• Solution allows treasury managers to gain enterprise view of daily cash flows from all safes regardless of manufacturer or armored car operator
• Retailers with network-enabled safes can make deposits with fewer armored car pickups and receive provisional credit
• Agnostic solution allows retailers to choose the safe and transportation service that best fits their needs
Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, announced today that Security Incorporated, an independent regional armored car operator based in Northern Indiana, is making CorPoint(TM): Deposit Manager from Fiserv available to its retail customers.
CorPoint: Deposit Manager from Fiserv allows networked ”smart safes” to be installed in each retail location. Encrypted electronic deposit information is sent to the CorPoint solution, which in turn sends the information to the bank’s core banking platform, facilitating provisional credit.
Since the solution is device- and transportation- agnostic, retailers can purchase or lease safes directly from the manufacturer, selecting the device that best fits their needs. The solution also offers retailers robust reporting, dashboards, reconciliation and financial insights.
Financial institutions or armored car operators who offer CorPoint to their retail customers have the option to provide provisional credit on cash deposits, giving their customers faster access to funds.
“We chose to offer the Fiserv solution to our clients because it provides them a new payment option and an exciting alternative to national armored car operator services,” said Jane Levenhagen, president, Security Incorporated. “We recently had a client who had purchased devices only a short time ago and did not want to trade them out or make a new purchase in order to gain access to this payment service. CorPoint: Deposit Manager allows them to keep their current devices and utilize the armored courier that best meets their requirements.”
“Current regulatory changes are increasing cash transaction volumes, and retailers are being incented to offer discounts for cash payments by customers,” said Brian Jorgenson, vice president of Operations, Global Payment Solutions Cash & Logistics, Fiserv. “Recent studies indicate that retail cash volumes for small dollar amount transactions are increasing. Retailers are seeking new payment options related to cash and process methods to improve efficiency and cost savings in their cash operations. Using a solution such as CorPoint: Deposit Manager is one way to reduce some of those costs.”