Our Services

Our expertise across the end-to-end cash cycle has enabled us to develop and deliver bespoke solutions to Central Banks, Commercial Banks, Financial Institutions and Retailers. Depending on your specific challenges, Vaultex Consulting Services offers various levels of service - from overarching strategic advice, to operational transformation, to more tactical implementation. Every project is unique, so we’ll work with you to find the right approach to meet your objectives.

Strategic Consulting

Our comprehensive strategic consultancy service gives our clients a long-term directional view of their cash management operations and goals.

We help organisations make strategic decisions about their operations, measuring the costs of change against potential savings and increases to overall efficiency, while factoring in cash payments trends and forecasts.

Our support has enabled cash handling organisations adapt, evolve and grow. We work closely with our clients to understand their unique challenges and goals so we can develop practical solutions, models and strategies.

We combine our experience establishing, operating and developing the UK’s leading cash management company with international knowledge and consulting expertise.

Our services include:

A review of the wholesale cash supply chain

We work with our clients to review their entire end-to-end supply chain, identifying any areas of concern, along with any inefficiencies – including areas of duplication or redundancy.

Development of vision and business model

We make recommendations for alternative models based on our experience and global best practice. This work forms the basis for any future target operating model.

Appraisal of strategic options

We help clients evaluate the available options, allowing them to make an informed decision based on the costs and benefits associated with each one.

Strategic bank note management

Vaultex is the largest member of the Bank of England’s Note Circulation Scheme (NCS), which governs the distribution, processing and storage of UK banknotes. We help make sure our’ clients’ cash operation conform to the legal agreements and rules that underpin Note Held to Order schemes.

Supporting case studies:

Operational Transformation and Optimisation

We ensure that people, processes and technology are all aligned in order to drive value across the cash supply chain: from optimising Cash-In-Transit services to developing business cases for automating cash centres and back offices.

We have a proven record of undertaking current state assessments and designing best practice target operating models that address our clients’ challenges now, while planning for the future.

Our services include:

Current State / Opportunity Assessment

We engage with stakeholder to understand the specific challenges. Using detailed research, stakeholder interviews and data analysis, we can assess the efficiency and effectiveness of cash operations and prepare a range of potential recommendations and options for our clients.

Target Operating Model Design

Based on our finding during a detailed discovery phase, Vaultex uses data and experience to design the target operating model, backed-up by a feasible business case. We will consider the People, Process and Technology (systems and equipment) requirements, building in an implementation plan and procedures.

Cash Automation Business Case

We work with banks to evaluate the costs and long-term savings attached to automating processes: from partial to fully automated models. We can also support clients‘ business cases for the integration of smart till and smart safe technology – so cash can be processed in stores faster, more securely and with less expense.

CIT Optimisation

Vaultex’s Cash-in-Transit (CIT) Optimisation service is designed to reduce the time and costs associated with moving cash. By taking a holistic view of our clients’ current CIT services, we remove unnecessary collections while making sure cash is readily available for customers.

Supporting case studies:

Implementation Support

Vaultex Consulting Services has first-hand operational experience, so we know how to translate theory into efficient, robust and reliable practice. We provide expert support in implementing process improvements and new procedures, software and equipment, in addition to a range of other innovative solutions.

Our expert team provides structured project management and on-the-ground support to a range of projects – from building multi-bank cash centres to integrating new IT systems.

Our services include:

Procurement support

Vaultex works with a number of industry suppliers across the cash supply chain as both a cash processor and a managed service provider. We support the gathering, writing and hosting of cash service related Request for Proposals (RFPs), from CIT services to equipment providers. We also independently and expertly evaluate proposals from service providers to provide an unbiased assessment of each one, based on our client’s requirements.

Draft Policies and Procedures

Our experts design, implement and embed robust policies and procedures – drawing on their experience within both Vaultex’s cash sites and our clients’ organisations. Vaultex has a record of exceptional accuracy, with a consistent 99.99% service level. We also work to the rigorous, best-class standards demanded by the Bank of England’s Note Circulation Scheme.

Cash centre systems

Vaultex has invested heavily in information technology, online data management, forecasting and other operational systems to ensure we are at the cutting-edge of cash management. Our consultancy team has helped other organisations implement complex new cash management systems, providing training materials and support to ensure optimum utilisation.

Cash automation solutions

Vaultex is working with a Central Bank to help build a fully automated multi-bank cash centre. We also have experience of using automation to improve back office efficiency, helping businesses concentrate more on their customers.

Innovative solutions

We have developed a number of innovative new solutions for our customers. These include an award winning coin extraction service for The Royal Mint; a proprietary online cash management portal that provides up-to-date MI; the UK’s first white-label business bank.

Supporting case studies:

Risk, Security & Audit Consulting

It goes without saying that when it comes to cash, risk and security should be paramount. Vaultex owns and operates ten multi-bank cash centres across the UK. We combine cutting-edge security technology with efficient but robust processes to protect our people and the cash we process. We ensure these measures are integrated within our day-to-day business, so we can run our operation without unnecessary disruption.

Through Vaultex Consulting Services, we have helped organisations mitigate risk in their cash operations, undertaking risks assessments and developing and implementing world-leading risk management frameworks and processes. And we can provide regular health checks to ensure that high standards are maintained.

Our Audit and Risk team has 30 years’ experience, with specialist knowledge on the cash and financial industry. They work to Institute of Internal Auditors (IIA) standards, as well as international best practices. Our audit team members are chartered certified accountants with the Association of Chartered Certified Accountants (ACCA) body, whilst the risk team are Institute of Risk Management (IRM).  The team also has a number of ISO accreditations between then, including 9001 and 22301.

Our services include:

Risk Assessments of cash operation

Having worked with some of the leading global financial institutions, we can identify and document the risks associated with cash operations and centralised support functions. We will then evaluate the effectiveness of controls currently in place. This includes identifying any gaps and deficiencies that could result in a significant impact to the business, such as regulatory non-compliance.

Risk Management Frameworks

We can help organisations set, govern, monitor and control their level of risk to help them achieve their strategic objectives – all while meeting their regulatory responsibilities. We will implement a comprehensive ISO 31000 compliant framework aligned to Institute of Risk Management practices. This will consider all risk categories (Financial, Operational, Technology, Change, Reputational, Regulatory, Strategic, and People) and be backed-up by risk policies that help leaders make more informed decisions.

Physical Security Assessments

Vaultex employs the best-in-class CCTV, monitoring and biometric security – backed-up by a robust set of processes. We will use a combination of research, stakeholder interviews, and inspection and observation exercises to understand your operation, controls and risks. We can assess the effectiveness of security controls and physical security measures – both internal and external – and provide recommendations based on global best practice.

Audit of Cash Operations

Vaultex Consulting Services can provide an independent and objective opinion on all cash center and centralised function operations. We will assess if your cash operation is compliant to the mandated operating model, policies and standards set by the central bank – making appropriate recommendations and identifying actions where appropriate.

Business Continuity Management Systems

We can help our clients protect their cash operations through the implementation of a full Business Continuity Management System (BCMS) framework, compliant with ISO 22301. BCMS is critical to ensure operational capability is not compromised during a significant event. Our experienced risk team will identify key processes and systems through a detailed Business Impact Assessment, and support with the implementation and regular testing of plans.

Supporting case studies:

UK Cash Optimisation - Keeping Cash Efficient

Cash remains an important and widely used payment mechanism; trusted, reliable and a necessity for many consumers. For businesses looking for ways to streamline their end-to-end cash cycle, and spend more time focusing on their customers, we offer consultancy services designed to reduce the cost of cash.

We use our specialist knowledge of industry ‘best practices’, to deliver tangible efficiency savings and enhanced operational controls. From helping clients to optimise their Cash In Transit Services, to designing and implementing more efficient working practices, we help tackle our client’s challenges, whilst having a clear vision for the future.

Our Services include:

CIT Optimisation

Vaultex’s Cash in Transit (CIT) Optimisation service aims to reduce the time and costs businesses spend on moving cash. By looking at the company’s data we create bespoke optimised CIT schedules that balance the costs of holding cash versus transportation. Typically we have helped customers reduce their CIT costs by 15-20%.

We are highly confident in our ability to identify material savings for you. Therefore we offer a complimentary, no obligation assessment that will pinpoint opportunities and benefits. If we can’t identify achievable changes, then there is no charge.

Cash Management Optimisation

We have also developed a proven Cash Management Optimisation service to help businesses identify efficiencies within their end-to-end cash cycle. From handling cash at the point of sale and back-office, through to receiving credit and reconciliation, we will look for improvement opportunities that focus on viable efficiency savings and enhanced controls.

Our assessment considers the three key areas of cash management: People, Process and Technology, and can include an assessment into the feasibility for deploying cash automation devices.

CIT | Cash Management Device Procurement

The third service we are excited to offer is Cash Optimisation Device Procurement. We know that getting the right suppliers for cash management hardware and software is imperative for businesses.

We will tailor our procurement service according to the business’ specific needs, ensuring that key business objectives and requirements are fully understood from the start and ensure that clients get the right solution, with the right capabilities at the best possible price.

Supporting case studies: