Cash is still the preferred payment method for most retail transactions worldwide. Managing that cash – collecting, counting, depositing and reconciling – remains labor- and risk-intensive for many retailers, eroding profitability and efficiency. CorPoint®: Deposit Manager from Fiserv can help.
Manually collecting and counting cash for deposit is labor-intensive, error-prone and does not provide an easy way to reconcile store deposit totals with a bank's deposit verification. Reconciliation is often performed days in arrears. This environment does little to guard
against cash shrinkage and theft. Managing these processes for multiple locations only magnifies these challenges. Today's merchants require advanced, integrated cash deposit solutions with pre-notification through the use of smart safe hardware devices to improve cash flow and reduce risk.
CorPoint: Deposit Manager is an advanced, integrated cash deposit solution that helps merchants streamline deposit handling. As retail staff deposit cash into smart safe hardware devices, Deposit Manager helps managers track the status of cash deposits and view detailed information by cashier and by denomination for each retail location. Supervisors can set up Deposit Manager to be hardware- and cash-in-transit provider-independent, enabling you to choose the vendors that best fit each business challenge.
By using Deposit Manager, merchants can deploy the same smart safe hardware devices across their enterprise, regardless of the cash-in-transit provider they use. Smart safe technology helps merchants streamline cash operations, automate cash counting, reconcile with the point-of-sale system, and balance to the cashier level. In this way, Deposit Manager provides you with assistance to improve security, increase cash availability, provide fingertip balance and reconcile reporting, and help you reduce transportation costs.
Using Deposit Manager supports your institution's ability to recapture the deposit management relationship and offer valuable, fee-based services. You can set it up to highlight revenue opportunities including fees for deposit management, provisional credit services and hardware sales. Configure Deposit Manager to work with your core banking system to provide a provisional credit file in the format you require. Offering smart safe solutions can help you differentiate your institution, increase your market share and extend your reach to merchants outside your traditional geographic footprint.
Features of CorPoint: Deposit Manager include: