Cash Visibility
Cash Visibility (CV) is a multi-year, multi-phase joint industry initiative aimed at bringing greater transparency and efficiency to cash supply chain logistics by developing a framework that will identify, track, and share data about cash packages as they move between cash supply chain organizations.
Using supply chain logistics standards and concepts, the Federal Reserve Banks, cash supply chain partners and GS1 US developed CV data standards (Off-site) that will incorporate the use of scanning technologies with cash shipments to enable significant improvements in cash handling. These improvements will reduce manual data entry by replacing paper-based manifests with electronic manifests.
The Current Opaque State
Today, the United States cash supply chain is a largely paper-based operation, reliant on manual data entry. It is time to bring cash supply chain logistics up to speed.
The FedCash® E-Manifest Service
The Federal Reserve’s FedCash E-Manifest ServiceFootnote 1 is a significant step in supporting the industry’s movement toward Cash Visibility as it enables financial institutions and armored carriers that work directly with the Federal Reserve to electronically process currency deposits and orders at Fed docks.
As of October 2023, the E-Manifest Service is available to all financial institution customers of the Federal Reserve Banks and their servicing armored carriers, with no fees from the Fed to use this service. Interested organizations should complete an expression of interest form to learn about the GS1 Standards and implement the E-Manifest Service.
Benefits of Cash Visibility and the E-Manifest Service include:
- Improved resiliency through greater visibility of package contents and data sharing capabilities.
- Accelerated dock exchanges with armored carriers using application programming interface (API) technology to validate data exchanges and eliminate paper-based processes.
- More efficient reconciliation by leveraging electronic data. Efficiency also improves controls and loss prevention.
- 'Going green' by reducing dependency on paper deposit tickets and manifests.
- Future automation opportunities such as expedited reporting and leveraging data for enhanced efficiencies.
Resources
- Cash Visibility Marketing sheet (PDF)
- Cash Visibility Frequently Asked Questions
- Governance of Cash Visibility Standards by the Cash Advisory Council's Cash Visibility Subcommittee (PDF)
- GS1 US Solutions for Banking and Cash-Intensive Businesses (Off-site)
- GS1 US Cash Visibility Frequently Asked Questions (Off-site)
- GS1 US Cash Visibility Brochure (PDF, Off-site)
Footnote
1 There are no fees from the Federal Reserve to use the FedCash E-Manifest Service. There may be other associated costs for the adopting organization to implement the service.