Friday, 09/22/2017

Cash vs. Online Trade – Innovations for Cash

Over 140 participants from 6 countries received answers to the challenges in cash management at the 7th ALVARA INNOVATION DAYS

Digitization is the key to cost reduction and closer customer proximity in cash management – this was agreed upon by the over 140 participants of the 7th ALVARA INNOVATION DAYS this week in Leipzig. Consumers and retailers have a decisive say in the future viability of cash as a means of payment. More than ever, innovative solutions for networking and the associated cost reduction in cash handling are required. These decide on the attractiveness of proven cash as an anonymous, privacy-protecting, and universally accepted means of payment. The high automation of systems and machines for cash processing plays an important role in this.

In 17 keynotes, expert cases, and best practice presentations, specialists from banks, science, commerce, and financial services provided insights and outlooks on borderless digitization in cash processes 2.0. The German Bundesbank, Fraunhofer Institute, Retail Association, and a study by the Federal Ministry of Finance set the stage with assessments of the status quo and their visions for the future. They strategically spanned the arc from the financial policy perspective of cash transactions in transition, payment in retail, the role of banks in times of digitization, to the revolution in payment transactions through FinTechs. Leading financial service providers like KÖTTER Geld- und Wertdienste and ZIEMANN SICHERHEIT provided a broader perspective on the changes in payment traffic flows and their innovations up to the cloud.

International best practice examples from leading technology companies like G+D Currency Technology or Julong from China showed where the journey in cash management will go. With cash technologies 2.0, engineers and software developers continue to secure their cash for customers in supermarkets.

The industry symposium was accompanied by an exhibition of 14 companies showcasing new technology concepts and developments around cash handling and security. The range extended from payment and coin machines to solutions for banks and cash counters with built-in safes. Tomra Systems, in cooperation with Coinstar, demonstrated efficient ways of cash depositing. INSYS MICROELECTRONICS demonstrated how, with the help of one-time codes, keys are no longer lost when opening safe locks, thus reducing risks and costs. Lock Your World presented their "virtual doorman": pylocx.

The feedback from participants of the two-day symposium was clear: “Professional, personal, performant – one of the best industry meetings in Germany in recent years.” “Interesting and highly informative lectures with new insights and background knowledge.” “A great event with interesting presentations and exhibitors.” “The visit was worthwhile in every respect.”, as highlighted by the participants.

Bernd Hohlfeld, CEO of ALVARA Cash Management Group AG, is very satisfied with the outcome: “The ALVARA INNOVATION DAYS attract more and more actors from cash management to Leipzig from conference to conference, and the contributions and discussions are very high caliber. We are excited to see which projects will develop from the impulses of this industry meeting this year. By the way, the 8th ALVARA INNOVATION DAYS are planned for September 2019, of course, again in Leipzig.”

Exhibitors/Sponsors 2017: