Retail banks and retailers face very similar challenges when it comes to processing cash flows, with a high degree of manual operation and the associated costs and security risks. The base technologies employed to optimize cash processes also have much in common. Our cash cycle management (Glossary) portfolio is a perfect example of the use of convergent technologies. The same base technology can also be used to process and recognize banknotes and thus automate the cash processes of banks and retailers at branch level. Our portfolio supports the overarching cash cycle between banks, retailers and the cash centers operated by secure transport firms. We develop our hardware, software and service components in a way that allows cash to be circulated efficiently, locally and in response to demand.
As well as an increase in the volume of cash transactions, all over the world we are seeing an ever greater number of cashless transactions. To ensure that these can be processed smoothly and securely, we have incorporated the specifications of the Payment Card Industry (PCI) into our software applications for banks and retailers. We have also added several major new components to our software platform for retail banks and retailers to deal with the authorization and settlement of card-based transactions.
