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Innovative Solutions for ATMs and Cash in Transit

Increasing productivity, reducing errors and increasing revenue per unit time are among the most important stages of cash logistics operations. Cash security and financial efficiency can be ensured through vertical applications that can be integrated into existing financial software and banking systems at the corporate level. Take a closer look at three key innovations that make it easier than ever to solve problems with ATMs and cash transactions.

Automatic Data Collection and Control

Depending on usage, ATM problems encountered may cause operational banking transactions to be disrupted. The ability of the systems to be operated remotely provides immediate response to problems. With instant reports to the network operator, information can be retrieved from a single ATM or from all ATM groups connected to the network. Information obtained and updates developed; a specific date, time, file format can be assigned. For example; reports on transaction movements are prepared once a week, while photo and video recordings can be backed up daily. All data needed by the ATM fleet can be monitored remotely and easily managed with a single management platform

No Need Manual Software Support and Maintenance

It is important that ATMs equipped with high technology work smoothly so as not to let their customers down. Thanks to remote intervention possibilities, ATM fleets can be easily updated without the need for manual software support and maintenance. Data security is maximized thanks to the end-to-end encrypted TCP/IP connection, powered by external software. Remote intervention with mobile application support can also be used to update security scenarios for ATMs on the network. Data recorded with the video content analysis feature can be quickly classified and irrelevant recordings can be disabled. 100% visibility through online monitoring.

Top-Level Security in Cash Logistics Through Online Tracking

Remote management ensures secure information transfer between the administrator workstation and the data acquisition device. In this way, it is possible to avoid problems such as instant tracking, physical document control and location sharing during the cash transfer. Just like cargo transportation, cash logistics can be reported on all stages with day, hour, location and courier basis. The paperless operation minimizes the risks caused by human errors. With digitization and automation, it becomes commonplace to get rid of traditional cash handling procedures, avoid unnecessary costs and secure cash deposit flow.

ManageCash cash logistics management software increases operational feedback alternatives, cash handling capabilities, and data processing options. Thus, financial institutions and banks can easily eliminate all the risks they may face during the cash transfer process.

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IoE-Internet of Everything.

Internet of Everything IoE

The Internet of Everything (IOE) is the final stage of the evolution of the Internet of Things (IoT). I have summarized the differences between these concepts, possible developments and predictions for the future …

What is IOE?

Internet of Everything (IoE), “Bringing people, processes, data, and objects together to make network connections more important and valuable than ever, making information for individuals and countries new capabilities, richer experiences and unprecedented economic opportunities for businesses” (Cisco, 2013).

In short, IOE aims to provide new acquisitions by combining Objects, People, Processes and Data intelligently over the Internet. The IOE is the processing of state-of-the-art information about the billions of objects associated with the standard protocols on public or private networks around the world, and the processing of intelligence processes accordingly.

IOE consists of four main components:

· Human: Connecting people in more appropriate ways

· Data: Converting raw data into meaningful information to make more accurate decisions,

· Process: Delivering the right information to the right person (or machine) at the right time.

· Object: Physical objects connected to each other over the network for intelligent decision-making, also called (IoT).

The difference between IoE and IoT…

In the Internet of Everything (IoE) concept, people, processes, and data live on the IoT ecosystem. IoE will make our lives better by integrating the power of the Internet with developments in business and industry with developments in the Internet of Things.

IoT is a network of physical devices connected to the Internet, which can read and communicate events around them and make automatic decisions. For example, the Nest smart thermostat, famous for its purchase of Google, is one of the first examples of these devices.

IOE will carry out business models and processes on this network and brand new ways of doing business will emerge. First of all, exciting developments such as Big Data, data-based forecasting, and autonomation will enter human life.

As a result, the philosophy of human and machine coexistence expected in the new era of Industry 5.0 will be based on the IOE concept.

https://www.cisco.com/c/dam/global/en_my/assets/ciscoinnovate/pdfs/IoE.pdf

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Case Study: Digitalization of Industry Leader’s Cash Logistics Processes

A white paper on Digitalization of Cash Logistics Processes | by Otokod Technology, 2019  

Background: Most of the CIT companies are in lack of the necessary automation for order collection, processing and tracking orders in the field. Most processes are still conducted manually and manual processing requires filling in many paper forms. This was the case with Bantaş in the early days of its foundation.

As the transaction volume of Bantaş increased, the need for traceability of the operations became a necessity and Otokod implemented ManageCash (formerly known as MODAS-Mobile Distribution System) for Bantaş, and it was coupled to Bantaş ERP System.

Bantaş’s own ERP System and ManageCash system is now fully integrated, automating the work orders and control of the cash to be transported in the field, cash handling with barcoded security seals, counting, transferring and finalizing orders on touch-screen kiosk PCs.

Also, an Android mobile application was developed on handheld terminals for safe, fast and accurate execution of field operations. In addition, the Central Bank transactions were performed automatically and daily transactions were optimized.

 

Benefits of digitalization: There has now been a significant reduction in operating costs, time and errors as can be seen below.

Summary of Overall Benefits:

Vehicles are checked online against their insurance limits.Minimizing human errors (up to 30%)
Improving on SLA performance/increasing ATM uptime
Tracking liabilities online (100% visibility) through barcoded security sealsSupporting ATM checklists with Android mobile application
Reduce total cost of ownershipReduce employee overtime
Paperless operations & e-WaybillSaving on transaction duration per stop
And more… 

Bantaş (founded in 2009) is the leading cash logistics company in Turkey which is a joint venture of three leading commercial banks namely
Denizbank (Sberbank), QNB Finansbank, and TEB (BNP Paribas).

Otokod empowers financial institutions and Cash Logistics companies in driving up process optimization and bringing tangible speed and cost reduction throughout the Cash Supply Chain since 2011. It has been ensuring profitability and fast ROI with its innovative software solutions.

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nakit lojistiğinde izlenebilirlik

Traceability is very important, especially when you’re in Cash Logistics Business…

The first priority of the CIT-(Cash-In-Transit) industry is security, and the second is that this cash is delivered smoothly and on time.

There are armored vehicles are monitored remotely in the operation, field operators are trained, but these are only for the physical safety. The cash is carried should be constantly monitored with the principles of 5WH (What, Why, Where, When, Who, How) as well.

It should be prevented of potential frauds and risks and proactive management of field operations should be provided in this way. In addition, customers want to see the status of their work orders instantly.

In all cash handling and transfer processes, an integrated IT infrastructure that traces end-to-end traceability must be established, and it should conduct field operations using smart devices and data collection technologies like Barcode, RFID, etc.

Cash handling will ensure savings and optimization in processes, excellence in operational awareness, reducing costs and reputation in customer satisfaction.

Customers can track instantly status of SLAs, work orders, insurance limits with web based dashboards. Also they are in operational awareness and ensured of reducing cost of operation, field team optimisation and prevention of frauds with these kind of systems.

We offer end-to-end solution for all operations in this sector with ManageCash developed for Cash Transport Industry.

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