Cash Processing Solutions News
Marianna
The Federal Reserve Banks offer FedCash Services to help ensure that depository institutions have sufficient supplies of currency and coin to meet public demand. The Federal Reserve Banks act as a distribution center for the issuance of new currency designed and printed by the Bureau of Engraving and Printing (Off-site), and for new coins minted by the United States Mint (Off-site).
To drive improved efficiency, security and risk management of currency and coin processing, the Reserve Banks are advancing technology and delivering greater standardization of services across the Federal Reserve System. Today's FedCash Services are easy to use and provide consistent, timely and robust services and information.
Bringing greater transparency and efficiency to cash handling logistics through our work with financial institutions, armored carriers, U.S. merchants and GS1 US. Cash Visibility is a joint industry initiative to develop a framework that will identify, track and share data about cash packages as they move between cash supply chain organizations. Collaboration with industry partners to implement Cash Visibility is essential to building a resilient cash supply chain that can meet public demand.
The FedCash E-Manifest Service enables financial institutions and armored carriers working directly with the Federal Reserve to electronically process currency deposits and orders at Fed docks using industry supported data standards. With the E-Manifest Service, armored carriers, on behalf of their financial institution customers, can share and receive electronic information in real-time, greatly improving the transparency and efficiency of cash supply chain logistics. There are no fees from the Fed to use this service.
To ensure the fair and equitable distribution of coin inventory to all depository institutions during the Pandemic, the Federal Reserve Banks and their coin distribution locations allocated available supplies of pennies, nickels, dimes and quarters to depository institutions. This page is intended to serve as a helpful resource in understanding both the state of U.S. coin during the COVID-19 pandemic and provide updates to the ongoing efforts by the Federal Reserve Banks, FedCash Services customers, armored carriers and other key stakeholders working together to get coin moving.
A coin depot is an alternative coin distribution arrangement that enables the Federal Reserve Bank to service its customers that are not currently serviced by a coin terminal. Similar to the coin terminal program, a coin depot is an outsourced arrangement with a vendor that provides coin services to Federal Reserve Bank customers in lieu of those customers accessing the Federal Reserve Bank dock. This program complements, and does not replace, the coin terminal program and may be operated by an armored carrier (AC) or non-AC entity.
A coin terminal is a secure facility operated by an armored carrier that holds Reserve Bank inventories of coin, and that receives deposits from and fulfills orders for coins from depository institutions on behalf of the Federal Reserve Bank. Coin terminal operators are contracted by the Federal Reserve Bank to perform these services and manage the coin terminals using FedCash Services via the FedLine Web Solution.
Each Federal Reserve District maintains currency depositing and ordering operations to accept deposits of excess and unfit currency and process currency orders. To accommodate the growing demand for U.S. currency domestically and abroad and to replace destroyed or unfit currency, the Federal Reserve Board of Governors issues newly printed currency each year, and the Reserve Bank offices distribute those notes to depository institutions. The Federal Reserve Banks fill orders for currency with fit currency first and then with newly printed currency. In order to operate efficiently and reduce societal cost, the Federal Reserve Banks encourage the recirculation of fit currency by depository institutions pursuant to the FedCash Services Currency Recirculation Policy.
Using FedCash Services, you can order and deposit currency, monitor and manage cross-shipping activity, and access information regarding exception processing, including mutilated, contaminated, or counterfeit currency.
The Custodial Inventory (CI) program is a feature of the Recirculation Policy that allows participating institutions to hold currency inventory in their vaults on the books of the Federal Reserve Banks. Depository institutions and armored carriers, who operate outsourced CIs on behalf of depository institutions, manage CI sites using FedCash Services via the FedLine Web Solution.
This tool is designed to be a secure and powerful solution for placing orders for currency, coin and supplies; sending deposit notifications; receiving deposit difference notifications; monitoring and managing cross-shipping activity; managing custodial inventories, and coin terminals and coin depots; and activating self-service control of FedCash Services for your institution.
Under the terms of the agreement, De La Rue has received 2.1m upon completion of the transaction. In addition, a deferred consideration totaling 1.5m will be payable in two equal installments on the first and second anniversaries of the transaction. The Group will also be entitled to a further contingent consideration with a maximum payout of 6.5m in the event that certain performance related and event driven milestones are achieved by CPS. Taking account of associated costs, the transaction is anticipated to be cash neutral overall to the Group at completion. Separately, the Group has entered into a strategic partnership with CPS.
Following a root and branch review, we have concluded that whilst CPS has a good product profile and long term customer relationships, we do not believe that this is a business which should form part of our portfolio. The sale will enable De La Rue to focus on its core business and future growth areas, as well as allow CPS to achieve its full potential under the new ownership.
De La Rue is a leading commercial banknote printer, security paper maker and provider of security products and software solutions and, as a trusted partner of governments, central banks and commercial organisations around the world, is at the forefront of the battle against the counterfeiter.
As the world's largest commercial banknote printer, De La Rue provides customers with a fully integrated range of sophisticated products and services which are available either individually or as a whole. This includes a leading design capability, production of innovative security components, manufacture of security paper and polymer substrates and sophisticated printing of banknotes, all contributing to trust in the integrity of currencies.
De La Rue is the world's largest commercial passport manufacturer in an environment of increasing global concern over security at national boundaries and border control. De La Rue also produces a wide range of other security products, including tax stamps for governments who are seeking to combat illicit trade and collect excise duties. Other products include authentication labels, assuring purchasers of product validity, and government identity documents.
From the cage through the casino floor to your restaurants and stores, automating your cash processes will enhance security, increase efficiency and allow your staff to spend more time focusing on your guests.
GLR Series are our high-capacity banknote recyclers that support customer transactions as well as bulk merchant note deposits. Enabling you to deliver a new branch experience to your customers by increasing cash processing efficiency, allowing more time to be dedicated to customer interactions.
CPS is the industry's only independent global provider of customer focused, end-to-end, data-driven cash management solutions, developing long-term partnerships with our customers to safeguard their reputation, optimise their efficiency and protect their investment. CPS provides complete cash centre consultancy, data & software solutions and sorting machines, supported by a global service team, to central banks, commercial processors, retailers as well as single note inspection systems to banknote printworks, across the world. Our integrated solutions enable our customers to have full control and visibility of their banknotes and crucially, own their banknote data, at all stages of the cash cycle from production to destruction.Our global customer base in over 100 countries, combined with more than 60 years in the industry, gives us the specialist knowledge of global cash cycle trends and currency management we need to ensure our solutions are tailored to meet our customers own objectives. Our on-going support and flexible service packages provide truly future-proofed solutions, enabled through our local presence, global knowledge and a proven ability to deliver bespoke requirements.
The Paypod portfolio delivers value to retailers by reducing checkout lines, increasing sales, and easing the burden of labor shortages. With reduced time spent on cash management, staff can focus on customer services that drive growth. The new Paypod Compact is a front-access solution compared to its rear access and tabletop predecessors, making it the perfect fit for integration into multiple applications. This sleek cash automation solution provides a streamlined and efficient payment experience for every customer while maximizing available floor space for retailers.
About CPI: Crane Payment Innovations (CPI) is part of Crane NXT, a premier industrial technology company. CPI provides a full range of unattended payment solutions aimed at Gaming, Retail, Transportation, Vending and Financial Services applications. CPI is built on the technological heritage and market expertise of the Conlux, MEI, NRI, CashCode, Telequip, Money Controls, and the Cummins-Allison brands. CPI is headquartered in the United States with further offices, manufacturing facilities, distribution, and service centers worldwide. For additional information, visit www.cranepi.com.
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