Banks maintain large and expensive networks of ATMs and Branches across all geographic locations they operate in. Historically, this network has always been seen as a cost center – useful to attract and retain customers, but a large drag on P&L.
In order to maintain adequate cash reserves and avoid a “cash out” in banking parlance, ATM monitoring team and branch managers store excess amounts of cash in each ATM and Branch. While this largely avoid the dreaded cash out scenario, it leads to a new one – “dead cash”. Dead cash is nothing but excess cash lying unused in an ATM or branch vault, sometimes for weeks on an end, depriving bank the opportunity cost of deploying cash which could generate revenue in form of interest.
The Physical Smart Cash Manager (PSCM) solves both issues of dead cash and cash outs with a simple to use interface, backed by a highly accurate machine learning based forecasting engine. It is a fully automated platform to manage cash replenishments and monitoring across the network.
At the heart of the PSCM lies a powerful machine learning algorithm to forecast cash requirements per ATM / Branch for the coming week. By accurately predicting the replenishment amounts, banks can almost totally avoid the dead cash scenario and can divert the extra money towards more productive business lines such as issuing loans or as simple as earning interest on reserves maintained with Central Bank
PSCM comes with an intuitive user-friendly interface, monitoring all aspects of the network in near real time. The monitoring teams know how much to replenish and when, can track near real time cash levels and get real time alerts for the rare anomaly.
You continue to maintain the same standards of customer service if not better, while simultaneously realize millions of dollars in gross profits from your global ATM and Branch network.
Live balance tracking
See near real time cash level balance of all ATMs and Branches across your network
Zero sudden cash outs
SCMs’ accurate forecasts eliminate 99% of all sudden cash outs
Enormous reduction in dead cash
SCM largely eliminates dead cash completely from the entire network
Accurate daily forecasts
Machine learning models predict cash demand per ATM / Branch for seven days into the future
Cash hub integrations
Cash requests are inbuilt into the application allowing branch managers to send and request money from the centralized cash hub
Multi-currency ATMs and Branch networks are fully supported
Global scalable network
SCM solution will automatically work for new ATMs, merged branches etc.
ATM / Branch metadata
Get all summary data regarding the performance of your network to decide where to open new ATMs or which branches to shut
ROI data is available for finance teams to understand the benefits of their investment in buying the SCM
Fully automated and scalable
Zero human intervention required in replenishing ATMs and Branches
Near real time monitoring
Easily monitor the entire network in near real time when required
SCM drastically eliminates dead cash and allows banks to earn interest on this money
The number of replenishment trips fall by 20% on average per year
Banks can expect to save an average of 12-15% on insurance premiums
Banks usually recover the cost of the SCM software within 6 months