Together with Carrie Wilkie from GS1 and Brand Elverston from Elverston LLC, Steve and Tom gave the conference attendees a preview of the changes coming to cash in transit in the near future. They illustrate the present state of cash in transit with a simple analogy: one can easily track a pizza order on one’s smartphone, but one still can’t track a bag full of cash traveling from a bank branch to a central vault.
Some of the innovation in the cash tracking that our company is working on, together with our industry partners, involve standardizing tracking across all parties involved (retailers, armored couriers, banks and the government), allowing for more efficient and accurate movement of cash. Additionally, CONTROLTEK is working on incorporation RFID into cash bags for even more streamlined tracking of cash.
ICCOS conference is one of the best known educational event in the Americas focusing on cash cycle and cash security. It is attended by representatives of central banks, commercial banks, cash management companies and technology partners.