Helping a Central Bank reduce the cost of cash management
A major economy in the Middle East uses a segregated cash management operating model: of the 11 local banks, some have their own cash centres while others partially or fully outsource their cash operations.
The country’s Central Bank wishes to establish a new multi-bank cash centre to increase the efficiency of the cash cycle and reduce the cost of cash management.
Vaultex was appointed to identify and design the optimum operating model for the new cash centre, support the supplier selection process and provide implementation support.
Information GatheringWe collected data and conducted interviews with key stakeholders and local banks to understand the key requirements.
Target Operating ModelVaultex will use the data gathered to design the optimum cash management operating model – developing a business case to validate its feasibility.
Detailed RequirementsOnce approved, Vaultex will further develop the operating model, including systems and equipment requirements, an implementation plan, site drawings and operational procedures.
Supplier SelectionVaultex will support production of the RFP documentation and evaluate responses from potential suppliers.
Implementation SupervisionVaultex will provide specialist support during the implementation phase and oversight during the fit-out of cash management systems.
Cost Savings: Reduce the cost of cash management.
Optimisation: Improve ATMs & ITMs availability
Quality Control: Improve the quality of banknotes in circulation.
Improved Accountability: Single point of contact with the regulator, CIT companies and with ATM/ITM maintenance companies.