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

Published: 15 May 2017 y., Monday

Penkių kontinentų bankinės technologijos (BS/2) company 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 such facility accessible to customers. In order to solve certain data collection and processing tasks, most banks implement various systems; as a result, ATMs (automated teller machines), payment terminals / kiosks, ATSs (automated teller safes) and other devices may simply 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 receipt of data for each point separately. Nevertheless, there remains the question of alternatives to the choice of the channel to obtain all the necessary data as well as to unify different systems.

Let us consider a concrete case: there is 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 special Cash Management.iQ channels. Furthermore, the bank launches a project with the aim to make various payments possible through self-service payment terminals. As a result, the bank receives an additional self-service terminal network which is connected to a 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 not only in ATMs and branches, but also in 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 data from the end device 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 as well as costs of supporting each individual solution. Besides, it should strive to ensure each cash collection / withdrawal point profitability.

Šaltinis: Penki.lt
Copying, publishing, announcing any information from the penki.lt portal without written permission of penki.lt editorial office is prohibited.

Facebook Comments

New comment

     

 


Captcha
 

Associated articles

Related videos

05/02/2014

Padėkime augti

BS/2 Partnering with Symphony EYC Retail Solutions Developer

The Symphony EYC managers visited the Penki kontinentai group of companies in Vilnius recently. more »

The Improved SmartSafe.iQ: Expanded Functionality, a New User Interface

In order to optimize the work of cashiers, the system was equipped with a special module that allows to automate the currency exchange. more »

Georgian Liberty Bank Interested in Lithuanian Banking Solutions

In early July, representatives of Georgian Liberty Bank visited the Penki kontinentai group of companies. more »

Skynet First in Lithuania Tested 10 Gbps Broadband Internet Connection

The Lithuanian fiber-optic broadband Internet services provider Skynet, which is owned by Penki kontinentai group of companies, has successfully tested the 10 Gbps broadband speed. more »

Lithuanian Government Institutions Rely on Penki Kontinentai Expertise

The Penki kontinentai group of companies competence was recently evaluated by the Lithuanian official institutions. more »

Representatives of Penki Kontinentai Took Part in the Honorary Consulate of the Republic of Kazakhstan in Vilnius Opening Ceremony

The Penki Kontinentai group of companies Board Chairman and CEO Idrakas Dadašovas and PR Manager Germanas Kavalskis took part in the opening ceremony of the Honorary Consulate of the Republic of Kazakhstan in Vilnius this June 12. more »

More options for card payment

The Lithuanian ASHBURN International company has installed EFT POS terminals in the post offices in the country's largest cities and district centers, with which residents can pay for services using not only conventional, but also contactless payment cards more »

Banking and Retail Synergy in Focus

BS/2 was awarded the prestigious Special Achievement Banking 2017 prize for the innovative technological solution introduced in Azerbaijan. more »

International Recognition for the Innovative BS/2 Technological Solution

During the recent annual partners‘ meeting of Diebold Nixdorf, the world's largest manufacturer of banking equipment, BS/2, which is a member of the Penki Kontinentai group, was awarded the prestigious „Special Achievement Banking 2017“ prize for its innovative technological solution implemented in Azerbaijan. more »

Penki Kontinentai and Diebold Nixdorf Continue To Strengthen Business Ties

The representatives of the world‘s leading banking and retail hardware producer Diebold Nixdorf visited Lithuanian Penki Kontinentai group of information technologies companies. more »