Eurotech and Mondialpol team on cloud-based cash transport tracking for Intesa Sanpaolo

Source: Eurotech

Eurotech and Mondialpol Service today announced the finalisation of an agreement for the real-time monitoring of deliveries and withdrawals of cash via cloud computing thanks to "Cloud Ready" mobile devices from Eurotech.

The agreement will allow to significantly improve the service level provided to the Intesa Sanpaolo Group, making cash transport and counting more efficient and increasing security standards, and this demonstrates the strong innovation spirit of this banking Group.

This is the first security application in Italy to use this technology, and Eurotech's partnership with the Mondialpol group is intended to transform the cash transport sector, which until now has been managed in the traditional way. Another innovating element is the "Device-as-a-Service" (DaaS) supply model, which will enable Mondialpol to purchase the Eurotech solution by paying a monthly fee for a period of three years for each device that will be put into service during 2011.

The solution consists of providing the crews of the armoured trucks of all the 130 cash transport companies involved in the contract with a portable Eurotech HRC4200 device, which enables the barcodes on the money bundles to be read at the moment of delivery, identifying the time, type of operation (withdrawal/delivery), the branch at which the operation is taking place, the GPS position that can be viewed on a map, and the security guard and the contact person at the bank conducting the operation, with an option for the bank contact person to digitally sign directly on the Eurotech device.

Thanks to Eurotech's "Device-to-Cloud" technology, value-added data generated in a distributed way by all the different portable devices is collected and conveyed securely in real time to the Cloud infrastructure. In Cloud there is a controlled access to data, enabling everyone to see or manage the data for which they are responsible; and data of interest can then be downloaded from the Cloud to Mondialpol Service's management system, so that it can be integrated with the information produced by the rest of the process.

"We chose Eurotech's Device-to-Cloud technology for its capacity to manage data directly in cloud computing, given that we expect between 12,000 and 15,000 bundles a day to be exchanged with Intesa Sanpaolo. We calculated that we conducted around 900,000 transport operations last year, and when we saw these numbers, we immediately became concerned about how to manage such a quantity of data without our system feeling the effects", explained Fabio Mura, Chief Executive Officer and Executive Chairman of Mondialpol Service S.p.A.. "Now that we want to electronically certify deliveries in order to monitor service levels in real time, and are planning to manage service billing more automatically, we are counting on Eurotech to provide data transmission, collection and management capacities, key factors in enabling all the functions that we need".

"This agreement shows Eurotech's capability to anticipate the needs of the market with technology that is always cutting edge, and demonstrates how it can be applied in a wide variety of sectors. Our Device Data Management via Cloud solution enables us to relieve companies of the need to manage and protect with their own IT infrastructure growing quantities of heterogeneous data arriving from devices spread in different geographical locations, and the Device-as-a-Service supply model relieves them of the burden of the initial investment, which often slows companies' adoption of new technologies," added Roberto Siagri, CEO and Chairman of Eurotech.

NB: although the contract is worth less than € 1 million a year, the agreement in itself is important for the company, in that it shows the development of a technology with potential application in different sectors, which could subsequently lead to further volume orders. In this case, Eurotech reasserts its commitment to promptly inform the market.

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