Cash Cycle Survey 2019 results
7 Layer asked central banks about their key currency related deliverables in 2019. We received completed surveys from 30 central banks across every continent detailing 137 different projects.
The survey results were provided to us on an anonymous basis. Therefore, these are the headline conclusions that we have drawn from the aggregated responses.
The key overall findings were:
- Changing cash usage is a concern for a wide range of central banks across the world, not only those countries experiencing “less cash” already.
- Better data and information is a key priority to support policy and operational decision making.
- Cash logistics (sorting, distribution etc.) is a mature activity for central banks with projects focused on delivering quality and efficiency rather than more capacity.
- Outsourcing is a growing trend with a significant focus on getting the regulations right and in place.
- It is now normal for new banknote designs to be phased in over time rather than launched simultaneously in a single new family release.
- Banknote durability is a core focus in almost all of the re-design projects. The number of countries involved in upgrades or new design releases was substantial.
- Supplier management is more talked about than done.
As usual we have donated £30 to UNICEF for each completed survey and we have provided those who took part with a comprehensive report. We conduct a central bank survey every year and hope that, if you are from a central bank, you might consider taking part in 2020!