- Cash solutions is among the leading provider of End to End Cash Management solutions in the Saudi Arabia region
- Cash Solutions is SAMA’s prime consultant for the Multi-Bank Cash Centre project
- Offers the latest cash management products and services in the globe to Central & Commercial Banks, CITs and other industry stakeholders
- Vaultex is the largest UK cash processor, processing 40% of UK cash in 2017
- We are a joint venture between Barclays and HSBC and work for leading clients both in UK and overseas
- Our additional services (Consultancy, Forecasting, Managed Services) optimise our customers’ cash management
- Fragmented processes and duplication of infrastructure, resulting in low synergies across stakeholders
- No regional (re)balancing of cash, resulting in duplication of counting and sorting activities by SAMA and commercial banks. Moreover, SAMA branches are typically used to store, sort and redistribute
- Low third party service levels of commercial banks and CITs
- Commercial banks less willed to accept or exchange small denominations
- CITs not meeting service levels or SLAs resulting in reduction of ATM uptime
- Low purchasing power with suppliers
- High fixed costs for each operator
- Lower volumes make business case for automation harder
- Manual, inefficient processes
- Large ‘super-centres’ in urban conurbations to meet demand
- Costs shared between clients depending on usage
- Able to drive down supplier prices
- Able to automate processes and achieve efficiency gains
People
Plan resource and capacity to meet demand Recruit skilled people into key MBCC roles Focus on training and performance management Cross train employees to provide cover
Benefits
- Long term efficiency and control
- Mitigates risk of potentially critical errors in Accounting and Vault
Process
Single accountable party Use of Transtrack CWC to automate elements of workflow Streamline processes, minimising counts and touchpoints Full audit trail with timestamps for all touchpoints
Benefits
- Optimised processes balancing efficiency with control and accuracy
- Full audit trail, segregation by bank
Technology
Utilise desktop note sorters Utilise Transtrack CWC to manage end-to-end workflow Ensure a preventative maintenance plan is in place Trained ‘super-operators’ for FLM
Benefits
- Sorting equipment to optimise balance between cost, control and accuracy
- Automated workflow and audit trail
Security
Security model to meet risks and threats At minimum, investment in CCTV, alarms, guards and access control Ongoing risk management Audit process to ensure conformance
Benefits
- Effective protection of employees & assets
- Assurance that procedures are followed and model is fit for purpose
- Complex supplier management…
- Multiple contracts
- Disjoint processes and reporting
- Complex performance management
- …Which can potentially lead to lagging practices
- Reduced efficiency through poor supplier performance and lack of optimization
- Lose market share through low innovation and development
- Increased risk due to security gaps and poor monitoring
- Streamlined supplier management…
- Single contract
- Single point of contact for issues
- Single reporting and set of metrics
- ..Which leads to application of leading practices
- Increased efficiency through optimization of people, process and technology
- Growing market share through development of compelling propositions
- Effective risk management to meet threats
- Improve note quality
Our end-to-end approach will assess wider product development opportunities throughout the supply chain, creating compelling propositions for your clients and opportunities for additional revenue.