When customers order an item from an online retailer, package information is exchanged digitally as the item makes its way from the seller's warehouse to their front doors. This real-time technology may seem commonplace today, yet the United States cash supply chain is largely a paper-based operation that uses manual processes to transact and transfer shipments.
Fortunately, that is now changing with the recent launch of the Federal Reserve's
The E-Manifest Service empowers the cash supply chain to incorporate best practices from the online retail experience and broader logistics operations, including electronic data transfers, sharing of package information and barcode scans. Additionally, through the E-Manifest Service, the Federal Reserve upholds
"The Federal Reserve is dedicated to bringing greater transparency and efficiency to U.S. cash supply chain logistics," said Kathleen Young, executive vice president and chief of FedCash Services. "We are encouraged by the strong collaboration with industry partners, including our early adopters, to implement the E-Manifest Service, which is essential to building a resilient and modern cash supply chain that can meet public demand."
Early adopter financial institutions and armored carriers have discovered how the E-Manifest Service has increased their overall operational efficiency. Now that it is broadly available, financial institution customers of the Federal Reserve and their armored carriers can get started on implementation by filling out an
Early adopters successfully pilot the E-Manifest Service
Beginning in February 2023, a group of financial institutions and their servicing armored carriers began piloting the E-Manifest Service in search of greater transparency and efficiency for their cash operations. Early adopters include Rochester Armored Car Co., Inc. and a partner bank; Davis Bancorp and Busey Bank; AXIOM Armored and Nuvision Credit Union; and Loomis Armored and Wells Fargo Bank. All transitioned their pilot activity to early adoption and are now strategically working on their E-Manifest rollout path.
The E-Manifest Service has
Experience efficiency and transparency improvements
The E-Manifest API enables more robust and timely data-sharing capabilities. Financial institutions and armored carriers have greater visibility into their package contents, which allows them to make more informed decisions.
In addition, the E-Manifest Service is designed to accelerate dock exchanges at Federal Reserve Banks by using E-Manifest API technology to validate data exchanges and eliminate paper-based processes. Armored carriers can significantly decrease the time they spend checking in and reconciling orders at Federal Reserve docks by using electronic data, while eliminating paper deposit orders and manifests supports sustainability and going "green."
Finally, by digitalizing key points in the cash supply chain, the E-Manifest Service introduces the potential for additional innovation. Better data sharing allows for more expedited reporting and creates a wealth of knowledge that could lead to future automation opportunities and other efficiencies.
Support Cash Visibility and get involved today
The Federal Reserve's E-Manifest Service is a significant step to support
The broader Cash Visibility initiative is designed to benefit all participants in the cash supply chain. Its goal is to help build a resilient cash supply chain that can more effectively meet public demand for cash.
To learn more about the E-Manifest Service, including how to implement it, interested organizations should visit the