BankservAfrica’s ICMS automates the entire supply chain of wholesale physical cash at a national level. This improves the control of cash in circulation by banks and Central Banks and removes duplicated functions while adding efficiency to remaining functions. As a result, the cost of cash as a payment instrument is lower. This system optimises the participating banks’ cash holdings by improving the visibility of cash and enabling better usage forecasts and planning. Reducing the amount of cash held translates directly into lower costs.

The system incorporates modules addressing inventory, transactions, discrepancies, settlement and disaster recovery.

Features and advantages

• Increased accuracy in respect of currency production forecasting:
  
  Optimising the cash holdings of banks, and reducing the cash notes in circulation, thereby assisting the banks and the Central Banks with their forecasting requirements.
  
   

• Online access / bulk MIS:
  
  Improved visibility of cash holdings and knowing where it is at all times.
  
   

• Central repositioning of cash transactions and holdings:
  
  Securing the information regarding cash movements and cash inventory.
  
   

• Automated order entry:
  
  Allowing for straight-through processing (accuracy of data) and elimination of manual administration processes resulting in fewer errors in the ordering of cash.