Digitalization across the Cash Cycle
The Benefits of Intelligent Networking with Maximum Security
There’s no question that digitization has long been an integral part of cash management. Online banking is on the rise. Loans are issued digitally. Services are more readily accessible, more transparent, and often available around the clock. Customers pay by cash card, contactless via NFC technology or using a payment app. In addition, fintechs and the digital Bitcoin currency are new players on the market. The financial sector is more fast-moving and volatile than it has ever been,
and today we find ourselves in the age of the Internet of Things, in which computers and their applications interact with other objects. Nowadays, ATMs are closely networked and send out a synchronized update on their current cash level. Banknote processing systems collect the serial numbers and information on the condition of the notes during authentication and fitness testing. This means that Big Data solutions enable the entire cash cycle to be optimized, whether by reworking banknote design, or through detailed, accurate capacity planning for the utilization of personnel and machines. At the same time, remote services make it easier to maintain the systems.
Read about the benefits and challenges that smart networking brings to this high-security environment.
To drive efficiency and provide higher visibility across the entire cash cycle, Cash-in-Transit (CIT) companies can leverage cash logistics systems. By including route planning, mobile route operations, track & trace, contract management, and billing, these new systems can dramatically improve operational efficiency, automate key processes, and optimize decision making.
Digitalization will leave no corner of the industry unaffected. This is particularly true for advances in big data analytics, artificial intelligence and the Internet of Things (IoT). The currency management sector is a perfect example – greater connectivity is already improving the way banknotes are processed and sorted.
Eight reasons why organizations need an enterprise data strategy, that is practical, relevant, evolutionary and connected.
The CERN’s particle accelerators generate more data than any other place on earth. But how to process hundreds of petabytes of data every year? With a network based on technology and trust.
The currency industry has been incorporating and implementing digital solutions for the past couple of years. While cash will keep its importance even in the digital age, underlined by the growing demand for cash, digital technologies will enhance the efficiency of the cash cycle. Dr. Wolfram Seidemann, CEO of G+D Currency Technology, talks about combining both worlds.
Regarding the cash supply, e.g. after natural events like earthquakes, data intelligence offers crucial insights to handle all information and derive the right decision. Due to its ability to visualize, analyze and simulate disasters, it can dramatically change humanitarian operations and crisis management.
When consumer expectations of convenient, functional, and service-oriented apps collide with security, time is needed to bridge that gap.
In an increasingly digitalized world, central and commercial banks require new and smart solutions. Intelligent automation is the key to more efficiency in the cash cycle. Currency News spoke to Wolfgang Kneilmann, Head of the Currency Management Solutions and Member of the Management Board at G+D Currency Technology.
Banknote checking in the cash cycle requires central banks to ask how best to navigate the path between quality and cost. A software program helps to determine optimum sorting thresholds.
Welcome to Planet Lean during a new age of digitalization. Here’s some help for navigating the opportunities and uncertainties arising from this great wave of technological change.
Cash and software complement each other beautifully: The cost-efficiency of banknotes in production and in the cash cycle can be significantly improved with the aid of Artificial Intelligence (AI).
Banknotes can be produced more efficiently if the rate of printing faults is reduced. Single note inspection alone is not enough, but with smart analysis software, printing plants can use their data to limit the number of faults in the process...