Cash-in-Transit costs are a significant part of the cash-related operating costs of banks and other financial institutions. It does not matter if the bank has its own CIT service or uses the services of a third-party organization (CIT outsourcing).
Optimization of human resources of the cash collection service and cash centers
Reducing operating cost of special CIT transport (armored carriers)
Decreasing expenses on fuel and consumables in cash logistics
Reducing insurance cost of transported cash and valuablesEven if the bank outsources cash collection, the costs are taken into account to calculate a final service fee for the bank. This cash-in-transit solution helps to minimize the number of visits and increase flexibility and control over the processes and provide high-quality cash management to its customers.
Given boost for CIT service manageability empower your company with compliance to:
Moreover, CashManagement.iQ allows cash collection services to automate a significant part of the ATM Cash Loading process. Managing cash orders, route planning, inventory management, and physical access to self-service devices and prohibited premises (security rooms, armory, recounting offices) are automated.
Learn how to achieve and maintain operational excellence and transparency.
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Deputy Head of Retail Business Management Department, Basis Bank, Georgia
Head of Operational Support Department at TBC Bank (Georgia)
Head of Treasury Department at BasisBank (Georgia)
During the first two months of using CashPoint Monitoring.iQ, we were able to reach 25% of savings on rent of the cash. Besides, the solution allowed us to save internal resources (first of all, staff). In order to monitor and analyze cash supply chain using the Cash Management.iQ solution, one cash professional needs to work only for two hours a day.
The bank receives information about cash balances at ATMs from the processing center. The frequency of data transmission can vary, but this information is not enough for the optimal cash distribution to ATMs and CIT planning. For these purposes, TBC Bank uses Cash Management.iQ solution.
Cash Management.iQ software solution provides us the information on cash balances in ATM’s in real time, which allows us to more accurately plan the time of cash collection and cash optimal amount by ATM’s, as well as to reduce logistics costs.
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