ATLANTA, July 29, 2020 /PRNewswire/ -- In an effort to help financial institutions navigate uncertain times and adjust to a "new normal," Logicpath, a leader in fintech software and analytics, is solving a critical need for banks and credit unions by centralizing the cash order process and optimizing inventory levels at every cash end point, down to the denomination through the use of software.
Financial institutions have some of the most intricate supply chain systems in the world, and the main contributor to this growing complexity is advanced cash end point technology. The COVID-19 pandemic caused disruptions to cash supply chains everywhere and has brought to light the value of disaster recovery planning and centralizing these processes through integration and automation of cash orders across the enterprise.
"Due to cash demand volatility and branch closings, banks and credit unions had to quickly adapt to keep supply chains moving and customers happy," said Douglas Ceto, President and CEO of Logicpath. "Our company is inspired by the industry's ability to innovate and persevere during difficult times, and by providing advanced fintech solutions and consulting, we plan to make navigating these uncertain times a bit easier."
At the beginning of the COVID-19 pandemic, financial institutions were faced with various challenges including abruptly switching to a centralized ordering process, a 20 percent uptick in cash demand, and branch lobby closings. Due to these challenges, Logicpath has placed a tremendous emphasis on client consulting and training to ensure that financial institutions are successfully optimizing their cash supply chains and are empowered to take full advantage of everything that Logicpath's C3 Financial application has to offer.
"COVID-19 has caused financial institutions to experience unprecedented disruptions in their cash supply chain," said Kelly MacConnell, Vice President of Logicpath. "Through the use of C3 Financial's artificial intelligence and predictive analytics, we're enabling clients to stay one step ahead of cash demand and usage when historical trends and spreadsheets are no longer an option."
About logicpath Atlanta-based logicpath provides innovative software solutions and analytics to financial institutions and is trusted by thousands of clients across the United States and Canada. C3 Financial, Logicpath's SaaS cash forecasting and management software, and Deposit Reclassification, a program designed to eliminate reserve balances, focus on improved earnings, efficiency, risk management and operations. For more information, visit https://www.logicpath.com/.