The world's leading currency officials joined us in Dubai to present their views and their nations' experiences about cash trends, usage, and future. See their 2019 presentation synopses below. We will announce 2021 programming in the coming months.
In 2018, Kyrgyzstan celebrated 25 years of its national currency. During this period, the National Bank has issued four series of the national currency. Each subsequent series of banknotes has offered enhancements in appearance, security elements, and technical specifications.
The presentation observes the main reasons and objective for the issue of the new series of the banknotes, strategic approaches of selecting security features, including an explanation of why level 1 security features are so important from a central bank’s point of view.
It is clear that banknotes will prevail in the medium term, but they have to become more efficient to be competitive compared to other payments systems. In this sense, it is vital that Central Banks use new technologies to improve the cash cycle by the optimization of banknotes’ characteristics and its performance in circulation.
Big Data is a powerful tool to gather, process, and study large volumes of data efficiently. Knowing this, Banco de México has been developing a system based around Big Data and a tool named “Gogol” to monitor the behavior of banknotes in circulation. This system exploits the data almost in real time, with the aim to get insight about a note's location, fitness, lifespan and the behavior of raw materials, security features, and trends in counterfeiting.
In the context of the issuance of its new banknotes’ series, Banco de México currently is conducting the final test of the system using a commemorative banknote issued two years ago. The presentation summarizes the achievements and challenges faced.
This presentation will provide an overview of elements of the Bank of Canada’s bank-wide enterprise data strategy in support of modern data and analytics, including an overview of our investments in Currency Analytics and the use cases that we have explored to date. Bank of Canada will provide some of the learnings to date, potential areas for future exploration, and anticipated challenges going forward.
A fragmented cash recycling landscape, combined with the demand for maximum security, automation, and cost reduction creates the need for new and innovative solutions. The public/private partnership (P3) Cash Center can bring the right answers to all of these critical specifications. In this presentation, PEC will discuss how cash recycling can become more secure and productive with minimum cost to drive an efficient cash cycle.
The currency operating model in New Zealand comprises many intertwined stakeholders running complex infrastructures across two earthquake-prone islands. The Reserve Bank of New Zealand will share its views on payments resilience, and the related role of both currency and the Central Bank.
The experiences of both the 2011 Canterbury and 2016 Kaikoura earthquakes will be referenced, along with the work undertaken to date around national currency resilience. The Bank's leading strategic currency project, the Currency Cycle Transformation Programme, which is looking at the future role of currency in New Zealand, will also be discussed.
Although data has been around for a long time, big data is a fairly new concept that has become common only over the last decade or so. Ever since then, however, it has taken the world by storm. But can it really provide additional benefits to the cash departments of central banks? And if so, does this come at a cost? This presentation will carefully weigh the pros and cons of banknote analytics.
As the industry urgently strives to find the next security feature or industrial process to reduce cost, who is standing back to ask what our industry is doing to our planet? Who is setting the standards for ethical behavior by measuring themselves against the world’s best companies?
James Hussey will share the story of how Oberthur Fiduciaire is meeting this challenge, and provide the lessons learned to help drive the industry forward in this critically important but seldom considered area of Banknote procurement and issuance.
Given the volatile global developments and uncertainties of today's world, it is essential that a country like Malaysia, in its cash management, maintain complete control to ensure business continuity in times of natural disasters and social upheavals. Hence, contingency planning is critical. Bank Negara Malaysia will share its experience in managing cash operations and management in times of recent natural disasters and political uncertainties such as the General Elections in May 2018).
Cash remains the most used means of payment in Spain, but the consolidation of the Spanish financial system has entailed the closure of bank offices. The reduction of the number of branches hampers access to cash by the population that uses no other means of payment. Banks have implemented complementary channels for cash distribution, such as off-site ATMs or mobile branches mainly in rural areas. Will these complementary sources for cash distribution be effective enough?
The Reserve Bank of Fiji is the sole issuer of banknotes and coins in Fiji. This issuance is an integral process for the Bank and links directly with the mission statement to "Develop an Internationally Reputable Financial System." The issue of banknotes and coins for a central bank does pose some challenges and these need to be managed strategically to ensure the Bank performs this function efficiently and transparently. In this presentation, the Reserve Bank of Fiji will share these challenges and action plans to address them.
In the early 2010s, the Banque de France launched an ambitious modernization plan of its cash processes, including a streamlining of its cash center network; however, this strategy did not take into account the subsequent radical changes in cash usage.
Cash remains the most frequently used payment method for proximity and low-value payments in France (ECB SUCH study, 2016), but a growing uncoupling has been observed with major European neighbors. There are several reasons for this: the French have a strong and long-lasting appetite for card payments, the take-off of contactless payments in recent years, and a national strategy that strongly favors electronic payments.
The digital transformation deeply disrupts purchase patterns and payments methods in France, which leads to a very uncertain and volatile environment (although the “less-cash trend” seems clear). How does the Banque de France address this challenge?
Central Banks have made great efforts to develop IT infrastructures capable of providing efficient and secure services to the banking sector. In fact, many of these services are supported by high levels of IT contingency schemes to guarantee that any technical disruption on a primary site will be backed up by a secondary site. However, in a major natural disaster scenario where basic utilities such as electric power, water supply, and telecommunications may face serious impact, IT contingency plans would not be enough to keep business up and running, and many governmental and private entities would likely experience significant operational disruptions that could affect their services to the general public.
One of the major concerns for Central Banks is the impact on the payments system as a consequence of the unavailability of electronic services to the general public, most likely restricting operations such as Internet payments and the use of credit and debit cards, which would turn cash into the means of payment of last resort.
This presentation looks at the Bank's general plan to activate the technological back-up services, the administration and remittance scheme of the contingent cash, and the scheme to respond to cash requests by financial entities.
It was unprecedented in the history of Thai banknotes that two new series of banknotes launched within less than twelve months: the commemorative series in remembrance of the late His Majesty King Bhumibol Adulyadej and the first circulating series in the reign of His Majesty King Maha Vajiralongkorn Bodindradebayavarangkun.
Such an extraordinary event was a big challenge for the Bank of Thailand to ensure smooth operation and transition. With prudent planning, the launch was executed with full effort and collaboration throughout the entire supply network. In this presentation, the Bank of Thailand will share the experiences and learnings in all aspects from the production until the distribution to the public.
This featured presentation will present a commercial bank's perspective on a world with less cash, the implications on the economy and what the Central Banks can do to support the currency ecosystem. We see a global trend in the innovation and adoption of new channels to pay for goods and services digitally. But, while digital payments are growing fast, so are the threats and associated risks. In a world where Electronic Money Laundering and Self-learning "imposter bots" aren’t words out of the latest sci-fi flick, financial ecosystem players will have to plan well for a future where both cash and its digital alternatives coexist safely and are able to serve the entire spectrum of customer needs.
This presentation will shed light on the relations between cash and the crime of money laundering. An overview of the current national regulations on AML with implementing EU Directives in this field will be provided, with a particular focus on the role of Banca d’Italia as an addressee of the regulations.The presentation will give highlights on the developments in AML national regulations that are underway to implement its extension to CIT companies, which are also required to be included in a specific register to be allowed to recirculate euro banknotes. We will also look at the model in place at the Currency Circulation Management Directorate to assess the exposure of each CIT to the relevant risk.
The currency industry divides banknote security features into three levels; overt, covert, and forensic. Each has a specific user, with overt features (Level 1) being for the general public; covert (Level 2) for merchants, banknote acceptors, and processing machines at retail banks; and forensic (Level 3) aimed at law enforcement and Central Banks.
One of the most challenging tasks for Central Banks, when deciding on a new banknote or series, is balancing the levels and selecting the right security features in each. This presentation will highlight the vital role that inks play in banknote security and the importance of collaboration between designers and technology providers.
The Ps mean Professionalism, Passion, and Pride, three qualities that the project team must embrace for the production of a functionally robust and aesthetic banknote design that represents your culture and citizens. An in-depth sharing on the journey from sketches to printing.