You May Also Be Interested In These Products:
- Currency Management Web Interface
- Numismatic Management
- Portfolio Management
- Teller (description coming soon)
- Web Interfaces for Central Banks
|10701 Lomas NE|
|Suite 218||505-332-9220 (voice)|
|Albuquerque, NM 87112||505-332-3148 (fax)|
MIMICS Currency Management System provides all the functionality needed by a central bank to manage the flow of currency into and out of circulation. It tracks the full vault management of out-of-circulation currency, both notes and coins, tracks the full counting and sorting of the currency, and provides full verification and full audit trails of all activity entered in the system.
One method in which currency is taken out of circulation by the commercial banks is through cash deposits at the central bank. The full process is tracked: starting from the point when the commercial bank notifies the central bank of the upcoming currency deposit, to tracking the armored car shipments, and finally to the placement of the currency into the vault in advance of counting. All steps along the way have full dual (or more)-control verification and full audit tracking.
The system will track the full process of removing specific sets of currency from the vault to be sent to the counting room. It will track which sets of currency are assigned to which depositing bank, the date it was deposited, and what the estimated amounts are. It will track the movement of the currency through the vault to the counting room. It will track the results of the counting machine processing, including the quantity of valid currency, the quantity of currency that is fit to be sent back to the vault for reissue, the value of the currency that is unfit and to be destroyed, the counterfeits, and the mis-categorized currency. It can also interface with payment processing systems, such as RTGS, for credit to the depositors’ accounts. The system can interface with counting machines. It will track the process of returning the fit currency to the vault.
One method in which currency is sent to circulation is through the commercial bank’s request for currency withdrawals of notes or coins for such uses as stocking ATMs or cash drawers. The system will track the process beginning from the commercial bank’s request for currency, the identification of which currency to select from the appropriate location in the vault, the instructions for packaging of the currency, and finally the instructions of which packages to load on which armored cars. All steps along the way have full dual (or more)-control verification and full audit tracking.
The system tracks all activity that occurs inside the vault. This includes new orders of currency from minters/printers and the receipt of the orders, or any movement of currency in the vault. Crated boxes and loose notes are tracked.
Verification Control and Auditing
All activity in the system has full dual (or more)-control verification and full audit tracking. The number of levels of verification required for each step is configurable. Any activity entered in the system will save an audit recording the user, computer, and time-stamp of that activity. Queues of activity are managed for items awaiting the next step of the process, and these queues can be easily viewed.
Shipments of foreign currency by courier can be tracked and processed as well.
The system has full tracking required for Numismatic operations. This involves saving the full vault information of the inventory of collectable items, the request and transfer or sale of those items.
The system also provides the functionality of counter window teller processing, including receiving mutilated notes over the counter and issuance of currency over the counter. Full Till management is included.
The system can be used for initiating audit checking of the contents of the vault or of the tills. The full audit results are saved.
A full suite of reports is provided with the system. We can work closely with you to create and customize reports that fit your specific needs.
If you would like more information about our products and services, please fill out our online request form.