Siam Commercial Bank Upgrades to Transoft Cash Management

CARY, N.C., Dec. 14, 2010 /PRNewswire/ -- The first Thai Bank, now operating the largest number of ATMs and branches across the kingdom, announced today the selection of Transoft International, Inc. for their next generation currency management.  

"Once a decision was made to upgrade our system, we ran detailed parallel pilots on products from selected vendors in the market including Transoft's daily cost optimization applications.  As OptiCash appeared to provide the best results for our complex environments, the choice was relatively clear," said Dr. Siwate Rojanasoonthon, Senior Vice President, Logistics Operations, Siam Commercial Bank.

"We just co-sponsored the ICCOS ASIA cash conference last month in Malaysia, and now adding the largest Thai bank network to our Asian customers is a major boost to our regional efforts, and we are very excited about this sale. Having operated a forecasting system for years made SCB a mature client with a solid understanding of the values in our niche-industry, thus we have found the SCB staff both knowledgeable and impressive to work with and we very much look forward to jointly pursuing the large savings available across the SCB network," adds Bo H. Holmgreen, President & CEO of Transoft.

At ICCOS North America last month, Transoft's speech was titled "Things have never been better" in the cash optimization industry, due to the mature levels of automation, results and sophistication now available to banks. Mr. Holmgreen adds, "Transoft has recently sold OptiCash systems to the largest banks in great countries such as Russia, Mexico, Ukraine, Columbia etc., therefore we are happy to continue this exciting trend in the great Kingdom of Thailand. We are grateful for the recognition of our ability and decades of cash management expertise."

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 CITs. Partners such as NCR, DeLaRue, Printec, Armaguard, First Data, and others offer outsourced/SaaS services around the world with Transoft solutions such as OptiCash, OptiVault and OptiNet, generating significant recurring cost savings for ATM, branch, and vault networks. Transoft is a privately held software company in the Research Triangle Park in North Carolina with offices and staff around the world. Transoft's CEO was appointed a "2010 Top 50 Entrepreneur", and Transoft has recently enjoyed a surge of interest as basic banking moves to cost containment and better competitiveness.

About Siam Commercial Bank

Siam Commercial Bank PCL is a leading universal bank in Thailand. It was established by Royal Charter in 1906 as the first Thai Bank and, as at September 30, 2010, had the highest market capitalization among Thai Financial Institutions (Baht 351.8 billion). It has the largest branch (1,005), exchange booth (114), and ATM (7,678) network in the country, attesting to its dominant position in the retail financial services marketplace. It has a diverse range of Corporate, SME, Private, and Retail customers nationwide, and has an asset size of Baht 1,363 Billion. Further information is available on the Bank's web site at www.scb.co.th.

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

SOURCE Transoft International, Inc.