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Kelly MacConnell

Kelly MacConnell
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Smart Tips - Managing Your Cash Supply Chain and Inventory - #2 Be Aware of Trends

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Topics: Branches and ATMs, Cash Management, Vault Cash

The Cash Supply Chain Checklist - 6 Questions to Ask Your Cash Management Team

Over the last few weeks, we have discussed various current and future cash supply chain and inventory management challenges that many banks and credit unions are facing and will continue to face into the future as we adjust to the “new normal.” Here is a round up of all the topics we discussed:

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Smart Tips - Managing Your Cash Supply Chain and Inventory - #1 Addressing Customer Demand

A good inventory system is important to the growth of any business that manages a supply chain. 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. Like any other business, not enough or too much inventory can be costly to the business and inhibit growth or even day-to-day operations in their supply chain. Over the past few months finan...

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Topics: Branches and ATMs, Cash Management, Vault Cash

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

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...

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

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...

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

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...

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

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:

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

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.

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Branch and ATM Cash Management Challenges During COVID-19

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.

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Topics: Cash Management

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FOMC Updates

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...

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Topics: Regulations, Interest Rates