Cash is on the brink of its end. Far from it! Especially for Germany, one can say: coins and notes have a future. To keep it bright, though, there needs to be a shift in cash handling – towards modern cash management. In this context, CashCon invited participants again this year to look at current challenges, tangible developments, and profitable solutions together.
Cash in Tune with the Times
How do financial institutions and retailers handle cash processes today and tomorrow? How do they achieve more efficiency and security? How can costs be reduced? And do new ideas and solutions deliver what they promise? For two days, participants explored these questions at this year's CashCon. The prestigious cash congress was hosted by GS1 Germany and the EHI Retail Institute in cooperation with ALVARA | Digital Solutions from January 23 to January 24, 2024, in Cologne.
Leaders and professionals from the banking sector, retail, and cash transportation companies accepted the invitation and used the event to exchange ideas, discuss hurdles, and find solutions for the increasingly challenging cash logistics – with successful outcomes, in our view.
ATM Explosions – Security Potentials and Automation
Cash in tune with the times: the motto of CashCon is also its program. Thus, it was only logical to address the issue. In recent years, attacks on ATMs have steadily increased. Various presenters showcased innovative approaches to counteract perpetrators. Gerrit Stehle of Elephant & Castle Capital GmbH, for instance, introduced the so-called digital ink bomb: a security net resulting from processing tracking information to serial numbers, weaving invisibly around cash for attackers. Our solutions and ALVARA ICC support this through automated and integrated interfaces.
Although ATM explosions are mainly tackled through structural and technical security measures, digital approaches also have their place. Software as a tool to efficiently protect ATMs offers automated alerts and risk assessments based on heat maps.
Cashback in Retail – An Upward Trend
Retail representatives listened intently to the presentation by Niko Korakianitis (REWE-Zentralfinanz). The speaker focused on experiences and challenges regarding cashback in retail. The takeaway: cashback continues to gain importance, which is why many retailers offer this option – as an alternative to the ATMs of financial institutions. Critically, from their perspective, are the high fees on transactions. This topic sparked a lively discussion with the audience.
What this specifically means for retail is still speculation. However, we think it's likely that this development will impact cooperation with cash service providers. On one hand, the amount of cash collected might decrease, as less paper money remains in the store. On the other hand, if cashback continues to grow, the demand for paper money might change, for example, requiring smaller notes. This is why we always appreciate practical insights at trade fairs and congresses to adapt and improve our solutions.
By the way: For this reason, we host our annual Cash Dialogue Retail – an expert meeting specifically for retail company representatives. This year, we will gather on April 25, 2024, in Karlsruhe. More information to follow!
Sustainability – Focusing on Solutions
The aspect of sustainability in the cash industry was intensely discussed. The focus was on logistics optimization and packaging reduction. Cash service provider Loomis is currently engaged in the latter. They are exploring the use of reusable instead of disposable safe bags in pilot projects to avoid waste and reduce CO2.
The European Central Bank (ECB) has also been addressing ecological sustainability for several years. In this context, the electricity consumption of ATMs, transport, consumables, paper production, and other factors were identified as major contributors. Gerrit Stehle tackled these issues and presented an innovative proposal on how Bundesbank transports can be reduced by using banknote serial numbers.
Conclusion
Two days full of exciting topics. We enjoyed the presentations and discussions very much again this year. Our highlight: The participants clearly advocated for the growing importance of digitalization and automation, as well as sustainability, in their respective areas. It is not always clear that numerous solutions are already available. For example, various approaches for modern cash management are offered, both for cash service providers and for retail and banks.
Cash recycling plays an increasingly important role in both front and back office. Such processes can also be flexibly represented and integrated with ALVARA ICC and the presented solutions, in line with the CashCon motto: Cash in tune with the times!
Cash Processes in Tune with the Times: Made Easy with Digital Software Solutions! Let's discuss your possibilities together.