Secure and efficient: Cash actors benefit from cloud solutions by ALVARA

(Leipzig, 14.05.2020) With its cloud-based solutions for cash logistics, the ALVARA Cash Management Group AG also offers a product portfolio in the corona crisis from which all process participants benefit.

“In the current pandemic situation, all cash actors, whether they are cash-in-transit companies, retailers or even credit institutions, are facing major challenges,” says Bernd Hohlfeld, member of the ALVARA Management Board. “Fortunately, many of them can manage cash processes with the help of software. Here, too, cloud solutions are proving their worth.”

For example, ALVARA enables its customers to access the functions and data of its successful ALVARA Interactive Cash Control (ALVARA ICC) solution at any time via an online platform or app. If individual service providers or locations (e.g. a cash-in-transt company = CIT) fail at short notice in times of crisis, the necessary (location/ master/contract) data can be redirected to a replacement CIT via the ALVARA ICC platform as a “data hub” after approval by the insurer. “A change of service provider is easily possible at any time with the help of our solutions,” explains Hohlfeld. “In this way, customers remain flexible and retain control of their cash logistics data at all times.”

Contact restrictions can also be better handled with ALVARA’s cloud-based solutions: One-time code generation, for example, can be used to prevent employees of the cash-in-transit company from colliding with those from the service or branch area on site. “Our solutions protect the person working at the machine because the code is provided digitally and no one else is needed to open the smart safe or cash recycler,” summarizes Hohlfeld.

The one-time code can also be provided at any time for a replacement CIT. This means that retailers can always rely on a secure backup variant or emergency solution to safeguard their cash logistics processes.

ALVARA, as the leading cash handling specialist within Europe, reacted quickly to the Corona crisis and ensured the constant operational availability of its widely used solutions. The same applies to service availability, assures Bernd Hohlfeld. “Despite all the hygiene measures in place, our customers can always rely on the technical and organizational quality of our solutions and services,” he says. “The software development and project management continue as usual”.

According to the ALVARA experts, value-added solutions for cash logistics are more important than ever, since cash will continue to play a key role in the future. The Federal Association of German Cash and Value-Added Services (Bundesvereinigung deutscher Geld- und Wertdienste – BDGW) follows this assessment. According to this, cash remains the most crisis-proof means of payment. Non-cash payment methods, on the other hand, are particularly susceptible to disruption and may even come to a complete standstill. “We fully agree with the statements of the BDWG here. Comparable to a power failure or a major hacker attack, non-cash payment transactions are exposed to considerable risks,” Hohlfeld worries. “Cash, on the other hand, always works. At the same time, privacy is protected because cash ensures our anonymity and self-determination and does not encourage data misuse”.

ALVARA therefore supports the ongoing development of solutions in the field of cash logistics in order to make the associated processes as efficient and secure as possible for all players.