First National Bank is expanding the roll-out of its SmartBox secure cash system to meet the growing needs of the retail community to protect and control cash.
“The fact is that the criminals have targeted cash and any company that holds cash, however small, is in danger,” says FNB’s Karen Rodger. “Already the system has found uses in gaming, retailing and postal services.”
SmartBoxes are in wide service and manufacturing production has been ramped up to meet rapidly growing demand. The system is uniquely different from tamper-proof steel cash boxes in that it keeps an accurate tally of cash and eliminates the ever-present problem of discrepancies.
Developed for the retail industry
Developed specifically for the retail industry, the FNB SmartBox system has been designed to take many of the risks out of holding cash as well as transporting that cash. In the retail environment it is wheeled around the store to collect cashiers’ takings, counts the notes, issues a receipt and deposits the notes into a secure repository.
Inside the mobile unit is an electronically sealed black box that can be removed when full and replaced with an empty box. Any attempt to break into the box sets off die bombs inside that indelibly stain the notes rendering them worthless.
When removed from the mobile unit, details of the contents of the sealed box are electronically transmitted to the bank. The system was developed both for security and to eliminate discrepancies between the retailer and the bank.
Same day credit
Another benefit of the system is it offers same day credit thereby extending banking hours. This is of particular benefit over weekends and public holidays – the same times when retail business is at its best.
It is a uniquely South African product, designed and developed by FNB and is now being marketed overseas and patented in a number of countries.
“The SmartBox uses the same note counters as the bank’s cash centres so we’re highly confident in its ability to reduce discrepancies. It is also extremely secure, requiring less security arrangements, thereby reducing the cost of cash deposits to the retailer,” says Rodger.
“Criminal elements are aware of the effectiveness of the SmartBox, as there have been a number of armed robberies where the normal steel cash boxes were taken and the SmartBoxes left behind,” Rodger concludes.
For details contact Karen Rodger on cell: 082 496 3010 or Leon Esterhuizen on cell: 082 497 5097.
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