Major Banks See Benefit of Sponsoring Their Own Intelligent Safe Solution

Plymouth, Michigan - 5 May 2010

On the heels of the announcement of Burroughs SmartCash Vault intelligent safe and complementary managed service, major banks such as The Huntington National Bank of Columbus Ohio are incorporating the solution into their treasury management product offering. Until recently, networked intelligent safes have been the offering of armored carriers, however now major banks want to deliver the solution to their clients directly.

Burroughs new SmartCash Vaults, when combined with a banks’ treasury management solution and an armoured carrier of the bank’s choosing, can help retail clients manage their cash. With a secure safe to ensure cash is secure, a Burroughs managed wireless network reports deposits to the safe. The bank can then offer deposit credit to the retail based on the agreement between the retailer and their bank.

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