Cash Visibility Is Becoming A Reality
February 1, 2023
In the last five years, Cash Visibility has gone from concept to reality. By tapping into supply chain logistics and best practices, the Federal Reserve created an approach that uses scanning technology to track cash shipments throughout the supply chain. This not only improves efficiency, but also establishes industry standards that yield benefits to all cash supply participants.
Smart Safes& Cash Recyclers Contribute to Anticipated Growth in Cash Logistics Market
January 20, 2023
Rochester began working with these types of cash management solutions nearly 15 years ago. However, within the last few years Rochester has seen the number of smart safes and recyclers in its footprint increase significantly.
Customer Close-Up: University of Nebraska Federal Credit Union
December 16, 2022
Before switching to Rochester Armored Car, the University of Nebraska Federal Credit Union experienced a variety of frustrations, complications, and disruptions with service to its ATM fleet.
Rochester Team Saddened by Death of Amarillo Employee, Dwayne Smart
November 7, 2002
It is with great sadness that we share the news of a recent loss to our Rochester Armored Car team. Dwayne Smart, a guard at our Amarillo, Texas branch, died in an accident on Thursday, November 3rd while on route. At Rochester, the safety and security of our employees is a top priority, and we are deeply saddened by this news. Our prayers and thoughts are with Dwayne’s wife, family, friends, and our Amarillo team.
Upcoming Event: Secure Cash & Transport Association Conference, October 5-7, Chicago
August, 24, 2002
As a founding member of the Secure Cash Transport Association, the Rochester team will be at this event and encourage others in the industry to attend as well. Learn more about the event today.
Recent Federal Reserve Study Reports Cash Is Still In Demand
August, 24, 2002
Despite the numerous headlines that seem to indicate cash is dead, there are still a significant number of consumers who rely on cash. This is just one of the findings from the Federal Reserve’s latest Diary of Consumer Payment Choice.
Partnering up with Morphis, Inc., Rochester Completes the Next Step on its Path to Cash Visibility
Recently Rochester successfully completed a Cash Visibility (CV) pilot that included a Rochester customer, Rochester’s fintech partner, Morphis, Inc., the Minneapolis Federal Reserve, and its CV team. During this one-month pilot, Rochester prepared deposits for its customer and used handheld scanners to create a What To Expect (WTE) file that was electronically shared with the Minneapolis Federal Reserve. This was the first CV test that involved multiple bags and multiple denominations.
Start The New Year Off Right, Implement ATM Industry Best Practices
January 12, 2021
According to a December ATM Marketplace article, already high ATM usage trends will continue through 2022. The article contributes this to the fact that ATMs continue to provide a safe, reliable, and convenient option to customers. If your financial institution is part of the ATM/ITM growth, the start of 2022 is the perfect time to reevaluate how your financial institution handles the cash preparation and deposit processing for your ATM/ITM fleet.
The Cash Visibility Initiative Impacts the Entire Cash Supply Chain: Is Your CIT Partner Ready for the Changes?
November 18, 2021
About one year ago, the Federal Reserve completed its first test of the e-Manifest. In this test, the Federal Reserve electronically accepted a deposit from a financial institution that was then delivered by a Cash-in-Transit (CIT) carrier. The success of this test led to the creation of e-Manifest Readiness Program (ERP). As part of this program, the Federal Reserve and its Cash Visibility team help others in the industry reach this step.
Customer Close-Up: GreenState Credit Union
September 9, 2021
“Rochester has been an ongoing part of our operations,” said Jennifer Grecian, Senior Accounting Specialist with GreenState Credit Union. “Anytime we add a branch or ATM, it’s so easy to get a hold of the Rochester team and add it to the services we already receive.” Today, Rochester services 24 branches and approximately 40 ATMs and 10 ITMs. Grecian said GreenState is always open to hearing about additional services that Rochester offers because she knows those services have the potential to improve operations, which then creates a better experience for credit union members.
Is Your ATM Fleet in the Right Hands?
August 9, 2021
The right CIT carrier should be able to help the FI manage cash replenishments, deposit pulls, balancing, cassette reconciliation and customized reporting. However, many FIs should consider a CIT carrier that could offer more advanced services like 1st Line Maintenance of machines, lock installations and support.
The Federal Reserve Shares the Latest on Cash
July 7, 2021
“Regardless of how the payments landscape evolves it is important to note that consumers continue to use cash, though at a lower rate, even amid a pandemic.”
Service, Solutions, And Savvy: The Three S’s of An Effective CIT Partner
July 1, 2021
Having an effective cash-in-transit (CIT) partner is a must for both financial institutions (FIs) and retailers. With the right partner, FIs and businesses can redirect employees to focus on customers and growing the business.
So how do you know you have the right partner? Look for the three S’s of an effective CIT partner: Service, Solutions, and Savvy
Customer Close-Up: Great Western Bank
May 11, 2021
The partnership between Rochester and Great Western isn’t a new one. It goes back decades and as the bank expanded its services and locations, Rochester was there to provide the services GWB needed. Today Rochester provides armored transportation and cash vault services for approximately 140 branches and more than 100 ATMs/ITMS. Amber Mayer, ATM/ITM Product Specialist with GWB, said that she and her team rely on Rochester’s knowledge of ATMs and ITMs, which is in her opinion unsurpassed.
Protect Cash, Support the Payment Choice Act
January 21, 2021
This past summer, Senators Kevin Cramer (R-ND) and Robert Menendez (D-NJ) introduced the Payment Choice Act (H.R. 2650 / S.4145). The purpose of this bill is simple – it protects cash and coin.
Adding ITMs To Your Footprint? Here’s How It Impacts Your CIT Partner
December 3, 2020
For optimal success in launching ITMs, Rochester Armored Car recommends that FIs include its CIT partner early in the conversation. This provides the CIT carrier with a chance to help design solutions and suggest additional services that complement ITMs.
Three Steps To Outsourcing Cash Vault Management
October 21, 2020
Deciding whether to outsource your cash vault management can be overwhelming, but it doesn’t have to be with the right Cash-In-Transit partner. Check out this helpful guide to get started.
Is Your CIT Ready for Your ITM Program? Three Questions to Ask
October 7, 2020
Many financial institutions are beginning the process of implementing ITMs or increasing the number of units in their markets. As FIs embark upon this complex and expensive task, how do they know their CIT is ready to accompany them? Find out by asking these three questions.
CIT Services Shape How Banks Move Forward
August 31, 2020
In addition to implementing tactics like employee health-screenings and appointment-based banking that keep employees and customers safe, banks also need to consider how, where and when to reach customers both today and post-pandemic. A strong partnership with a cash-in-transit (CIT) carrier is at the very core of a financial institution (FI) successfully navigating the now while also making long-term, post-pandemic changes.
Rochester Opens New Branch in Corpus Christi, Texas
August 27, 2020
Rochester opened the doors to a new office in Corpus Christi, Texas. This is Rochester’s 33rd armored car terminal. Operations started in spring and the branch is seeing substantial growth.
US Coin Task Force Issues a Public Statement on the Coin Circulation Issue
July 24, 2020
“Coin circulation has emerged as a new disruption caused by the COVID-19 pandemic. Many have referred to this as a shortage; however it is not. There is approximately $48 billion in coin already in circulation, most of which is sitting dormant inside America’s 128 million households. As people have changed their spending habits, and coin-intensive businesses and financial institution lobbies have been less accessible, the nation’s coin is pooling in change jars, in car cup holders and in shuttered businesses, making it difficult for the businesses of this country to get the coin that they need to support cash transactions.”
Read the complete statement here: US Coin Task Force Public Statement 07-24-2020
CITs Role in the Coin Circulation Disruption
July 10, 2020
Rochester, along with other Cash-In-Transit (CIT) carriers, has played a role in helping the Federal Reserve implement changes to improve the circulation of coin. Rochester worked to communicate possible solutions to customers that supported the Federal Reserve’s efforts and helped banks and retailers combat the circulation issue, including creating maximum order strategies for their own branches and customers as well as depositing loose coin within the branches.
The Missing Link Between Operations and Customer Service
July 6, 2020
Banks and credit unions are continuously striving to improve both of these areas. In fact, many within the industry are now using this time to reevaluate both operations and customer service and the link between the two. The tricky part is how to do both at the same time. How do banks make operations more efficient and reduce costs while simultaneously investing in key personnel to be more available to better serve customers?
The Importance of Cash (and why it’s not going away)
June 12, 2020
The notion of the United States becoming a cashless society has been a hot topic for years. It has become an even more relevant one during the pandemic. Worry over whether currency was a vehicle for transferring the virus fueled the debate.
Outsourcing cash vault management on the rise
June 3, 2020
As banks and credit unions reevaluate how to move forward, the trend of outsourcing cash vault management continues. Once the logistics of cash management is eliminated, the bank is once again able to focus on its customers.
May 27, 2020
In early May, ATM Marketplace posed a very interesting question in its blog Post Covid-19: A Wake Up Call for Financial Institutions and Credit Unions. “It’s becoming clearer that social distancing could be a matter of life and death, but how can an institution still be customer friendly while keeping staff and customers safe?”
An Agile CIT Partner Is Essential During a Crisis Like COVID-19
May 21, 2020
It’s been nearly three months since COVID-19 forced United States banks to quickly implement their business continuity plans. Almost overnight banks were forced to operate differently and to rethink how they interact with customers.