[Techtaffy Newsdesk]

NCR  has acquired cash cost optimization software company Transoft International. Terms of the deal were not disclosed.

NCR will integrate Transoft’s software and SaaS-based product suite and employees into its Financial Services line. Transoft’s software solution will combine with NCR’s existing portfolio of Cash Management Consulting services and media handling self-service devices, such as ATMs, teller cash recyclers (TCRs), and teller automation technology.

Transoft manages cash for hundreds of thousands of ATMs, branches, vaults and retailers around the world. Its cash cost optimization software uses statistical analysis to help financial institutions and retailers optimize their cash requirements and reduce costs associated with cash handling.

NCR believes that cash management represents a $1 billion segment for integrated technology hardware, software and services solutions. Cash management accounts for nearly 30 per cent of an ATM’s annual expenses.

[Image Courtesy: NCR]