Forecasting Cash Flow by Weather
Banks now have a new factor to weigh when predicting how much cash automated teller machines may need: the weather. A service from Transoft International links electronic weather forecasting services with a Transoft cash management module. The result is a system that can tell a bank that on a particular day, outside automated teller machines won't need as much cash as inside machines because rain will discourage consumer use of the unprotected machines. The software also can alert banks when cash shortages may occur due to severe weather conditions such as hurricanes and flooding.
The company said it developed the system in response to input from some of the largest banks in the world.
Copyright © 2005 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 14, No. 11, 1/05
First published on 01/01/2005