With the release of the new $100 in October, the Reserve Bank of Australia has now completed its program to upgrade the security of Australia’s banknotes for the first time in 25 years. Close engagement with banknote equipment manufacturers, retail organisations, financial institutions, the vision-impaired community and the public more generally, was critical to the success of the banknote upgrade program. In this presentation we will review the demand for cash during the COVID pandemic, consider the outcomes of the banknote upgrade program and discuss the RBA’s engagement with the cash industry on supporting the provision of cash services to the Australian community.
As consumers and businesses change the way they use cash, together with ATM operators reducing their footprints, the risk of growth in vulnerable people being financially excluded and towns being under financial services strain is becoming a very real risk. This presentation will unpack these risks, and present a number of solutions that Prosegur is bringing to market to protect vulnerable people, keep regional towns viable, and to give payments choice to every Australian.
Following extensive research and engagement over the past 2-3 years through its Future of Cash programme, RBNZ is taking on a stewardship role for the cash system, seeking to preserve the benefits cash provides, making changes to the wholesale cash system, and building policy capability to tackle wider money policy questions, including any potential role for a CBDC.
The presentation will look at the ever evolving threats from physical attack that will face the Next Gen ATMs in Asia and how innovation in Intelligent Banknote Neutralization Systems, IBNS, will satisfactorily address these risks going forward”.