ABSA Stays Ahead of the Market With CashWebCommunity From Transtrack International

UTRECHT, The Netherlands, January 18, 2011 /PRNewswire/ -- Absa Group Ltd of South Africa take the first steps to a true Cash Web Community with Transtrack's latest CashWebCommunity suite of management software to elevate their service quality and customer experience.

http://www.transtrack.nl

Key in the success of the bank's Cash Solutions is the use of the latest technology to provide complete end-to-end visibility and provide a platform for future integration of value added services, by implementing modules from the CashWebCommunity platform powered by Transtrack.

"Transtrack has enhanced our ability to integrate and manage the end-to-end cash value chain across previously disparate entities, driving business value through improved vendor performance management and enhancing the customer value proposition." Gawie du Preez - Absa Cash Solutions Managing Executive.

Transtrack International provides sophisticated end-to-end software solutions to cash businesses around the world. The software is aimed at increasing efficiency, transparency and security. From a total cost of cash perspective, the software allows for a decrease of the cost of cash for both banks and retailers. Transtrack's software is web enabled and connects cash businesses within the supply chain. In the field of true cash management, Transtrack is market leader worldwide with their CashWebCommunity suite.

"Transtrack provides software for supply chain optimization and collaboration, enabling the industry to increase their service and decrease the cost of cash." Ronald van Vliet - CEO Transtrack International.

About Absa

The Absa Group Limited (Absa), headquartered in Johannesburg and listed on the Johannesburg Stock Exchange (JSE), is one of South Africa's largest financial services groups, offering a comprehensive range of banking, assurance and wealth management products and services. Absa's business is conducted primarily in South Africa.

In addition to this, the Group has equity holdings in banks in Mozambique and Tanzania.

At 30 June 2010, Absa Group had 718.2 million shares issued and a market capitalisation of R87.3 billion.

At 30 June 2010, Absa had assets of R718.2 billion, 1,043 points of presence, 11,5 million customers, 8,885 ATMs and 36,365 permanent employees.

Absa is a subsidiary of Barclays Bank plc, which holds a stake of 55,5% in the Group. Barclays is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services with an extensive international presence in Europe, the USA, Africa and Asia.

W: http://www.transtrack.nl