s extensive branch and ATM network called for a standardized cash management process to forecast its client’s cash needs. After exploring various solutions, Renasant Bank decided to partner with CetoLogic and employ C3 Financial.

“Cash management has always been a focus for our bank - to ensure our clients’ cash demands are met and our investment team has the tools to accurately and effectively manage their cash levels. CetoLogic and C3 Financial came highly recommended from the employees of HeritageBank of the South, which we acquired last year,” said Phyllis Drope, Funds Management Officer for Renasant Bank. “With C3 Financial, our entire branch and ATM network will submit orders centrally to one department. C3 Financial also offered us integrations to our teller platform system, Teller Insight and money supplier, Loomis. We plan to realize significant time savings and cash reductions utilizing a standard and central cash management application.”

In addition to centralizing cash operations, C3 Financial forecasts accurate cash order and deposit recommendations based on the branch or ATM’s unique cash demands. By providing requisition guidance to retail employees, banks can reduce cash overages and align cash inventory with actual usage.

“We are excited to be partnering with Renasant Bank, Machias Savings Bank and Independent Bank to help them achieve their cash management goals and increase efficiencies within their branch and device network,” said Douglas Ceto, President and CEO of CetoLogic. “More and more institutions are making cash management a strategic focus as banking and the branch environment continue to transform. The task of overseeing multiple cash points with antiquated systems and processes is difficult and expensive. C3 Financial empowers clients with insight into their cash network, which is across tellers, vaults, ATMs and numerous cash handling devices in a central easy to use web-based application.”

Related News

NeoXam and ICE partner to bring ICE pricing and reference data to clients

NeoXam, a leading provider of financial data management and transaction software solutions, announced it has integrated ICE Data Services’ pricing and reference data... Read more »

Erste Bank Hungary Improves and Secures the Remote Banking Experience with OneSpan Mobile Security

OneSpan™ (NASDAQ: OSPN), the global leader in securing remote banking transactions, today announced that Erste Bank Hungary, a subsidiary of Erste Group Bank AG, one of the... Read more »

W2 looking to support all industries during challenging times ahead

W2, the leading provider of real-time digital solutions for global regulatory compliance, has announced today its help to regulated industries faced with challenges during the... Read more »

Ebury has switched to a remote first organisation in response to the coronavirus outbreak

In order to preserve the security of its employees and continue to provide high quality financial services to its customers, all of Ebury’s offices and operations have moved to... Read more »

Temenos and ClearBank Form Strategic Relationship to Provide Seamless Payments in the Cloud

Temenos (SIX: TEMN), the banking software company, and ClearBank, the cloud-based clearing bank, form a strategic relationship to provide banks with access to UK payment... Read more »

Ebury and Crédito Agrícola join forces to transform global transaction banking for corporates and SMEs

Crédito Agrícola and Ebury signed a partnership that will allow the bank's corporate clients to carry out foreign currency exchange and cross border transactions completely... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel