Safe Transport of Money

Otokod Teknoloji, which manages the logistics of cash, foreign currency, gold, jewelery and valuable documents with the 'ManageCash' software, opens up to the world after Turkey and Saudi Arabia. Otokod in February 2020 Preparing for the US launch of ManageCash at the ATMIA conference in Houston.
The domestic software 'ManageCash' is unrivaled, providing services to banks, exchange offices, the jewelery industry, companies that carry money to ATMs, and institutions that send valuable papers. Otokod technology company developed the software system ManageCash, Turkey's and the region's largest cash transport and security services provider Bantas A.Ş. uses. ManageCash; digital, traceable, secure, end-to-end solution, profitability and A software solution that increases productivity. Otokod, which carries out its R&D studies in Teknopark Istanbul, decided to export ManageCash to the USA after its success in Turkey and Saudi Arabia. Questions of Istanbul Ticaret Mehmet Kavi, M.Sc., Electronics and Communications Engineer, one of the founders of Otokod, answered.


How was ManageCash born? When we started working with Bantas in 2011, we entered the sector of safe transportation of cash and valuables. Bantaş is subject to the Law No. 5188 on Private Security Services. What Bantas wanted from us when it was established; from banks to ATMs We built end-to-end logistics software that covers the security, counting, loading of money and detecting and fixing ATM malfunctions. Technopark with the aim of developing a global product by turning this into an R&D project. We moved to Istanbul. We also received a patent called 'MobilKasa'. We achieved our goal in 2019 and thus the ManageCash cash logistics management system was born.


What does the ManageCash software do? It instantly monitors the whereabouts of the money transferred to ATMs. It reports the repair needs and outside interventions in ATMs. Transport and monitoring of gold, foreign currency, valuables, jewellery, valuable papers is performing. It performs the processing, transportation and ATM electronic lock integrations of financial institutions' products with chain stores. Digitizing the money exchange transactions of banks with the Central Bank, mobile With the application, it gives instant answers to 5N1K questions.


Our customer carries out more than 10 thousand transactions per day with 500 armored vehicles and a staff of 1200 people. ATMs are constantly monitored by banks. In withdrawals, the center sees every move when the money runs out. money in centers getting ready, the money is loaded on tapes, armored vehicles take to the field.


What are the advantages? Cash logistics is basically not much different from courier transportation, but things get serious when the money is transported. Since the system monitors the transferred values ​​instantly, it is possible to immediately intervene in a malicious attempt. transported money or values ​​are insured against any risk. With the automation of transactions, risks are prevented by monitoring insurance limits instantly, providing savings of up to 35 percent with traceability. It provides It also prevents unnecessary overtime with its processing speed. Since it can be integrated into hardware, it reduces the operational expenses of banks and makes them competitive.


How is your competition with imported systems? We replaced imported counterparts with ManageCash; because we are superior in price and performance. The software technology we use is very modern, especially our mobile application is flexible enough to be used even on an ordinary Android phone. The most important of our advantages over foreign products is that critical information is kept in our customer's own data centers. Foreign companies control the data from outside, even if they are in their own cloud systems or servers are at the customer. they do. As Otokod, we do not want and do not want to see cash movements in terms of information security.


Do you export? After making our first sale to Saudi Arabia, we decided to expand into new markets. We conducted market research in the USA, where we went with the INNOGATE acceleration program this year. They are far behind in ATM technology compared to Turkey. for example they still cannot deposit money at many ATMs; Even the chip credit card era has just begun. We will be launching ManageCash in the USA at the ATMIA (ATM Industry Association) conference in Houston in February 2020. 11,000 local banks and 445 There are thousands of ATMs. That's why we specifically target small banks and small companies that operate ATMs.

Do you have a chance in the USA? In the USA, banks do not do this job themselves, they use outsourcing. There are big players in this industry, their services are very expensive and the technology they use is outdated. For this reason, we consider ourselves very lucky in the US market. Cloudy With the advantage of the environment, we are in a position to set up the customer in one day and put them into operation over their existing Android phones.


Mehmet Kavi stated that they developed an integrated solution with the Central Bank's (MB) Cash Management System (NYS) and explained the process as follows: We are also developing a solution for the startup Decentralized Cash Management (MONY). Now, with the MONY Automation system, instead of keeping the money, MB started to keep a safe in the bank for itself, we will automate it.”


Stating that many banks in Turkey do their cash logistics manually, without automation, with their own armored vehicles, Kavi continued his words as follows: “We are also making an effort to introduce our completely domestic and national ManageCash system to our banks at home. We have much superior features than our competitors in price and quality. There are not many companies working on cash in Fintek. That's why we want to be in the market as Fintek, which acts as a bridge connecting cash and cashless operations.”