Perativ: Improved Cash Availability at Low Cost and Minimal Effort

A bank operating more than 10,000 ATMs was looking for an efficient cash distribution solution that could improve its customers' cash availability while keeping the Cash-in-Transit (CIT) and CIT time at a bare minimum. Innovative cash optimization solutions provider Perativ stepped in with its next-generation solution driven by artificial intelligence (AI). The company's solution paved the way for significant gains for the client as total cash float required for their ATMs reduced by 42 percent, emergency cash loads reduced by 50 percent, and workload for cash forecasting and cash compliance came down by over 70 percent. Perativ's AI-based cash monitoring and control solution was able to deliver such value because of its ability to automate cash compliance across branches and ATMs and bring new timely data together from the ATMs. "Our solution provides the next generation of cash management by optimizing a bank’s processes every single day with live actionable data," says Chris Chandler, President and CEO of Perativ. "As our solution can be implemented at any branch or ATMs, banks can ensure great customer experience and high cash availability, which continue to be the core aspect of banking experience for customers."

Today, banks are trying to find ways to reduce the cost of cash to bolster their digital payments, compliance, and information security. But they are burdened with high cash levels and CIT cost and mired in historic manual compliance processes. They need to rethink and reorganize their costly and complex cash distribution networks (ATMs, CDUs, Branch Vaults) to achieve complete visibility and control of cash distribution across all channels. Perativ's platform brings a welcome change by marrying analytics, AI, automation, and ATM/ Branch forecasting, simplifying cash distribution at the lowest cost and operational overhead.

Having been laser-focused on cash availability throughout our journey, maximizing cash availability at the lowest cost is at the heart of our business strategy

Unlike the traditional cash forecasting software, Perativ's solution automates cash compliance and integrates it with cash forecasting to allow banks complete control over the entire cash cycle. As a SaaS offering, it manages four core functions across the cash cycle, including:
Cash forecasting
Load compliance
Treasury Reconciliation
Cash orders

Improved systems and data not only aid banks in improving compliance and risk management but also separate cash control from cash handling or device service. Perativ offers its solution as a managed service offering where it handles end-to-end cash management and control processes for its clients. "We combine breakthrough cash monitoring and control systems with cash forecasting to optimize the full cash cycle and drive down the cost across the entire cash ecosystem," says Chandler.

Perativ's solution was not built by chance but after intense research for many years. The company worked on two different projects, one related to cash compliance automation and one on improved cash forecasting. Neither of these projects were delivering the hope for breakthroughs. Things started to transform once these two projects were merged. It was then that the company realized the breakthrough value of an integrated, cross-functional approach to cash optimization. Prior to this innovation, most compliance functions were manual and demanded huge resources. Perativ's innovative solution automated those functions, collapsing periodic reconciliations to near real-time data while eliminating the suspense account.

Coming from a background of deploying and operating thousands of ATMs, Perativ has an unfair advantage over its competitors in terms of the work culture it has developed over the years. "Having been laser-focused on cash availability throughout our journey, maximizing cash availability at the lowest cost is at the heart of our business strategy," ends Chandler.