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Complex solutions for data collection and processing in cash flow management systems

Penkių kontinentų bankinės technologijos (BS/2) has integrated its specialized Cash Management.iQ, and Payments.iQ software solutions aiming to facilitate cash processing by banks and other financial / credit institutions that use various payment systems.

By connecting new cash collection/withdrawal points, any bank assumes responsibility for making each facility accessible to customers. Most banks implement various systems to solve particular data collection and processing tasks; thus, ATMs (automated teller machines), payment terminals/kiosks, ATSs (automated teller safes), and other devices may not have a common communication channel.

Systems like Cash Management.iQ allow banks to centrally monitor the entire network of cash collection points, including regular and timely data receipt for each attribute separately. Nevertheless, there remains the question of alternatives to the channel’s choice to obtain all the necessary data and unify different systems.

Let us consider a concrete case: a bank, with its own ATMs and branches network, and the cash turnover is controlled by the previously installed Cash Management.iQ system. The bank collects all the necessary data through superior Cash Management.iQ channels. Furthermore, the bank launches a project to make various payments possible through self-service payment terminals. As a result, the bank receives an additional self-service terminal network connected to separate Payments.iQ specialized payment processing system. The bank’s collection service performs encashment of all cash collection/withdrawal points. Thanks to Cash Management.iQ, the bank’s staff monitors and controls cash in ATMs and branches and self-service terminals/kiosks.

The bank might consider the following technological alternatives as a channel to obtain the necessary data on self-service terminals/kiosks for the Cash Management.iQ system:

Alternative 1. The end device’s data is received through the installation of Cash Management.iQ specialized data collection system into self-service terminals/kiosks.

Alternative 2. The data comes from external systems, already connected to the devices, by organizing the necessary interaction (integration) between payment processing systems and the cash management system.

When evaluating and selecting a particular technological scheme, the bank should consider integration works timing and costs and costs of supporting each solution. Besides, it should strive to ensure each cash collection/withdrawal point profitability.

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