Optimization through integration
Integration allows vulnerabilities to be transformed into optimization potential. The first fully automated vault-management system in Rwanda proved that a holistic, integrated approach is the most reliable way to maximize operational excellence and security long into the future.
G+D’s high-speed banknote processing systems are amazing pieces of machinery that swiftly and accurately process cash. However, if you don’t feed the machine with banknotes fast enough, the machine will not reach maximum performance. In other words, if – figuratively speaking – one cog in the larger machine that is the cash cycle falters, every other stage is impacted and becomes less efficient or more costly.
The key here is integration: integration between hardware and software, between artificial intelligence and workers, between each stage of cash processing, and even between actors in the cash cycle. Ferenc Szelenyi, Managing Director and Group Vice-President Middle-East and Africa, says, “With a fragmented approach, you can only fix one part of the process, or one process point. With a holistic approach, you fix the whole chain of processes.”
We added an integral missing piece of the puzzle to the cash cycle in Rwanda, allowing them to reach their full potential.Ferenc Szelenyi, Managing Director and Group Vice-President Middle-East and Africa, G+D Currency Technology
Applying an integrated approach in Rwanda
Szelenyi comments on the implementation of the first fully automated vault-management system for the central bank of Rwanda – a project that fully embraced an integrated and holistic approach. “What they have right now is a fully integrated solution to run the cash into the central bank. This means processing cash, finding counterfeits, understanding what’s happening with the banknotes, bringing in new banknotes, and supplying the entire country with cash – all in the most optimal way. We added an integral missing piece of the puzzle to the cash cycle in Rwanda, allowing them to reach their full potential.”
Completing this puzzle began with analysis — a critical step that generates powerful outcomes. It is crucial to first gain a solid understanding of the cash demands and circulation patterns in the country. By looking back at inflation, population growth, and macroeconomic issues from the last 15 years in Rwanda, G+D took into account how money is distributed in the country. Following the analysis, the consulting team then examined which solutions should be used to optimize processes at a meta-level. During and after the implementation stage, such integrated solutions are constantly reassessed and revisited to ensure that the most effective approach is always employed.
One particularly important component, which posed a particular challenge for the Rwanda project, is the implementation of software. By using sophisticated modern architecture, software provides insights into what is happening inside every machine and along every stage of cash management. Security is increased because the central bank knows exactly what is in each box, and efficiency is enhanced because the central bank has a better understanding of how much money the country needs at any given point in time. For example, taking certain Rwandan local holidays into account through predictive methods ensured that cash supply and demand remained consistently and accurately aligned. This made it possible to eliminate redundant trips or processes, and ensured that costs remained low.
Software, standardization, and savings
The automation project at the National Bank of Rwanda revolutionized the way the central bank processes, destroys, and stores cash. Taking a fully integrated approach and controlling everything with software greatly enhanced efficiency and minimized security risks. The implementation of a new cash center with standardized cash boxes, intelligent robotic systems, and real-time inventory management control even allowed them to achieve a 300% increase in inventory. Beyond such figures, the rollout had positive implications for the whole country.
“The vision to automate operations is part of the bigger vision of the National Bank of Rwanda of becoming a world-class central bank,” said Hon. John Rwangombwa, Governor of the National Bank of Rwanda.
G+D is already engaged in other projects that involve fully automated components within a cash center and large-scale multibank cash centers. By combining innovative and cutting-edge technology with tailored analysis and optimization, such projects provide a whole suite of benefits for players across the cash cycle. This integrated approach will also guarantee the availability and competitiveness of cash well into the future.
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An optimization for more security and more efficiency
G+D realized the complete rollout of the first fully-automated vault and vault management system in Rwanda