Solutions for Banking and Cash-Intensive Businesses

Using GS1 Standards to bring greater transparency and efficiency to cash logistics

Banking industry icon

The exchange of cash is vital to business, and yet a package sent to your home is moved and tracked with more sophistication. Just as consumers know where a package is in transit at any given time, your organization should be able to say the same about its money. GS1 US® is working with cash industry partners to bring greater transparency and efficiency to today’s cash logistics.

Together with the financial services community, GS1 US is working to develop and adopt data standards and best practices for cash logistics affecting intensive cash users and businesses. Through this effort, a new level of cash visibility will enable:

  • Improved data accuracy with reduced manual data entry
  • Faster resolution of discrepancies between origin and destination
  • Value-added information on status and value of cash in transit across a merchant’s footprint
  • Potential real-time access to cash parcel movement status
  • Automated custody vs. manual paper-based
In limited proof-of-concept testing with major armored carriers, our cash visibility efforts produced a reduction of one-half to two-thirds in dock time.

 

Future Cash Cycle Management Process

Coverage of GS1 Standards
Through shared cash visibility standards, partners can easily communicate their deposits or cash transit status throughout the cycle. Being able to “see it through” allows better oversight and security, as well as improved financial planning through efficient, reliable control environments at each point of the supply chain.

Cash Visibility Infographic 1Cash Visibility Infographic 2

What our partners are saying

"The Federal Reserve has long been a proponent of financial industry standards that promote efficiency, stability, and resilience in payments. We look forward to partnering with the cash industry on this Cash Visibility Initiative." - Mark Gould, First Vice President and Chief Operating Officer, Federal Reserve Bank of San Francisco, and Product Director, Federal Reserve System Cash Product Office

“Dunbar Armored, Inc. is partnering with GS1 US and others to share information between merchants, carriers, banks, and the Federal Reserve. By sharing data and establishing standards within the Cash Supply Chain, Dunbar is doing their part to improve the visibility of cash moving through the entire supply chain and also helps with analytics, planning, and processing." - Dunbar Armored, Inc.

U.S. Implementation Guide for Cash Visibility

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Executive Leadership Committee

Federal Reserve System
Barbara Bennett | Federal Reserve System Cash Product Office 

Financial Institutions
Jim Roemer | U.S. Bank
Michael Scarlett | Wells Fargo

Armored Carriers
Donna Becraft | Dunbar Armored
Darren Langton | Loomis

Retailers
Claudette Vogelsang | Knott’s Berry Farm
Jim Schenk | Macy’s

Solution Providers
Louis Layton | Fiserv
Doug Wielard | Glory Global Solutions

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