Automating Cash Management in Financial Ecosystem
Published on : Friday 14-04-2023
Banks are now using personalised robots for cash handling and cash management facilities in India, says Manish Walia.
The expanding technology is being utilised by every industry and business area. Every industry sector has gained from this quick advancement in technology. Same way, the banking industry has also benefited from artificial intelligence and cash management automation. Banks have historically depended on labour-intensive, error-prone manual operations, passing these costs through to the clients. Tech has undergone a lot of changes that have now made it possible for incumbents to enter the market and immediately undercut its much bigger, less agile competitors.
Banks are now using personalised robots for cash handling and cash management facilities in India. High-end currency sorting machines are being used to handle cash processing, while industrial robots are being used to automate and conduct repetitive, high-volume procedures. This is resulting in a currency sorting process that is totally automated, frictionless, and flexible enough to handle progressively growing volumes of currency with higher accuracy. The workforce in the cash management ecosystem is now better able to concentrate on value-added and administrative tasks. Most of those lengthy and error-prone operations are eliminated using Currency Management Automation systems. Banks can concentrate on improving their cash flow estimates now that they have more time available.
Data accessibility, data-driven decision-making, and automation are the three fundamental technologies that support this transformation in any Industry. In the same way, currency management automation solutions have enhanced the workflow and operations of the banking industry fueling more transformation than ever, resulting in business expansion.
A die hard sports enthusiast, Manish Walia heads the Industrial Automation Business Group of Delta Electronics India. Besides holding the responsibility of growing Industrial Automation Business in India since 2008, he recently has been entrusted to promote the MVD product line also in India.
Manish is responsible for aggressively developing Delta as a brand of choice amongst customers and aligning the market & technological trends with the R&D team. Manish contributed tremendous growth in the Industrial Automation business, by making it among the top tier brands across several product categories since its inception and building a strong channel network in India.
A 26 years’ veteran in the industry, Manish has worked for industry majors like Crompton Greaves, ABB and Flextronics before joining Delta in 2008. Experienced in various portfolios like Sales, Marketing and Program Management, Manish has a thorough knowledge of the industry.
