CetoLogic, a leading provider of software and analytics solutions for financial institutions and retailers, announced that Brockton, Mass.-based HarborOne Bank has chosen the company’s C³ Financial solution to centralize its cash management and ordering processes following the $1.9 billion asset co-operative bank’s 2013 charter conversion from that of a credit union to a bank.
“HarborOne Bank required a centralized solution to manage the bank’s expanded cash inventory in efforts to streamline operations and align all aspects of the bank’s cash management process after the shift from credit union to bank,” said Jacqueline Mayo, vice president of Branch Administration for HarborOne Bank. “CetoLogic’s C³ Financial will enable our staff to increase efficiencies with daily cash handling operations by eliminating cash overages and automating cash requests while significantly reducing the bank’s labor efforts.”
C³ Financial’s predictive analytics provides HarborOne Bank employees with the strategic forecasting tools to more proactively identify and predict future cash needs. Additionally, an established and strong integration between CetoLogic and HarborOne Bank’s armored car supplier further improved the bank’s cash ordering process.
“HarborOne Bank realizes that in today’s environment, streamlining and centralizing a financial institution’s cash management process is vital to allow branch personnel to focus on servicing customers and revenue-generating efforts by reducing the time spent on operational tasks,” said David Austin, vice president of CetoLogic. “CetoLogic’s C³ Financial supplies HarborOne Bank employees with forecasts on cash needs based on the bank’s historical cash usage, order and deposit recommendations to guide them to optimal cash levels.”
About HarborOne Bank
HarborOne was established in 1917 as Brockton Credit Union, and has grown to its present size with offices in Brockton, Abington, Attleboro, Mansfield, Middleboro, Randolph, Easton, Canton, Plymouth, Raynham and Bridgewater. To better position itself for future growth, the credit union changed its name to HarborOne in 2004. It became HarborOne Bank in 2013. HarborOne continues to be a local leader in a competitive banking environment. It is chartered by the Commonwealth of Massachusetts and regulated by the Massachusetts Division of Banks. Deposits are insured by the FDIC and the Share Insurance Fund (SIF).
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.
- Banking & Budgeting
- financial institutions
Joanna Braeckel, 678-781-7211