Payments
By using remote cash management solutions, banks can reduce the overall cost of cash.
Photo: Adobe Stock
March 25, 2025 by Bradley Cooper — Editor, ATM Marketplace & Food Truck Operator
The ATM industry is obviously a cash heavy business, and that brings a lot of problems. There’s the issue of decreasing cash usage (although it has largely hit a floor that’s unlikely to move as data from the Federal Reserve suggests), and the cost of managing cost.
There are several ways to manage or reduce the cost of cash. One is to tackle the cash replenishment issue by reducing the number of times banks need to call an armored truck to refill the ATMs through cash recycling technology.
Another tool is to use remote solutions that can carefully analyze cash needs and only order replenishment when needed. This can also help reduce downtime and in turn decrease the costs of ATM management.
To learn more about the cost of cash and how to reduce that cost, ATM Marketplace reached out to Jim Petit, president of currency management solutions at Giesecke+Devrient GmbH.
Q: With decreasing cash usage, what would you argue as the importance of cash processing?
Jim Petit:
- Cash continues to play a vital role in our lives because it represents trust, security, and personal control. It serves as a financial safety net and as the most inclusive payment method, one that also protects the privacy of the individual.
- Cash, as the only form of public money, is a stabilizing factor for economies and truly inclusive. We are likely to see more and more governments regulate maintaining access to cash to secure its availability in times of network outages and crises.
- As banks close their branches and ATMs, the provision of cash must become more efficient and cost-effective. There is a necessity for the whole ecosystem to implement efficient, modernized cash operations to ensure a resilient, accessible and efficient system that can respond flexibly to fluctuations in cash requirements.
- There is a strong need for collaboration to streamline operations, improve service delivery and make cash processing more efficient.
Q: Cash is expensive to handle both on a logistical side and security side. What are some tools and tactics to reduce that cost?
Jim Petit:
- We make banknote processing hyper-efficient through automation, intra-logistic standardization and data-driven technology — reducing the cost of cash handling to keep it attractive and competitive.
- By employing advanced forecasting tools, financial institutions can analyze patterns in cash demand and replenish only what is needed, reducing waste and ensuring a smoother flow of currency.
- The performance of machine-based currency processing can be improved significantly with access to high-quality data. Real-time visibility and detailed overviews of throughput rates and rejected banknotes, for example, can be used to optimize operations and enable more data-driven decisions.
- The standardization of banknote containers (vs disposable packaging of banknotes) can drive a new wave of automation, operational efficiency, resilience, security, and sustainability across the cash cycle. It will require currency operators to collaborate on a shared approach.
- Remote service solutions are emerging as a vital strategy to maximizing cash management efficiency.
Q: Let’s talk a little bit about remote solutions for cash management. What are they and what do they do?
Jim Petit:
Maximizing system uptime is crucial for maintaining efficiency and productivity in cash processing operations. Strategies like preventive maintenance and automation help keep the systems efficient, but occasional system failures remain a concern. When additional expertise is needed, remote service solutions using technologies like AR, live video calling, and remote diagnostics can assist on-site technicians and operators to swiftly restore systems to operational status.
Advantages include faster resolution (no need for on-site visits, reduction of service time), maximized uptime (higher system availability, preventing financial losses), and increased efficiency, Beyond repairs, remote solutions can also be used for online updates, configurations, and training.
Q: How can they reduce carbon footprint?
Jim Petit:
Remote service solutions reduce the environmental impact with fewer on-site visits which means reduced carbon emissions. This applies to remote software distribution when doing updates or using remote troubleshooting, diagnostic and depot service models as a means of reducing emissions by minimizing dispatching trucks to sites for repairs. It helps a business align with its ESG objectives.
For businesses processing larger volumes of cash, the sustainability benefits, as well as the time and cost savings, are significant.
Q: How can they help prevent ATM downtimes?
Jim Petit:
By authorizing secure remote access to its cash processing system, an expert could quickly identify the problem and perform the necessary diagnostics or repairs. If on-site intervention is necessary, remote support can assist in-house technicians through AR-enabled video guidance. If an external technician is required, they will arrive fully prepared with the necessary parts to promptly restore system functionality, minimizing any additional delays.
Remote service solutions are emerging as a vital strategy to maximize system uptime. It is crucial for maintaining efficiency and productivity in cash processing operations. Neglecting this can disrupt the broader cash cycle, damage customer trust, and lead to significant revenue losses and downtime costs.
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