ATM Cash Forecasting

A Cash flow Management Solution for ATMs

The Problem And The Solution

The bank has more than 2,000 automated teller machines (ATMs) worldwide, and hopes to predict the cash flow management of these ATMs through ATM cash forecasting. They chose us to develop this cutting-edge solution because we have extensive experience in developing innovative technology solutions and enterprise system expertise.According to the bank's requirements and recommendations, we have carefully designed a complex solution that outperforms other companies in market prediction solutions. The solution provides a way to solve the overall problems faced by the World Bank in ATM cash flow management and increase ATM management profits by up to 6%.

Key Features Of Our Solution

Availability

ATMs have brought about major changes in the way bank transactions are conducted every day. The availability of the correct amount of cash in each ATM is the main reason for all banks' attention. Predicting the appropriate amount (also in line with the central bank's guidelines) is critical for commercial banks that need to maintain a minimum amount of cash in ATMs to maintain customer satisfaction. Our solution helps banks effectively overcome this concern.

Optimization

This solution solves the problems of availability and optimization of ATM cash management and directly answers the optimization aspects of ATM cash flow management. We have carefully designed a complex solution whose performance is superior to other existing predictive solutions and increased ATM management profit by 6%. The system also helps banks avoid insufficient cash and excess inventory.

Automation

For commercial or corporate banking, time is of the utmost importance and value to the greatest extent. Our system effectively provides automatic analysis of past transactions in order to predict the amount required for a single ATM. The automated solution also provides notifications and timely reports to predict the trends and ways of withdrawing cash from specific ATM locations.

Customer Satisfaction

In this era, when consumers have many choices, customer retention rate is a key factor in the ultimate success of any business. Therefore, changes in cash demand and forecasts are critical for banks, especially in providing uptime services for ATMs, which may lead to ultimate customer satisfaction.

Forecasting

Banks bear a variety of expenses, including insurance and management fees for cash under the machine. Predicting cash flow through patterns/trends and real-time data can make this solution accurate and cost-effective. It is the predictor of each ATM cash outflow. It proposes a deep learning model based on LSTM for time series data.

Thanks to the efforts of Visive and our partner Fidel AI, the ATM Cash Forecasting solution enables banks to greatly improve ATM’s overall cash flow management while meeting the stringent security requirements of the industry.

Frequently Asked Questions - FAQs

What are the top ATM cash forecasting models?

Cash models are categorized on the basis of timeframes.

1. Daily Cash Forecasting

The daily cash forecasting model is for short term liquidity management. Companies use cash forecasting tools to manage day to day cash requirements

2. Weekly Cash Forecasting

It is cash forecasting model which gives a medium term view of upcoming cash positions.

3. Monthly Cash Forecasting

The monthly cash forecasting model is for long term planning purposes. It follows the budgeting processes and is a logical extension.

How can ATM cash management software help me?

A direct cash ATM management system is a revolutionary solution for banks. It completely automates the ATM cash management process, minimizing the chances of human error while optimizing the management based on optimal cash demand. Using an advanced forecast and cost optimization algorithm, the software helps banks save up to 30% on ATM operational costs. It strengthens the management of cash in an ATM. It streamlines all the processes, helping banks find out new cost saving potentials and even assists in enhancing the cash availability.

Which techniques is the ATM cash management software using?

Times Series and Neural Networks

The time series and neural networks is a cash forecasting technique which helps in reduction of financial costs. It uses the historical ATM data for effective forecasting and decision making. Time series are observations that are collected sequentially over time. The factors of consideration include the day of transaction, working day or not, month, and year. Neural networks is used in machine learning applications and time series forecasting is one of them. It is based on simple mathematical models of the brain. These two work in combination to identify the relationship between several factors of cash demand which then predicts the daily cash demand.

Exploratory Data Analysis

The Exploratory data analysis makes use of visual methods for data analysis. It summarizes the main characteristics and it shows data that showcases information that is beyond formal modeling.

Is ATM cash forecasting vulnerable of risk and loss?

If proper mediums are not used, ATM cash forecasting can be a subject human error and result in loss. With an ATM cash management software in-depth analysis of transaction history is possible. Banks can categorize terminals by seasonality and variability patterns. It helps them mitigate risk and prevent loss.