|By Business Wire||
|January 31, 2014 10:05 AM EST||
CetoLogic, a leading provider of software and analytics solutions for financial institutions and retailers, announced a successful continuation of its rapid growth through 2013, with significant industry adoption of both C³ Financial, CetoLogic’s flagship software that centralizes the cash ordering process, forecasts cash demand and streamlines cash management operations for financial institutions, and Deposit Reclassification, the company’s retail sweep program that reclassifies transaction accounts as savings deposits in order to reduce reserve requirements. Some key growth metrics for the year include:
- 25 new Deposit Reclassification clients added, representing a 38 percent growth from 2012;
- Sales of Deposit Reclassification exceeded projected sales by 140 percent;
- 242 new branch locations now using C3 Financial;
- Equal penetration for C3 Financial in both retail banking and credit union sectors (50 percent of new C3 Financial customers are banks, 50 percent are credit unions);
- Strategic integrations established with most major teller platforms for data automation;
- Relationships established with the four major armored car companies to create a seamless communication channel between CetoLogic’s clients and their vendors.
“The growth of our customer base in 2013, for C³ Financial and Deposit Reclassification, is a testament to the effectiveness and accessibility of CetoLogic’s products,” said David Austin, vice president of CetoLogic. “The strategic integrations with third-party providers – including major teller platforms and armored car companies – enable CetoLogic customers to more effectively track cash, mitigate human error and better forecast potential cash needs from one simple interface.”
Atlanta, Ga.-based CetoLogic provides software solutions and analytics to financial institutions and retail organizations. CetoLogic proudly services the needs of more than 1,500 clients in 50 states and Canada. 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. For more information about CetoLogic’s solutions, call 1.877.495.0687 or visit their website at www.cetologic.com.