Financial Institutions (FIs), especially Consumer Banks, today are in a challenging position: Despite an ever-growing number of payment options, consumers are still turning to physical cash as their #1 payment instrument and central bank statistics in the vast majority of countries show a steady increase in the amount of cash in circulation.
In most parts of the world, banks are the principal providers of money and financial products, and the responsibility for provision of cash lies with them. While the precise details of their cash strategy varies greatly between banks, a key element for all is the cost factor. It follows that cost optimization is vital.
This is precisely where planfocus’ Cash Cycle Optimization can significantly reduce the cost burden. It will cut the monthly invoice for cash transportation and, in countries where interest rates for network cash matters, it will reduce bound capital.