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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

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

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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Cloudy with a Chance of Cash

Last week, $175,000 of cash flew out on to one of Atlanta's busiest interstates after an armored truck carrier's door opened during the middle of their transport. Crazy, right? However, this isn't the first time there's been a roadway accident involving an armored truck and the loss of thousands, and even millions of dollars. There was an incident on the New Jersey Turnpike back in 2004 where the truck flipped over and more the $2 million was lost. Another incident, just last year, resulted in t...

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Topics: Cash Management

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How the Universal Banker Model Impacts Branch Cash Management

Research estimates that more than half of banks and credit unions have adopted a universal banker model in their branches as a part of their overall branch transformation strategy. The universal banker model requires financial institutions to evaluate their approach to staffing in branches by hiring employees that are well-versed in the institution’s product and service lines, and can complete multiple tasks that were previously segregated into separate departments and employees. Universal banke...

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Topics: Cash Management

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Branch Cash Management Software + Devices = Successful Branch Transformation

When people think about branch transformation, they think of the addition of new technology, devices and universal bankers or the restructuring of the branch layout. However, there is one piece of technology that is neglected in a branch transformation strategy, or is put off until a later date: branch cash management software.

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Topics: Cash Management, Branch Transformation

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Branch Cash Management FAQ

With rates continuing to rise, financial institutions are looking for sources of idle assets. Most banks and credit unions first turn to Deposit Reclassification, which recovers low earning Fed balances by reclassifying transaction accounts into savings accounts. However, I want to talk about another source financial institutions can use to increase income: branch, ATM and vault cash inventory.

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Topics: Cash Management

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Top Five Features to Look for in Branch and ATM Cash Management Software

After the third Fed funds rate increase of the year, financial institutions should consider focusing on branch cash management initiatives that identify and minimize non-interest earning assets through optimizing cash inventory to ultimately reinvest it into lending and other investments. One of the most cost effective and efficient ways for a bank or credit union to reduce excess cash is by using a software solution. However, many institutions don’t know where to start when looking for a branch...

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Topics: Cash Management

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Four Places Your Branch May be Stockpiling Excess Cash

Whether a financial institution has 10 branches, or more than 100; they all face similar challenges when it comes to branch cash management. My colleague previously discussed that banks and credit unions shouldn’t fear running out of cash. However, there are many reasons a branch might feel the need to keep more cash-on-hand then they need, or in some cases they may not be aware of where the excess cash is.

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Topics: Cash Management

Warning poor cash management process

5 Warning Signs of Poor Branch Cash Management

Most retail operations and branch managers at banks and credit unions believe that they are doing a good job of managing cash. While they may admit to some room for improvement (nobody’s perfect, right?!), many don’t believe that tweaking their branch cash management practices would significantly improve the branch’s operations or profitability. As a result, many branches operate under the myth that they are doing a good job of managing cash. However, here are five warning signs that might revea...

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Topics: Cash Management