Cash works but it could work even better…especially when it comes to how cash is moved, accessed and used in society.
The Koenig & Bauer Banknote Solutions Cash Innovation whitepaper takes a deeper look at why we need to change the way cash is organised and managed in society while defining the problems that need to be fixed and how to fix them. As the true ‘cost of cash’ in circulation becomes more evident and in particular the question of ‘who actually pays for cash?’ is answered, many cash community stakeholders are asking fundamental questions about cash viability and sustainability in the future.
The whitepaper examines both the banknote product and the banknote service system, demonstrating where the major cost and ecological impact of cash in circulation comes from. It explains how existing cash cycle architectures have been designed at a time when access to real time data on where cash is in society and how it actually flows from one touchpoint to another was largely absent, rendering it impossible to optimise cash management.
“Since the largest source of cost and ecological impact comes from the product service system and not the product itself, it makes sense to address this part of the banknote ecosystem in any endeavour to make cash more sustainable…and this is exactly why Koenig & Bauer Banknote Solutions are committed to developing enabling technologies in this space.” - Thomas Hendle, Head of Sales and Managing Director at Koenig & Bauer Banknote Solutions
A new family of ‘bridging technologies’ are presented that can be exploited by existing and new cash cycle actors to create new business models while at the same time realise quantum improvements in term of the ecological footprint and cost of cash in circulation. The whitepaper authors openly declare that success will depend on the cash community’s capacity to dismantle functional silos and cross community collaboration at a level never before seen and involve existing and new actors. They also point out that cash cycle transformation will require the active participation of Central Banks in changing banknote recycling regulations to allow the creation of new cash cycle models.
Readers will discover a family of technologies that enable the physical banknote product to connect with digital data ecosystems, providing an opportunity for cash cycle stakeholders and new innovators to completely reimagine and reinvent the way cash is managed in society and create more sustainable cash cycle models.
"The cash cycle of the future will be built upon data that enables the delegation of traditional functions such as banknote processing and even banknote access down to the retail/user level, with only limited support required from outside the local ecosystem. The net effect of this transition from a fragmented yet centralised cash cycle built upon proprietary private cash logistics platforms to a decentralised retail layer or community cash cycle is a more sustainable and equitable sharing of costs and roles in terms of how cash is moved, accessed and used.” - Julian Schubert, Head of Data, Vision and Authentication Solutions at Koenig & Bauer Banknote Solutions
While digital data ecosystems have considerably evolved over this time frame, two big questions have remained open; How to connect a banknote to a data ecosystem and why? The whitepaper answers these questions by demonstrating not only the technology stack involved but also the use cases, applications and benefits.
Koenig & Bauer Banknote Solutions has developed a toolbox of enabling technologies that will enable cash cycle actors and innovators to play a fundamental role in supporting cash in different yet complimentary ways:
- Cash Utility Technology
- Banknote Programmability Technology
“The future of cash will not be built upon the way we did things in the past and our new enabling technologies will open the door to game-changing, disruptive and completely new cash cycle models.…this whitepaper represents a new a starting point for the global cash community to discover how connecting enabling technologies with current and emerging requirements can radically change the way we move, access and use cash.” - Mark Stevenson, Market Development Manager at Koenig & Bauer Banknote Solutions
If you are interested in finding out more about "what" and most importantly "how" the banknote can empower new and existing cash cycle actors to drive change in how cash is organised in society why not download a copy of the Koenig & Bauer Banknote Solutions whitepaper. You will all see a lot more of Koenig & Bauer Banknote Solutions in the cash innovation space as we leverage banknote DNA to connect the physical banknote product with digital ecosystems and enable innovation and positive change in the way cash is organized and managed in society.
“Our Cash Innovation Team invites you to engage with us and explore together how new technologies can enable innovation and significant change in how cash is organised and managed. This is the moment to become part of the solution and begin a cross-community dialogue on the future of cash.” - Eric Boissonnas, CEO at Koenig & Bauer Banknote Solutions
Download here a copy of the Koenig & Bauer Banknote Solutions Cash Innovation whitepaper.