Cash Processing.iQ Module Successfully Implemented in Azerbaijani Banks

In June 2024, BS/2 updated its Cash Management.iQ software solution, designed to automate cash logistics in banks, with the new Cash Processing.iQ Module. This module synchronizes the operation of counting and sorting equipment, gathers counting statistics, and enables analysis and planning of cash handling volumes.

Cash Processing.iQ was initially developed to support cash processing in central banks, mints, cash processing centers, and cash-in-transit services. It records processed banknote parameters — such as time, source, operators, and banknote condition — in the database to ensure full transparency in cash logistics.

Just four months after its launch, this new functionality, along with the previously implemented Vault.iQ solution, has been successfully deployed at two of Azerbaijan’s largest banks — ABB Bank and Kapital Bank. These solutions not only automate the sorting and counting of cash for bank operations but also support operator banks in fulfilling delegated functions.

To improve efficiency in national cash circulation, the Central Bank of Azerbaijan has delegated certain processes to operator banks. As operators, ABB Bank and Kapital Bank manage the recirculation of the national currency by collecting cash from other banks and the national postal operator, processing it, and ensuring accurate accounting. Thanks to high-performance sorting equipment and efficient systems, these two banks were selected as operators.

Vusal Aliyev, Head of Cash and ATM Management at Kapital Bank:

The Cash Processing Module provides reports reflecting volumes of both fit and worn cash. It also monitors the technical status of sorting equipment, allowing for timely maintenance.

An operator bank must possess industrial-grade cash sorting equipment, a robust security system, and an efficient, transparent system for automating cash sorting and counting. Cash Management.iQ’s Cash Processing Module, implemented at ABB Bank and Kapital Bank, fulfills this role. In addition to cash logistics management automation, the software enables the Central Bank to monitor the banknote processing workflow and automates the preparation of summary reports for regulatory compliance.

Previously, reports for the Central Bank of Azerbaijan were prepared manually, requiring significant time and employee resources. With Cash Processing.iQ, reports are now generated and submitted automatically.

Kirill Degtyarenko, Head of Cash Management.iQ Product:

The operator bank implementation project is the best proof of Cash Management.iQ’s effectiveness, as regulatory requirements mandate storing data on processed banknotes, including condition and reasons for rejecting worn notes. Each operator bank now processes around 800,000 banknotes daily, placing high demands on server capacity to store and retrieve billions of records.

BS/2 continues to develop products toward a unified ecosystem. Future integration of Cash Processing.iQ data into other Cash Management.iQ modules will make it possible to track banknotes loaded into and withdrawn from ATMs.

The implementation of Cash Processing.iQ started with integrating the module with industrial-grade banknote sorters in both operator banks. The cash processing centers of ABB Bank and Kapital Bank are equipped with 25 G+D BPS-Series and Kissan K6 machines, configured to capture detailed counting statistics. Based on this data, detailed analytics on processed cash are generated, broken down by quantity, denomination, and quality of banknotes, classified as fit or unfit.

In September 2024, the cash processing centers at ABB Bank and Kapital Bank underwent an official inspection of the Cash Processing.iQ module. After test counts and data verification, representatives from the Central Bank of Azerbaijan officially approved Cash Management.iQ for automating the banknote processing workflow in operator banks.

Cash Processing.iQ is a unique solution for supporting banknote and coin processing in cash-handling services. The software solutions in this module enable banks, treasuries, central banks, and cash handling services worldwide to automate and scale cash handling processes efficiently. For more details, visit the product page or CashManagement.iQ website.