US Bank Remote Cash Deposit is partnering with Loomis and their SafePoint product line, allowing business customers to deposit cash electronically from store locations with smart safe technology. This technology allows customers to consolidate their depository accounts with one bank, reduce the frequency of armoured pickups, make cash handling easier and reduce risks associated with collecting cash. Loomis is the fourth armoured provider to partner with US Bank’s Remote Cash Deposit service.
“We are pleased to announce our partnership with Loomis. This is another strategic step towards improving overall cash processing for US Bank customers who make frequent currency deposits,” said William Burback, vice president for US Bank global treasury management.”Remote Cash Deposit offers our customers a way to secure their cash, create a safer work environment and greatly reduce the risks associated with handling cash.”
The EU and US’ shift in accounting standards may bring balance sheet losses and increase credit risk, according to James Elder, director of risk services at Standard & Poor’s (S&P) Global.
The US dollar and debt yields falling on the North Korea missile test, treasury being a top target for cyber criminals and why treasurers aren't into real-time payments all hit the latest headlines in the world of treasury this week. Don't miss our ten top news stories from around the world.
While corporates have more choice when it comes to choosing financial services, the core relationship between banks and businesses hasn't changed, argues Michael Cummins, head of treasury solutions at Citizens Bank.
A poll by MarketInvoice also found that relatively few business leaders would consider speaking directly to a bank.