Tuesday, 05/10/2016

ZAG, standard containers & co.: Bundling forces through 'pool bank' while retaining transparency

When the Bundesbank (BBk) terminated the accounts of cash logistics companies with the BBk in 2012 and the BaFin defined the ZAG (Payment Services Supervision Act), savings banks, banks, and cash logistic companies were faced with one challenge after another regarding cash logistics. At the same time, the BBk mandated the "standard container for coins," which significantly changed the previously proven processes. The solution was "pool banks" - and with the right management software, transparency is maintained. A strategic recommendation from Alvara.