The flexible and dynamic cash cycle reporting tool
Unearth banknote performance insights only possible using the big data analytic power of NoteChain®
The power of this all-encompassing big data program offers a revolutionary approach for the banknote industry. For the first time, Central Banks can efficiently explore billions of specific currency data points to understand the true reality of what is happening to their banknotes in the cash cycle and why.
Visualise your currency in a whole new light
Ask any question about your currency’s performance.
With the ability to analyse the data in any number of ways, NoteChain® will provide the answer in the form of a beautiful dashboard display that makes understanding and discussing the results of its analysis easy.
Creating effective visualisations gives data purpose. The data crunching is impressive, but if you are looking to interpret that data into meaningful information, NoteChain® dashboard visualisations are a standout feature.
What questions can NoteChain® answer?
With access to banknote serial number data, NoteChain® provides answers to any number of specific questions Central Bank Managers will have about the performance of their cash supply, such as:
- How hard are your banknotes working in circulation?
- What is the current life of notes in circulation (by denomination or series or within a geographical area)?
- How much does a banknote (by denomination or series) cost in circulation per day, per month, each year?
- Which banknotes are performing the best and why (denomination, series)?
- How efficiently are banknotes being distributed?
- And many more…
What data points should I use?
Many Central Banks have the serial number reading infrastructure in place. Using NoteChain® at key times in the cash cycle will enable 100% transparency and insight of your banknotes’ performance.
Serial number readings can be recorded at:
- New note delivery
- Return for processing
- Re-issue into circulation
These are the five key data points that will enable full performance transparency. The more of these that happen, the fuller the picture.
NoteChain® can receive data from any source in the cash cycle capable of reading and storing serial number data. This is at the heart of the big data capability of NoteChain®. Billions of data points recorded, a multitude of algorithms interrogating the data and a wide range of variables tested to answer questions that previously couldn’t be answered, to unearth insights that previously could not be seen.
The desk pilot program
Trial the software quickly, easily and for free
The perfect entry point to gain first-hand experience of applying NoteChain® to your currency system if you already read serial numbers.
The Desk Pilot program allows a Central Bank to trial the power of NoteChain® using a single set of data, at no charge and with no obligation.
In collaboration with the Bank, the 7 Layer team will develop reports to answer the questions the Bank needs to answer most, then process a single set of data of any size (i.e. one cash centre or the whole currency system) to produce a dashboard visualisation.
The data can either be run through 7 Layer’s secure digital environment in the United Kingdom, or on-site at the Central Bank’s premises.
The live pilot program
Six months that will change the game
Experience the true capability of NoteChain® through the collection of cash cycle data for a six-month period.
By systematically collecting and analysing live data at regular intervals, a true picture of your banknotes’ performance will emerge. It is through the comparison of multiple data sets over time that NoteChain® will identify and make evident trends, relationships and previously unseen performance correlations.
Six months’ data is sufficient to start to see trends and to demonstrate the operational benefits of NoteChain®. Maximising the full potential will take longer but the key benefits and capability will be clear.
On-going insights of NoteChain® become more powerful as the total volume of data grows, making Continuous Improvement of the currency system a business process for the long term.
The Future of Currency Management is now a reality: Decision-making based on facts and evidence made possible only through the big data analytic power of NoteChain®
The team behind NoteChain® is the currency industry’s leading software development force.
By experiencing NoteChain® using the Desk Pilot, you can work with this talented team to seamlessly introduce the benefits of big data and data analytics into your organisation.
The Live Pilot program allows you to put NoteChain®’s 900,000 lines of code and 20 programmer-years of development to work in the most powerful way possible.
7 Layer software products have been in the banknote industry for more than 20 years and are currently being used by more than 30 central banks worldwide. Cash logistics operations domestically and globally have continued to improve through the efforts of companies like 7 Layer, whose software innovations are tightly linked to banknote processing equipment developments and evolving customer needs.
NoteChain®, the world’s only software platform built specifically for end-to-end currency management.