Currently, there’re over 3.9 billion Bank of England notes in circulation, amounting to £71 billion pounds. To put things into perspective, that’s approximately 4,000 tonnes in weight (equivalent to 30 houses).

And that’s just Bank of England notes too. Now think about the rest of the world – the numbers are simply mind blowing.

As this huge volume of cash continues to grow and circulate in our economy, it’s essential for banks, and other establishments across the world to evaluate their cash processing and the solutions that enable their business to operate. Although the long term impact of COVID on cash usage is unclear, what is clear is that flexible solutions that can drive operational efficiencies are more important than ever.

Here, we explore what cash processing solutions are and the importance it has on the banking industry.

What are cash processing solutions?

First off, cash processing is a fundamental part of banking which includes, cash collection, counting, sorting, and ATM services.

But what are cash processing solutions exactly? Cash processing solutions are the hardware, software, and processes used to ensure efficiency and accuracy across all cash processing operations.

For instance, cash sorting machines can be integrated within banks and their cash management systems for higher levels of productivity.

Cash processing solutions for banks

From banknote packaging, to banknote destruction, sorting machines, banknote inspection, data, and software solutions, banks require a number of cash processing solutions for maximum productivity across their entire operations.

Banknote software solutions

At the most fundamental level, Software solutions help drive efficiency and provide higher transparency across the entire cash cycle for central banks. Key benefits of integrating banknote software solutions include greater management of cash balancing, seamless customer experiences, and secure management of cash inventories.

Developed by CPS, Enterprise Cash Management (ECM™ is an integrated suite of software solutions allowing banks to manage their end-to-end cash cycle. The ECM suite has been designed, and is continuously extended to provide:

  1. Total operational visibility for full control
  2. Best practice processes for increased productivity
  3. Configurable rules for enhanced flexibility

To discover more on how our software solutions benefit central banks globally, visit our ECM solution page or contact our expert team today.

Banknote packaging solutions

Banknote packaging is not only essential for effective banking, but adds security to your operation. Your choice of packaging is also vital for the protection of the banknotes, helping minimise the need for the destruction and replacement of damaged notes – a costly procedure to say the least.

At CPS, our SmartPack™ on-line packaging solution enables banks to bundle cash safely with the option to label with a time, date, barcode, QR code and any other configurable data that is required. This provides full traceability for each package. For added efficiency and security, the 7000i™ high-speed sorted can be connected to SmartPack™.

Banknote destruction

Weather damaged, counterfeit, or withdrawn from circulation, the destruction of banknotes is a major task undertaken by banks across the world.

In order to properly shred, collect and bag destructed banknotes, a banknote destruction system must be implemented and configured correctly to suit the individual needs of a bank.

Our SmartShred™ range includes destruction, conveying and collecting systems, each designed to guarantee the highest levels of operational security. With the ability to configure for different substrates and volumes, the SmartShred™ range is perfect for all banking requirements.

Cash processing solutions for banks in Europe and across the world

With over 60 years’ experience providing cash processing solutions to central banks, commercial processors and retailers across the globe, CPS have the knowledge and proven ability to deliver bespoke, data-driven solutions for your needs. To discover more on our offering, and how we can help with your cash management needs, speak to one of our experts today, we’re more than happy to help.