Currency Vault Management

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.

Our software 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. Our software 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. Our software 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.

Our software 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.

Shipments of foreign currency by courier can be tracked and processed as well.

The software also provides the functionality of counter window teller processing through our Teller application, including receiving mutilated notes over the counter and issuance of currency over the counter. Full Till management is included.

Our software 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.

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.

Our software can be used for initiating audit checking of the contents of the vault or of the tills. The full audit results are saved.

The MIMICS Cash Order software application provides a web portal front-end for customers to enter their cash order request. The in-house component of the application then receives the requests, and if approved handles the processing of the order, with safeguards and audit logging at each step.

Related Software

This Application Integrates with:

• Currency Management
• CRM software
• Email Options

MIMICS provides a web portal that will allow your customers to log on securely to place cash order requests. The web portal will be customized to the look of your current website, so that it is as seamless a transition between the two as possible.

The MIMICS Cash Order software application will then allow you to process all requests. All requests can be approved or rejected. The application will check any configured limits on requests. The application will check cut-off times. All processing is dual-entry four-eye principal.

Our software application will consolidate all quantities from all approved, selected cash order requests, and will provide your employees with a vault pull-sheet. The application will require that two different employees verify that the correct quantities of each denomination have been pulled for each denomination.

Our software application will instruct your employees how to package up each order for delivery to the armored car companies. As with the other steps, the application will require that two different employees verify that the packaging has been done correctly.

Our software application will produce Shipment Manifests to provide to the various armored car companies along with all of the packages to deliver, based on which armored car company the customer selects.

The application will instruct your employees which packages to release to each armored car company. The application will require that two different employees verify that the release has been done correctly, and that the armored car company signed for the packages.

The application can then automatically produce a debit for each of the customer’s accounts for the order values. These debits can be exported to your core processing system via an ACH file or through a custom interface. This would avoid you having to produce manual debit tickets. Other accounting rules can be set up as required.

The application can then automatically email your customers that the order has been released to their selected Armored Car Company and is en route.