IACA continues to address the challenges facing Cash Infrastructure. Through IACA’s various Members’ Discussion Meetings and Round-table Discussions in 2023, it was clear, that Cash Visibility throughout the Cash Eco-system is a continued challenge for many central banks and their cash supply chain. (“Cash Visibility” is referring to cash stakeholders having a view of where banknotes and coins are, when it moves, how it moves and/or the details of the notes/coins (value/denomination, etc) in the cash cycle.) Further, it was agreed in the discussions, that Cash Visibility requires COLLABORATION throughout the Cash Eco-system and if Cash Visibility is addressed and advanced, it could bring significant positive impact, both to the efficiency and resiliency of cash—helping to ensure its continued use and viability. So, what is stopping us from advancing Cash Visibility and Collaboration?
IACA focused on this topic of Cash Visibility & Collaboration throughout 2024. The following is all the activity and discussions that have taken place. If you missed any of these–be sure to watch the webinars or read through the notes.
Webinar on Cash Visibility & Collaboration: (Feb 2024) Hosted by Glory Ltd- Glory did an excellent job defining CV&C, explaining some of the key benefits and presenters shared their own case studies on the use of Serial Number Reading (SNR) as a tool for CV&C. If you missed this webinar—it is well worth your time to watch the recording (via the “Resources” page on our website > “Videos/Webinars”—you must be logged in to watch)
March Virtual Round-Table Discussions: We had 2 very intriguing virtual conversations about Cash Visibility on March 20—discussing some of the opportunities and challenges for Cash Visibility. We have provided links to these documents below and put them in the E-Library under “IACA Documents” if you want to refer to it later.
Session 1 – Asia https://currencyaffairs.org/wp-content/uploads/2024/04/CVC-Roundtable-Notes-Session-1-Asia.pdf
Session 2 – Americas/Africa/Europe https://currencyaffairs.org/wp-content/uploads/2024/04/CVC-Roundtable-Notes-Session-2-America.Africa.Europe.pdf
IACA In-Person Members Discussion Meeting at the Banknote Conference: We had close to 100 members and invited guests for this in-person discussion on May 13. We asked 3 questions which were discussed around the tables:
- What specific areas of the cash cycle can benefit from greater visibility of cash?
- What elements of cash visibility in these areas are most important (transportation tracking, retail data collection, note handling data sharing, transaction information, geolocation data)
- What are the issues/obstacles to increasing cash visibility in the areas discussed?
Notes from these discussions can be found on the E-Library (on our website under “Resources>E-Library>IACA Documents>Member Discussion Meetings” – you must be logged in to access)
IACA Banknote Conference (in May) Panel Discussion Recording: Richard Wall, our Chairman, led a terrific discussion during the General Sessions at the Banknote Conference on Cash Visibility & Collaboration—Key Solutions to Today’s challenges— with Pearl Kgalegi (SARB), Ben Thorpe (Glory) and Steve Son (US Federal Reserve). We encourage you to listen to this discussion which has been posted to our website under ”Resources” > “Videos/Webinar” or USE THIS LINK . You will hear great and informative insights.
Virtual Round Table Discussion–diving deeper into Cash Visibility & Collaboration (July) This was another insightful discussion! Notes from this discussion can be found in the E-Library under IACA Documents.
SEPTEMBER IN-PERSON Members Discussion Meeting @ The Global Currency Forum in Oman– Diving even deeper into our discussions about Cash Visibility & Collaboration, and based on our last virtual round-table discussions, we explored The Stakeholder Use Cases for Cash Visibility. Each stakeholder group has different needs in terms of level of data and different resources for that data. Each discussion table looked at a stakeholder group and considered their individual data needs, data pools available and overcoming the specific challenges for that stakeholder group in regards to CV.
October IACA WEBINAR – hosted by the ROYAL CANADIAN MINT- The Royal Canadian Mint shared details of their coin management system and coin structure and shared highlights from their research providing participants with insights about the importance of fostering greater collaboration across cash supply chains for greater cash visibility.
IACA REPORT ON CASH VISIBILITY & COLLABORATION – IACA will be summarizing all the discussions and information shared in a report format for the benefit of all our members and should be available early in 2025.
WHAT’S NEXT?? STAY TUNED AS WE WILL SOON ANNOUNCE OUR FOCUS TOPIC FOR 2025!!
