ATLANTA, Sep. 29, 2014 – CetoLogic, a leading provider of software and analytics for financial institutions and retailers, announced that $750 million, Fort Wayne, Ind.-based 3Rivers Federal Credit Union has completely automated cash orders to its money supplier leveraging CetoLogic’s C3 Financial cash management and forecasting solution.
C3 Financial’s central requisition console and money supplier integration feature enables 3Rivers’ service managers to easily receive and approve cash order recommendations and then send all cash orders to their money supplier through a single file.
“Prior to implementing C3 Financial, each of our branches would spend up to 45 minutes each week determining their cash needs and processing their cash order. Now, this process takes no more than two minutes, and often, no time at all; freeing up our staff to redirect their time and attention toward our membership and providing excellent member service,” said Lyndsey Jackson, assistant vice president of Finance for 3Rivers. “Our branches trust C3 Financial’s order recommendations, which has led to significant cash reduction. Additionally, C3 Financial automates our cash orders to our money supplier JP Morgan Chase, via our relationship with Corporate One FCU, achieving our goals in accounting of reducing our cash management time commitments.”
3Rivers chose C3 Financial to help manage their large branch infrastructure with the goal of automating and refining processes to reduce cash and save time. The introduction of centralized cash ordering facilitated by C3 Financial’s cash order and deposit recommendations and money supplier integration provide 3Rivers with the tools needed to achieve their goals.
“Removing the human element of copying cash orders from one system to another shifts time-intensive cash management responsibilities away from 3Rivers’ branch service managers while reducing the risk of error,” said David Austin, vice president of CetoLogic. “C3 Financial’s integration with leading money suppliers completely automates the cash ordering process, helping institutions like 3Rivers implement a more uniform, centralized cash management process with positive impacts on the balance sheet through cash inventory optimization and reduced staff time commitments.”
Since 1935, 3Rivers has led the way in providing value to those we serve – individuals, small businesses and our communities of Northeast Indiana and Northwest Ohio. Over 68,000 members strong, 3Rivers grows meaningful relationships with our members through personalized and simple solutions. Being a progressive industry leader with a solid track record is a continuing result of our mission: Helping people understand money matters every day. For more information, visit www.3riversfcu.org.
Atlanta, Ga.-based CetoLogic provides software solutions and analytics to financial institutions and retail organizations. CetoLogic proudly services the needs ofmore than 1,500 clients in 50 states and Canada by providing “Smart Solutions that Make Dollars and Sense.” CetoLogic is the designer of C3 Financial, a web-based cash forecasting and management software. CetoLogic also pioneered Deposit Reclassification, a retail sweep program designed to eliminate reserve balances. CetoLogic’s solutions improve earnings, efficiencies, risk management and operations.