Cash Visibility and Collaboration

This year, the International Association of Currency Affairs (IACA) is concentrating on cash visibility and collaboration. In the first of a series of webinars leading up to the Banknote Conference in Fort Worth, Texas, in May, Glory Global Solutions led a discussion about the benefits of using serial numbers on banknotes to provide data that can be used to manage cash and the cash cycle better.

In addition to Glory, Piraeus Bank and the South African Reserve Bank (SARB) also spoke before a moderated panel discussion took place.

Why is more cash data needed?

Central banks have the challenge of being able to pinpoint where exactly cash is. This has become more difficult – partly as the result of outsourcing cash processing to the private sector, and partly because of an increase in localised cash recycling, particularly with a growth in the number of Smartsafes. While the ‘owners’ of cash know where it is, central banks don’t.