With banks and retailers spending some ?50 billion each year on the handling of cash, the incentive for reducing the amount of cash in transit - one of the main sources of this cost - is powerful. However, with banks and retailers separated by a mountain of disparate processes and systems, the goal of a shorter cash cycle has yet to be realized. Startup Cashferium created a whole new process framework for the exchange of cash between retailers, banks and their ATMs. Cashferium then engaged IBM to help define and optimize these processes, and to create a secure, flexible platform for delivering - and continually adapting - its service.
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