BB&T Selects NuTech Solutions' ARROW Application to Optimize Courier Routing
CHARLOTTE, N.C.--Nov. 12, 2002--NuTech Solutions, Inc. ("NuTech"), a provider of predictive analytics and profit optimization software for Global 1000 companies, announced today the implementation of its ARROW application at Branch Banking and Trust for courier route optimization.
BB&T will use ARROW to identify optimal courier routes for improved efficiency and cost control.
ARROW handles the complex service requirements of multi-branch banks, which routinely face scheduling constraints, issues distributing workflow into processing centers, and other variables uncommon to traditional logistics scenarios. ARROW takes these variables into account and is able to solve complex scheduling decisions that can adapt easily to address changing needs.
"With ARROW, BB&T will be better positioned to integrate its many branches and transaction processing centers into a routing plan that favors the earliest possible crediting of deposits while optimizing the various courier routes according to staffing, routing and other constraints," said NuTech Solutions' CEO Matthew Michalewicz. "The system is adaptive and evolutionary in nature, which allows it to respond to continued growth, new markets, and one-off problems like occasional weather disturbances."
ARROW is based on a combination of advanced heuristics and evolutionary algorithms. Using these advanced computational methods, ARROW can deliver significant, measurable reductions in transportation costs and travel times as compared to conventional Operations Research based products and methods.
About BB&T
Winston-Salem-based BB&T Corporation, with $79.4 billion in assets, operates more than 1,100 banking offices in the Carolinas, Georgia, Virginia, Maryland, West Virginia, Kentucky, Tennessee, Indiana, Alabama and Washington, D.C. BB&T Corp. is the 13th largest financial holding company in the nation. More information is available at www.BBandT.com.
About NuTech Solutions, Inc.
NuTech Solutions, Inc. provides predictive analytics and profit optimization software products for Global 1000 companies in the financial services, manufacturing, and retail industry, as well as for government organizations. Based in Charlotte, N.C. and with offices around the world, NuTech's products produce measurable increases in financial performance for its users. The company's current client roster includes General Motors, Ford Motor Company, Bank of America, Siemens, BB&T, ChevronTexaco, BMW, Beiersdorf, U.S. Department of Defense, Corning, Polish National Air Force, FujiTec, and Unilever. Forward-looking (safe harbor) statement
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes", "plans", "expects" or "intends" and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.