Hosted by the Central Bank of Ireland
Aimed and encouraging networking and education sharing between peer and lead by the Central Bank of Ireland, this uniquely focused session will see fellow Central Bank delegates split into round table groups to discuss in depth and share their experiences concerning a number of thought provoking questions and scenarios posed by the Central Bank of Ireland.
Delegates will discuss their challenges, analyse case studies, bring their own experience and ideas, and share their own views on the industry’s latest technologies and innovations. At the end of the Summit, findings will be presented and shared within all groups of delegates.
This is a highly participative and interactive workshop, and all will have the chance to express their views and learn from their colleagues from up to 20 Central Banks attending from around the world.
The Future of Cash and Retailing
‘The future of cash depends on consumers choosing to use it.’ Is this statement true – or does the future of cash depend more on consumer access to cash payments? If your nearest supermarket stops accepting cash as a payment method will you decide to shop elsewhere, or will you simply switch to another form of payment?
While cash remains an efficient means of payment, if access to cash payments is limited by retailers then levels of cash demand and usage will be impacted. This panel session will look at the interaction of cash, the consumer, and the retailer. We will learn of retailers’ perspectives on future transactions, the latest retailer trends concerning cash, and the disruptive technologies that are now gaining ground.
Over the last decade cash in circulation has grown steadily in the majority of markets, with a global annual growth rate of approximately 5 percent. At the same time, indications from several leading economies that overall rates of cash transactions are decreasing cannot be ignored. It is now more important than ever to modernize, innovate, and collaborate in new and visionary ways to uphold cash as a consumer choice.
In this panel, central bank representatives from cash-light as well as cash-intensive economies will examine the industry-wide implications of a future “less-cash” society and will consider the developments in non-cash payments that may precipitate this scenario. Panellists will discuss how stakeholders can best prepare and adapt to the challenges inherent to the evolving payments landscape, while also embracing new opportunities to maintain cash as a viable and efficient means of payment.
Cash 20/20: The Future of Cash, Usage and Trends
This session will focus on the destiny of cash in the near future with particular focus on usage and trends.
Five to ten years ago no one could have predicted the aggressive influx of alternative payments. However, despite the growing popularity of electronic payments cash continues to grow albeit at a slower pace. So, what can we expect in the next five years? We will hear the valuable opinions of some of the industry’s leading experts.
Cash 20/20: Cash Management, Distribution, Cost and Security
How can the industry improve in these four areas and benefit from the latest technologies and innovations? Currency handling is expensive, and cash is sometimes considered a “necessary evil” by commercial organisations. Presenters will focus their ideas on streamlining operations at the commercial and retail sections of the cash cycle to improve cost efficiency and effectiveness.
Cash 20/20: Cash Forecasting and Optimisation
What do future cash forecasting models look like? What does optimum stock mean for the bank and how does this relate to the overall cost of currency handling?
Having identified areas of cost and inefficiency in previous plenary sessions, presenters will inform on where and how to target investment into forecasting and optimisation to ensure the lowest possible cost of cash to organisations.
Cash 20/20: Planning for the Future – Cash Cycle Innovations
Presenters will examine the current and future outlook of cash models taking into account the rapid change in the payments landscape. While cash continues to grow, this growth rate is slowing – so how does the industry adapt to the new environment in the coming years? Delegates will have the opportunity to learn from different case studies and to compare their views and preparedness with consideration to future optimisation.
From its initial inception the process of designing, producing and distributing currency has a huge impact throughout the cash cycle. Decisions taken by an Issuing Authority must ensure that the public is left with access to secure currency.
In this half day session delegates will gain insight from a range of Issuing Authorities on how they implemented of their new currency series and what were the lessons learned that can be applied to future series from a design and implementation as well as industry and public engagement point of view.
In addition, leading crime authorities will provide an update on counterfeiting threats and trends ensuring Issuing Authorities have their information they need to stay several steps ahead of the criminals.