Staffing at Bank's premise (On-site sorting)
SIS-Prosegur offers currency sorting services across currency chests and bank branches of public and private sector banks by means of antecedents verified, trained, experienced, low absenteeism, low attrition rate and highly productive sorting staff, to efficient and error free cash sorting operations.
SIS-Prosegur owns vast experience and recognition on this field, offering these services across the country, and being the largest service provider of this sort of service in India.
Highlights
Currency Sorters
Antecedent verified, trained and experienced currency sorters, to guarantee high levels of integrity and low absenteeism.
Back Up Manpower
In case of absenteeism, availability of trained backup manpower.
Statutory Compliances and Beyond
Hassle free on statutory compliances (PF/ESIC/Gratuity/Mediclaim, etc) and even beyond by means of company policies to foster staff retention.
Multilocational
SPOC at national level for multilocational customers.
Processing at SIS-Prosegur premise
As an alternative to currency sorting services at currency chests and bank branches, and based on our vast and best-in-class infrastructure across the country, SIS-Prosegur carries out cash processing services at its own premises, thus, liberating resources (space, staff, utilities, cash processing equipment) at banks’ premises, by using own ones. This solution allows banks to dedicate space, assets, staff and other resources to the core banking business, trusting and leaving on SIS-Prosegur the cash related activities.
Those cash related activities include cash counting, cash sorting, cash segregation/categorisation, cash bundling and shrink wrapping. SIS-Prosegur uses the cash equipment better suits to the specific banking needs, to minimise the cost equation between staff use and cash equipment costs, by yielding net cost decrease to banks.
Highlights
Vast Own Infrastructure
SIS-Prosegur renders cash services through a network of more than 90 branches across the country.
Best-In-Class Infrastucture
Infrastructure fulfils RBI guidelines and MoH law for outsourcing of cash activities from banks. On top of that, SIS-Prosegur, and based on the global experience from Prosegur, follows best international standards when setting up a cash processing premise in terms of lay-out, processes, process flow, SW managing systems and security framework.
Best Solution in Terms of Cost and Productivity
Based on own highly productive staff, lay-out, systems and processes that assist on achieving overall efficiency and the right balance between staff cost use and cash processing equipment cost in relation to cash output, SIS-Prosegur offers a cost effective solution to banks, which is substantiated by the ample experience in terms of references.
Processes
Aligned to lay-out, error free, reliable within a secured working environment, ensuring full cash internal traceability and nil cash shortages.
Multilocational
SPOC at national level for multilocational customers.
Total Outsourcing of currency chests operations
Currency Chests in India have been classically operated by bank staff. However, and along time there have happened, as progressive outsourcing waves, different and more complex solutions by means of the natural outsourcer of banks, cash management companies, while respecting Reserve Bank of India (RBI) regulation on this matter. These solutions have been the answer to the need to decreasing banks cost, improving service and releasing related capital to be dedicated to the pure banking business.
SIS-Prosegur is the leading company in CC (Currency Chests) outsourcing in India with the participation in 42% of the outsourced currently in India. SIS-Prosegur is offering as outsourcing solutions for private and public banks in India, beyond trained staff for cash processing:
- Staff along with machinery, by releasing bank’s related capex needs. SIS-Prosegur selects the cash processing machinery better suits customer demands considering the right balance between output, flexibility, productivity and cost.
- Staff along with vehicle units for cash transport.
- Staff along with cash processing machinery and vehicle units for cash transport.
These more advanced outsourcing solutions have allowed banks:
- Reducing overall cash processing cost (approx. 70%), by replacing bank staff by outsourced staff of lower cost and higher productivity.
- Right cash processing automation introduction.
- Increasing bank’s productivity at cash processing centres (higher number of bundles processed per day).
- Capex release to core bank needs, by changing current capex model by an opex based one.
- Helping banks reduce remittance penalties for unfit bank notes and shortages (from RBI).
- Allow to release internal resources at currency chest to focus more to maintain Cash Retention Limits of linked branches.
SIS-Prosegur is ready to offer even more complex solutions, to arrive to complete outsourcing of CCs for banks in India, under a long-term agreement based on variable cost approach with a minimum volume and time commitments, like Prosegur operates today in most of the markets in the five continents for the banking industry worldwide
Highlights
Most experienced player in the market on this field
SIS-Prosegur participates in the outsourcing of 42% of currency chests are outsourced in India at the present.
With demonstrated track record of results in terms of overall cost savings
Typically, 70% overall cost reduction.
Acting like a strategic independent partner
SIS-Prosegur aim is reducing overall bank cost. Because of that and considering CC has different volumes requirement, SIS-Prosegur is not linked to any manufacturer or vendor. Our business decisions are based on the optimal process solution under an analytical approach of cash flows and service demands.
Customized Services adopted to bank needs for managing cash centers/currency chests
From supplying trained staff for cash processing, to complete outsourcing, through a range of intermediate possibilities.
