The mission of Loomis is to create the best and most efficient physical cash flow in society. Around year 2000 it could take several days for a banknote spent in a store to get back into circulation. By focusing on efficiency at all levels of cash handling we have significantlly reduced that time.
The specialist at managing cash in society
Loomis is the only international specialist in cash handling. We handle cash 24 hours a day, 365 days a year. With our unique competence and knowledge, we find the optimal management of the physical flow of cash and predict the amount of cash needed in different parts of society, for example in banks, ATMs and retail chains. On markets where Loomis operates the company plays a vital part in making the cash flow more efficient.
The illustration below demonstrates the flow of cash in society, and how Loomis ensures an efficient flow without unnecessary hold-ups and bottlenecks.
Central banks are responsible for providing a country with banknotes and coins. Loomis has established a close collaboration with central banks in the markets where we operate.
We assist banks in the process of achieving overall efficient cash management. We have more than 200 cash processing centers where we store cash, making it possible for banks to place cash orders matching their needs. The processing centers are equipped with state-of-the-art technology handling counting, authenticity controls, and quality checks on coins and banknotes.
Loomis administers vaults and cash deposits for banks. We optimize our transportation routes to aim for environmentally friendly and secure services.
Loomis is responsible for replenish ATMs, controlling the quality of bills, reconciliation of larger sums, service, accounting, and reporting to the responsible bank office. We have also developed a cash forecasting tool that predicts the amount of cash needed in various ATMs.
With an efficient flow of cash, there is always money accessible in ATMs for the public to withdraw and use.
The retail industry
Loomis ensures an efficient and secure cash flow for larger retail chains as well as smaller shops. We supply businesses with desk change and collect the daily checkouts. We have more than 200 processing centers where the collected coins and banknotes are counted and managed efficiently.
New end-to-end solutions offer a sealed system from the retailers’ cash desk to Loomis’ vaults. The system reduces the overall cost of cash management, mitigating the risks involved for employees, reducing the risk of theft, and provides online status reports. Loomis takes responsibility for the cash deposited in the unit.