Raiffeisen Bank Aval Acquires Transoft OptiCash Platform

CARY, N.C., July 27 /PRNewswire/ -- Raiffeisen Bank Aval in Ukraine has chosen Transoft's OptiCash Solution after careful comparison of the software applications available for cash forecasting and cost optimization. Ukraine is the second largest country in Europe, thus it is imperative that the Bank operates smoothly across the entire country. Joining other large banks worldwide operating on the mature Transoft OptiSuite of applications avoids experimentation and allows the Bank to go right to professional implementation. The Bank expects savings achievement and automation benefits as a result of Transoft global experiences with fast-track installations of cash management systems.

Petr Krumphanzl - Head of Operations, adds: "Since Transoft already serves the largest bank in Russia, their systems are in Russian, they have Russian speaking staff, and with customers all over the world they are able to handle new business environments and indeed our unique complexities here, in  Kiev. Transoft is a relatively small global software company, stable and focused, and it is reflected in their impressive staff and project experiences. We look forward to the benefits from this bottom-line oriented partnership in pursuit of savings throughout our network."

"Raiffeisen Aval Bank is an exciting addition to our global customer base, and we are proud to enroll one of the largest banks in Ukraine into our Users' Group," says Bo H. Holmgreen, President & CEO of Transoft International, Inc. "Transoft has grown steadily over 18 years, and in particular we are proud of the continued growth over the last few years where the banking world has been somewhat shaken up. Through our dedication to this niche area worldwide and our stable work force with international experiences, Transoft remains the lowest risk option for anyone getting into the complex world of cash cost optimization. Our systems have seen it all around the world and we look forward to assist Raiffeisen Bank Aval with the management, automation and cost optimization of their entire cash supply chain across this large country." Along with Ukraine, Transoft optimizes cash for the largest banks in Russia, Scandinavia, Netherlands, Ireland, Mexico, Ecuador, Columbia, India, Singapore, Canada, and many other countries.

About Raiffeisen Bank Aval

Raiffeisen Bank Aval Public Joint Stock Company provides a broad range of standard and innovative banking services through its nationwide network, which comprised, as of January 1, 2010, 953 outlets located in big cities, provincial and community centers and villages throughout Ukraine. Traditionally, Raiffeisen Bank Aval is ranked among top Ukrainian banks by trust and recognition of clients, partners and experts, both Ukrainian and international. Raiffeisen Bank Aval's leadership position was acknowledged last year by numerous ratings and surveys. In particular, Raiffeisen Bank Aval was named Ukraine's best company in the banking and financial sector in 2009 by the world-renowned Euromoney magazine (UK). According to the regular survey on the image of Ukraine's largest banks conducted by GfK Ukraine, the Bank has been repeatedly mentioned among the highest ranked institutions. Based on the results of the survey, clients are more inclined to honor the Bank's reliability, its many-year operation in the market and high skills of its staff.

About Transoft

Transoft International, Inc. is the leading provider of currency supply chain management software solutions for the banking industry. Transoft products have been developed over the last 18 years by experienced cash management professionals to efficiently and cost-effectively handle all aspects of the complex cash management process. Through the use of sophisticated optimization and simulation techniques, Transoft's products remains unique in the market place and is in use worldwide by Banks, ATM networks and Armored Car Service providers. Partners such as NCR Corp., De La Rue Ltd., Printec Corp., Armaguard Pty, First Data Ltd, and others offer outsourced and SaaS services around the world with Transoft products. Transoft solutions such as OptiCash, OptiVault and OptiNet are generating significant recurring cost savings for ATM, branch, and money center/regional vault networks. Transoft is a fast growing privately held software company in the Research Triangle Park in North Carolina with offices and staff around the world. Transoft was appointed a "2010 Top 50 Entrepreneur" and has recently enjoyed a surge of interest as basic banking moves to cost containment and better competitiveness.

Contact:  Turid Kaehny, +1-919-678-9192, [email protected]

SOURCE Transoft International, Inc.