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Current and Future Cash Supply Chain and Inventory Management Challenges: Managing Actual Current Demand and Usage

May 26, 2020 | Kelly MacConnell

In the last few blog posts we’ve mentioned seeing a 20 to 24 percent increase in cash since the beginning of the COVID-19 pandemic, and there plenty of articles from outlets like Forbes and BankRate.com that are reporting similar numbers. Most FIs are just hoarding the cash, even though cash demand has been lower than normal after the initial spike 3 months ago when the pandemic started. Today, we want to discuss how banks and credit unions can find out their actual current cash demand and usage...

Current and Future Cash Supply Chain and Inventory Management Challenges: “Business as Usual” is Not so Usual for Armored Car Carriers

May 12, 2020 | Kelly MacConnell

In this blog series we’ve covered a lot of topics and challenges that will help banks and credit unions through the COVID-19 pandemic as it relates to their cash supply chain. This week, we want to discuss one of the critical suppliers to the cash supply chain, the armored car carrier. Every day, we are witnessing the many ongoing challenges banks and credit unions are facing, but what about your armored car carrier? How is their involvement in the cash supply chain impacting financial instituti...

Current and Future Cash Supply Chain and Inventory Management Challenges: Adjusting to the "New Normal"

May 5, 2020 | Kelly MacConnell

We know industry statistics have shown most banks and credit unions carry 20 to 30 percent excess cash on a regular basis, but since the beginning of the COVID-19 pandemic it has been reported that there is a 20 percent increase of cash in the market. Even the largest armored car carrier in the United States, Loomis, has seen their customers order 24 percent more currency in orders and vault cash in March alone. We’ve previously discussed the many reasons that can attribute to these higher level...

Current and Future Cash Supply Chain and Inventory Management Challenges: Decentralized Vs. Centralized Ordering

May 1, 2020 | Kelly MacConnell

As discussed in the previous blog, one of the main concerns that is particularly relevant during the COVID-19 pandemic for financial institutions is employees being unable to work due to illness, or branches being forced to temporarily shut their doors. These two problems lead to various challenges that banks and credit unions need to prepare for:

Current and Future Cash Supply Chain and Inventory Management Challenges: The Old Ways of Ordering and Depositing Cash are a Thing of the Past

Apr 21, 2020 | Kelly MacConnell

Since the start of the COVID-19 pandemic, banks and credit unions have been facing a lot of uncertainty and new challenges in their day-to-day operations as well as future planning. Everything from implementing new remote work policies, branches closing their doors, to branch and ATM cash inventory management. This is the beginning of a new blog series we will be doing about cash supply chain management and the challenges facing financial institutions during the COVID-19 pandemic and beyond.

Logicpath and Loomis Partner to Help Financial Institutions Adapt to Their Need for Real-time Demand Changes in the Cash Supply Chain

Apr 14, 2020 | Stephanie Jordan

Loomis, the world’s largest armored car carrier, and Logicpath have formed a strategic partnership to help financial institutions adapt to real-time cash supply chain challenges during the COVID-19 pandemic and beyond.

Branch and ATM Cash Management Challenges During COVID-19

Apr 9, 2020 | Kelly MacConnell

During this time of uncertainty, businesses of all kinds are embracing new challenges due to the COVID-19 pandemic. When there’s fear of the supply chain disrupting, consumers tend to stock up on everything from food, at-home fitness equipment, toilet paper and even cash.

Topics: Cash Management

Cash Inventory Management Tip #1 – Addressing Customer Demand

Mar 10, 2020 | Kelly MacConnell

A good inventory system is important to any business’ growth. For most industries, inventory ties up cash figuratively in products sitting on a shelf or in a warehouse. But for financial institutions, branch, ATM, vault and device cash is a financial institution’s inventory.

Topics: Branches and ATMs, Cash Management, Vault Cash

When to Implement Software Refresh Training for your Team

Nov 22, 2019 | Meghan Quinlin

Refresh training is often forgotten about, but if your software is a big part of your day-to-day operational efficiencies in your branch, it is important to implement refresh training to avoid any potential pitfalls in miscommunication of features, capabilities, and even the purpose of the software, as well as ensure the bank or credit union is getting a sufficient return on investment in time and in cost savings.

FOMC Updates

Nov 8, 2019 | Kelly MacConnell

FOMC Updates: Oct. 29-30, 2019 Last week, the Federal Open Market Committee (FOMC) met and approved the previously predicted rate cut, lowering the Fed Funds rate 25 basis points to 1.5% to 1.75%, the third cut of this year. However, officials predict rate cuts to pause the rest of 2019. “We see the current stance of policy as likely to remain appropriate as long as incoming information about the economy remains broadly consistent with our outlook,” said Jerome Powell, Chair of the Federal Rese...

Topics: Regulations, Interest Rates