New regulatory guidelines for pandemic planning change the supply chain management landscape
ATLANTA (April 14, 2020) – LogicpathTM, a leader in fintech software solutions and analytics, partners with Loomis, the largest integrated cash distribution network in the United States, to help financial institutions with ongoing cash supply chain challenges due to COVID-19. Last week, logicpath and Loomis collaborated on a webinar, “Crisis Management & CASH: COVID-19 & Future Pandemic Planning” to provide insight for banks and credit unions to understand and adapt to the new regulatory guidelines set forth by the FFIEC, FDIC and NCUA.
“We are thrilled to be partnering with Loomis to provide much needed support to financial institutions nationwide as they face unprecedented times and look for solutions to solve real-time challenges around the cash supply chain,” said Douglas Ceto, President and CEO of logicpath. “This is the first time since 2008 that the FDIC and NCUA have updated their guidelines for pandemic planning and both Loomis and logicpath are partnering to provide expert guidance on supply chain management best practices as it relates to cash and helping financial institutions both today and into the future.”
“The dramatic 20% increase in cash demand in the market has made it more important than ever for us to be there for our clients,” said McKay Barnes, Executive Vice President of Loomis. “Our clients are our top priority and the partnership with logicpath allows us to provide a unique perspective on client recommendations for the new supply chain guidelines in the current cash climate.
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/.
Loomis offers safe and effective comprehensive solutions for the distribution, handling, storage, and recycling of cash and other valuables. Loomis customers are banks, retailers, and other operators. Loomis operates through an international network of more than 400 branches in more than 20 countries. Loomis employs around 24,000 people and had revenue in 2017 of SEK 17.2 billion. Loomis is listed on Nasdaq Stockholm Large-Cap list. For more information, visit https://www.loomis.us/.