As always, when there is turmoil in a market or industry, there is a heightened focus on statistics to better understand the implications of the changes and on cost efficiency in defence of the threatened products.
It was fitting, therefore, that the first morning of the conference, which took place in Paris, France, covered these topics from a variety of perspectives, following an insightful introduction to today’s challenges from Guillaume Lepecq as Conference Director.
In the first session, the Bank of France described how it is enhancing the efficiency of its cash cycle, the European Central Bank described the evolution of demand for the euro, and the Federal Reserve described its work to analyse the trends in cash usage in the US.
In the second session, De Netherlandsche Bank (DNB) gave its views on why cash is ‘down but not out’, followed by a view from Caixa Geral, one of Portugal’s largest commercial banks, on cash demand vs cash supply. The session ended with the Chief Cashier of the Bank of England providing proof of the Bank’s conviction that cash has a very significant future in payments in the UK by its investment in a new series of long lasting polymer banknotes.
In the afternoon there was a lively roundtable session on innovation coordinated by Antti Heinonen, and the eagerness of delegates to air their views on this controversial topic will almost certainly lead to more such sessions in future conferences.
In the other afternoon sessions there were successful case studies from Prosegur on white label branches, from LINK on the evolution of its ATM business, and from EURICPA on stained banknotes.
The second day provided delegates with a very wide range of topics, beginning with Kabir Sehgal, author of the best selling book ‘Coined - The Rich Life of Money and How its History has Shaped Us’ - an intriguing travel story enabled not by money but about it.
Another highlight was Graham Levinsohn, Regional CEO of G4S Europe, who presented the results of extensive research in the ‘The G4S Cash Report Europe: Modernising Cash’.
Other presentations covered particular aspects of the Norwegian, French and Dutch cash cycles, with others focussing automation and modernisation in cash supply.
The conference was attended by around 130 delegates and received very positive reviews.
The next Future of Cash conference will be held in Vienna in October 2017.
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- Opening Remarks
Guillaume Lepecq, CEO, AGIS Consulting
- The Global Strategy of the Banque de France to Enhance Efficiency in the Cash Cycle (Opening Address)
Alain Gerbier, Director of the Cash Department, Banque de France
Session One: The Evolution of Cash Demand
- The Evolution of Cash Demand
Doris Schneeberger, Head of Division Currency Management, European Central Bank (ECB)
- Are US Consumers Using Less Cash?
Joshua Opatz, Manager Currency Quality and Policy Analysis Group, Cash Product Office, Federal Reserve System
- Down by Not Out: Legal Tender and the Declining Use of Cash
Bram Scholten, Senior Advisor, De Nederlandsche Bank (DNB)
- Cash Demand vs Cash Supply
Leonor Machado, General Manager Cards, Caixa Geral de Depositos
- Introducing Polymer Banknotes
Victoria Cleland, Chief Cashier - Director of Notes, Bank of England
Session Two: Innovation Round Table
Panel discussion on how innovation can contribute to improve the efficiency of cash and identify which technologies and processes are currently on the innovation radar screen,
with Antti Heinonen, Former Director Banknotes, European Central Bank (Chair), Päivi Heikkinen, Chief Cashier, Bank of Finland, Kabir Sehgal, Author of 'Coined - the Rich Life of Money and How its History has Shaped Us', Joshua Opatz, Manager Currency Quality and Policy Analysis Group, Cash Product Office, Federal Reserve System and Christophe Caffard, Managing Director, Cashway
Session Three: New Banking Solutions
- White Label Branches
Philippe Gossart, Managing Director France, Prosegur
- The Evolution of Cash Distribution Through ATMs
Graham Mott, Head of Development and External Relations, LINK
- How Should Forensic Labs, CITS, Commercial and Central Banks Handle Stained Banknotes?
David Milner, Chairman, EURICPA; Patrice Rullier, Vice-Chairman, EURICPA (and Chairman of the European Advisory Board of ATMIA)
- 7 Things You Don't Know About Money (Keynote Speech)
Kabir Sehgal, Author of 'Coined - The Rich Life Money and How its History has Shaped Us'
Session Four: The Evolution of Cash Cycle Models
- The G4S Cash Report Europe: Modernising Cash
Graham Levinsohn, Regional CEO, G4S Europe
- The Impact of the Reduction of Commercial Banks' Footprint on the Norwegian Cash Cycle
Leif Veggum, Assistant Director, Chief Cashier’s Department., Norges Bank
- Modernising the Currency: What The Future Holds for Cash Supply Chains
David Hensley, Director, Cash Services UK
- Roadmap Towards a More Efficient Cash Cycle in France
François Coulet, Senior Advisor, French Banking Federation
- Cash and Personality Types
Sébastien Chapoulet, Business Development Marketing Manager, Glory Global Solutions
Session Five: Solutions for the Collection of Cash
- The Dutch Retailers' Views and Behaviour Towards Cash
Nicole Engel, Policy Advisor and Esther van den Kommer, Policy Advisor, De Nederlandsche Bank (DNB)
- Automation of the Cash Process in the Retail Market
Ana Rodriguez, Cash Management Process Specialist, Gunnebo
- The ATM - The Retailer's Hidden Business Ally
Ewan Ogilvie, Managing Director of Europe, YourCash Europe