Innovating Cash Management
NatWest has launched Intelligent Safe, a solution for same-day crediting of cash transactions without visiting a bank branch that has been developed with G4S.
Businesses using Intelligent Safe will be able to deposit cash into the safe which uses advanced note verification scanning to spot forged or invalid notes before they are added to the device for collection. It also allows businesses to hold their cash securely onsite, reduces losses due to administrative errors and fraud, and enables consolidated reporting of takings at the end of day for businesses with multiple outlets.
Cash deposits are credited the same day and held securely until the device triggers a collection from Cash-in-Transit provider, G4S, which is supplying the integrated solution - including equipment, software and services, to participating businesses.
Paul Thwaite, CEO, Commercial and Private Banking at NatWest, says:
"We’re committed to using technology to find innovative ways to improve efficiency and enhance our customers’ experience. Intelligent Safe is an efficient, secure and cost effective way for cash reliant businesses to have quick access to that day’s takings, without making a trip to their local branch, thus improving cash flow and allowing them to spend more time on running their business."
Paul Van Der Knaap, Strategy & Business Development Director for G4S Global Cash Solutions, adds:
"The payments landscape is changing and cash remains vital because choice of payment is important for UK consumers. G4S continues to invest in cash technology and to work with customers and financial institutions to improve the efficiency and ease of using cash, and we are delighted to be partnering with NatWest to offer UK businesses our truly innovative cash technology solution."