We have undertaken numerous strategy, research and operational design assignments for many of the world’s leading central banks and monetary authorities.

Here are some examples of projects completed.

The Reserve Bank of Fiji commissioned us to complete a study of cash handling and management practices in Fiji, a group of 333 islands and atolls of which over 100 islands are inhabited, but only four have commercial bank branch or ATM facilities.

The assignment consisted of two elements; a study of the internal cash handling operations at the Reserve Bank of Fiji’s cash operations in Suva and a series of face to face interviews with Fijian commercial sector cash handlers. At the Reserve Bank the operating practices and procedures associated with the receiving, handling, processing and issuing currency – both Fiji Dollar banknotes and coin – were closely studied. Across the commercial sector we met with senior representatives from each of the five commercial banks, Fiji Post the Fijian Postal Authority, Fiji’s principal armoured carrier company and two of Fiji’s largest foreign exchange and global remittance payment providers.

The candid and comprehensive information provided by these organisations help establish a clear picture of commercial sector cash handling activities in Fiji. We also worked with the Association of Banks in Fiji to gain their pan industry insights and comments.

A client confidential report was prepared providing deep insights into the Fijian cash handling marketplace and a series of both short term practical and longer term strategic recommendations for the Bank. These ranged from immediate assistance with the introduction of a new coin series to longer term suggestions about the implementation of changes to the established Fijian cash handling model.

On behalf of the South African Reserve Bank, we conducted a comprehensive review of the Central Bank’s cash handling operations enabling them to develop a set of business plans for the ongoing management of cash handling in South Africa.

The study called for an examination of a number of specific country issues including the rapidly changing country demographics, significant security problems, the existence of a security transport company jointly owned by the major Commercial Banks, which has created significant areas of duplication, and the need to support an affirmative action policy to assist previously disadvantaged South Africans.

The work performed involved: (1) Pre assignment preparation in identifying: (a) the existing cash handling procedures followed by the Bank, (b) an audit of the currency cash processing infrastructure and resources, and (c) data to support current and future forecast processing volumes. (2) Data analysis and pre site visit preparation. (3) Detailed on site analysis at the Bank’s Johannesburg and Pretoria cash centres (representative of the Bank’s South African wide branch network) to review existing processes and measure process productivity. (4) A series of face to face interviews with the commercial sector organisations including the principal South African commercial banks and cash logistics companies to better understand the relationships and dynamics between the Central Bank and the commercial sector. (5) Post site visit analysis and preparation of report and recommendations. (6) Presentation and discussion of recommendations and next steps.

The Central Bank used the report provided, and recommendations presented, to shape the next steps in its policy to change wholesale cash handling in South Africa.

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