Tuesday, 17 March 2020
Setting the scene for the rest of the agenda the first session of the event will focus on the trends of cash, and a little on payments. Currency Research will recap the Cash Industry in Transition report which outlines the internal industry factors and external factors which will impact the cash industry over the next decade. DNB will then present the local Dutch cash system and recent trends, with presentations contextualising this within a regional/Eurozone context, and an overall global report.
With its unique industry position Currency Research has examined the impact of external and internal forces on the companies and government departments involved with the cash cycle as a whole. The recently released report, The Cash Industry in Transition, concludes that central banks are in the difficult position of receiving criticism if they express support for cash but also criticized if they support the move away from cash. They are navigating through truly uncharted territory and must be pragmatic in planning and preparing for a less-cash future. The cash industry must also hasten its planning for a less-cash society while maintaining a robust cash industry – not an easy task.
Hear a brief overview of the report findings – and access a complimentary copy from the app for an in-depth look at where the industry has been and what could happen next.
The last decade the Netherlands has witnessed a steady decline in the use of cash in retail payments, indeed the flipside of national policies successfully targeted at fostering efficiency in payments. This development has put pressure on the cash infrastructure, which for the major part is being provided by commercial parties (banks and CITs). In order to enable citizens in continuing to make their payment choices and to provide for a realistic fall back in case of electronic payment disruptions an appropriate infrastructure is still considered necessary. DNB will outline the different policy scenarios it has been considering in taking up this challenge.
Henk Esselink will present the latest developments from the perspective of the ECB regarding the circulation and use of cash in the euro area. Having given an update on regional trends he will then address some of the initiatives that are being undertaken by the Eurosystem with the aim to keep cash available and to keep cash accepted.
Following on from the first session, if the use of cash is, or will be, decreasing then given the decentralised structure of most European countries cash systems how can we ensure to keep key commercial players involved in the market to facilitate access to cash? Several different models aimed at reducing the cost of cash already exist across Europe, and we will hear from the CEOs of companies involved in alternative - perhaps radical – systems to understand why their system was adopted, and what lessons can be applied to other countries.
- Moderated by:
- David Hensley, Director | Enryo Ltd
We look forward to welcoming a series of short presentation by our sponsors – the leading suppliers in the industry. Learn how they can assist with Access to Cash with their innovative products and solutions, which will cover all sectors of the cash system, and how they can help you to optimize and ensure your cash operations are as efficient as they can be.
- G+D Currency Technology
- Sargent & Greenleaf
- Armor Safe Technologies
- UAE Exchange
Examining the most efficient means of distributing cash around the network will help to better understand how to ensure consumers have access to cash. Distribution primarily takes place through the ATM network – but what happens with low population density areas, for example rural areas, where IADs and banks don’t see a business case to install a distribution point. Consumers who can’t access cash may well turn to alternative payment methods.
- Presented by:
- Graham Mott, Director of Strategy | LINK
The UK is undergoing a profound change in how consumers pay for goods and services. The move from cash towards other digital methods has been rapid and appears to be even accelerating. LINK provides UK consumers with universal access to cash and enables the public to access their money easily, conveniently and safely. It is not LINK’s role to defend cash against other payment methods or to drive consumers towards the digital alternatives but LINK is committed to promoting financial inclusion, and protecting free access to cash and therefore has developed a series of financial inclusion programmes to protect cash access across the whole of the UK. This presentation will therefore outline the changes in ATM an cash usage and LINK’s programmes to protect consumers access to it.
Wednesday, 18 March 2020
The media are increasingly highlighting the issue of cash acceptability by retails in developed economies and the debate around acceptability of cash has never been more prominent in the minds of the public. Several countries, or US states, have legislated that cash cannot be refused to settle a transaction, but not all jurisdictions agree. We look forward to hearing to hearing the discussion for an against the right to be able to use cash with example from both within and outside of Europe.
The Central Bank of Hungary has recently published a smartphone application that is capable of authenticating Hungarian Forint banknotes with very high reliability. An important effect of the publicly available app is to increase confidence from users of cash by providing a free and easy method of authentication. To make the application more appealing to the public, it also includes augmented reality experiences in connection with the theme of each banknote. The software analyses line structure of the banknote by using the camera of the smartphone and has no special hardware requirements. This presentation covers the development process and highlights the main features and benefits of the app.
We look forward to welcoming a series of short presentation by our sponsors – the leading suppliers in the industry. Learn how they can assist with Access to Cash with their innovative products and solutions, which will cover all sectors of the cash system, and how they can help you to be more efficient in your cash operations.
- Orell Füssli Security Printing
To ensure the future of cash it is clear a number of countries need to change the way they do things. Otherwise if cash becomes inefficient and costly by comparison to other transaction methods it will have a limited future. In this session we will hear from those who have undertaken steps to try and understand the state of play now and implementing changes to try and futureproof their cash cycle.
- Presented by:
- Presented by TBC | Central Bank of Egypt
With a steady growth in population it became clear that Egypt’s aging cash infrastructure required rethinking to be ready for the future. A key factor in futureproofing Egypts cash cycle was upgrading and interconnecting current infrastructure. Working with a key partner, Central Bank of Egypt planned and are building a new printworks and central cash center, creating the base for Egypts new cash structure. The existing central cash center will be optimized with new equipment implemented and new regional cash centers will be launched to cover the country. Coupled with training and a cultural transformation, this mega project will see the new facilities completed and operational by end of 2020 with the latest technologies and smart automation, which will enhance theefficiency and security of the cash cycle processes.
Even though the physical Euro has been in use for nearly two decades there are still significant differences in the ways cash circulates and recirculates between Euro countries. Common to all countries however are the efforts to reduce to shorten/optimize ad cash cycle and introduce automation where possible. Whilst EPC welcomes the initiatives of the ECB to facilitate the recirculation of banknotes, it notes that policies by individual national central banks can hinder recirculation. These should be identified and avoided –and where possible the ECB and national central banks must consider whether current operations reserved to the central bank only could in fact be the extended to local CIT or other commercial actors under supervision. This presentation will focus on4 key areas: The cash cycle –possibilities to optimise via local recirculation? The European landscape –a multifaceted picture; Examples of local best pest practice and What could stakeholders in society do to foster recirculation?
Production and distribution throughout the commercial network of banknotes and coins all have an environmental impact….distribution in particular. A lot of work is currently taking place to improve the environmental impact of cash at each sector, and we look forward to hearing what options are available to those purchasing and using cash to help them reach their Corporate Social Responsibility goals, whether it be improving currency production or optimizing CIT and ATM operations.
- Presented by:
- Megan Gull, Global Head of Cash and Cheques | HSBC
In today’s world sustainability is an increasingly important topic for us as we face into the challenge of maintaining a infrastructure that reduces the impact on the environment, whilst continuing to enable access to cash for our customers in a way that makes economic sense for the business. We are addressing this by looking at how we can run a more efficient operation, promote alternatives and use our waste products differently creating a more sustainable model for the future of cash management.
Cash is an inherently sustainable payment form. A note can be retained as a store of value and exchanged continually while in circulation, only being removed when it is finally deemed unfit. But with an ever-increasing focus on the impact of modern life on the planet, do we need to consider the environmental cost of the cash supply chain? Should cash be moved less regularly through local recycling and can technology be leveraged to minimise reliance on single use plastics for packaging? Does the heightened security risk make cash exempt from these considerations anyway, particularly when cash use is reducing in some jurisdictions?
- Moderated by:
- Mark Loveridge, Head of UK Currency | The Royal Mint
- Emmanuelle Politronacci-Stephanopoli, Head of Statistics, Research and Forecast Unit, Cash Department | Banque de France
- Mario Pisani, Deputy Director, Debt and Reserves Management | HM Treasury
- Marco Rummer, Regional Vice President Europe & Latin America, G+D Currency Technology