Taylor Price’s Post

What is Parabit's position in the cash versus digital debate? We've got the inside scoop, supported by compelling examples. Amidst the rapidly evolving digital payment landscape, we maintain a strong belief in the enduring value of cash. While digital transactions continue to surge, the tangible nature and universal accessibility of cash ensure its continued relevance in everyday commerce. Cash serves as a lifeline for individuals without access to digital banking or payment methods, particularly those residing in rural or underserved areas, or lacking access to (or knowledge of) technology and banking infrastructure. Moreover, cash transactions offer a level of privacy that digital counterparts may not afford. Many individuals opt for cash to safeguard their anonymity and steer clear of potential data breaches or surveillance linked to digital payments. Unlike digital systems prone to technological glitches or connectivity issues, cash transactions remain unaffected, providing a reliable means of conducting business, especially in areas with unreliable digital infrastructure. In times of crisis, such as natural disasters or health emergencies like pandemics, cash becomes indispensable. Its availability ensures individuals can procure essential goods and services even when digital systems falter. For many, the simplicity and tangibility of cash hold a timeless appeal, unlikely to wane as digital payments advance. According to Reuters, "JPMorgan Chase (JPM.N) said on Tuesday it was embarking on one of its most aggressive bank branch expansions in recent years, with plans to add more than 500 new U.S. locations by 2027 to broaden its footprint in areas where it is under-represented." (Source: https://lnkd.in/e5DKsDJ5.) This expansion serves as a testament to the enduring importance of cash in the financial landscape, highlighting the enduring demand for physical branches and access to cash, despite the rapid digitization of banking services. In short: The need for cash isn't going anywhere. 

I will be attending the ATM Industry Association (ATMIA) US Conference next week, so if you are attending, let's connect!   While new ATM technology has enabled FIs to offer self-service banking with Smart ATMs, ITMs, and recycling ATMs, there is still an opportunity to maximize operational efficiency. Currency handling technology is an area where replacing aging machines can help. Learn all the advantages of compact cash processing solutions from Giesecke+Devrient ✔️ Fast processing of large deposits from walk-in customers, resulting in less wait time and fewer out-of-balance issues ✔️ Night deposit bag verification, resulting in less time to reconcile each bag, fewer errors, and fewer staff requirements ✔️ Fitness sorting for ATMs and ITMs, ensuring streamlined use in other devices Dive into the details in our white paper: Efficiently Processing Cash: Smart ATMs, ITMs and Recycling ATMs #cash #efficiency #BPSC2 #ATM

Card left behind? No worries. Experience the freedom of cardless withdrawals by using Mo626ice or Mo626 Digital+ and withdraw from any NBM plc ATMs. Your money is just a few steps away. Learn how to do it here:https://bit.ly/41QgqzC #InspireGreatness

Cash is making a comeback among 18-27 year-olds, who are increasingly using it to budget and boost their sense of financial privacy. Here's an interesting article from the ATM Industry Association (ATMIA) on this topic: https://bit.ly/4eImU9x #cash #genz #customerinsights

As part of our 'Global Trends in Banking' series for #sibos2023, our latest whitepaper, written by Kaj Burchardi and Kunal Jhanji, delves into the transformative role of Distributed Ledger Technology (#DLT) in capital markets. DLT promises efficiency enhancements but requires significant capex. In the absence of secondary market infrastructure, decision makers need to make hard choices on where and how to play. Stay tuned for more insights! Read the full whitepaper now. 👇 #BCG #sibos2023 #canada #financialinstitutions #wholesalebanking

Core banking platforms have emerged as the key component of long-term transformation initiatives. Explore Celent’s in-depth report of the main core platforms in the market and what FIS® has done to lead through innovation. http://spr.ly/6047uQayZ

As everything around us becomes increasingly digitized, consumers demand safety, efficiency, and to be rewarded. FIS' 2023 Global Payments Report dives into payment trends, and provides an analysis breakdown of consumer preferences and insights on the fast-changing payments landscape, to better understand the technologies, methods, and consumer behaviors across 40 markets.  Thank you Silvia Mensdorff-Pouilly for sharing with us this interesting report. Download the report to read more: https://lnkd.in/dBQbPgiX #embeddedpayments #banking #fintech

Core banking platforms have emerged as the key component of long-term transformation initiatives. Explore Celent’s in-depth report of the main core platforms in the market and what FIS® has done to lead through innovation. http://spr.ly/6046uQ3MY

Every day, public transport systems serve countless commuters nationwide. In a bid to enhance the ease, speed, cost-effectiveness, and security of digital payment methods for transit services, a decision has been made to authorize both banks and non-bank Prepaid Payment Instrument (PPI) issuers to offer PPIs for transactions within various public transport networks. This update involves revising paragraph 10.2 of the MD-PPIs. #ppi

Core banking platforms have emerged as the key component of long-term transformation initiatives. Explore Celent’s in-depth report of the main core platforms in the market and what FIS® has done to lead through innovation. http://spr.ly/6042uLGym