Thank you to our presenters who generously provided their time and expertise for the 2017 Asia Cash Cycle Seminar (ICCOS). The information on this page pertains to the September 2017 edition of the seminar. We will post information soon for the September 2018 edition in Indonesia.
"It was an excellent event in virtually all areas. The increasingly cohesive group of repeat attendees really helps to build industry value through information sharing.” Safeguards G4S
The following presenters shared their expertise at the 2017 Asia Cash Cycle Seminar in Bangkok.
GLOBAL TRENDS IN PAYMENTS AND THE FUTURE OF CASH IN CIRCULATION
Vice President of Payments & Business Development
Mr. Gonzalo Santamaria has honed his leadership skills and industry knowledge for over 30 years, with a background in the technical, commercial and business development streams within world-class industry supplier companies. He has valuable experience in automation of banknote processing, process re-engineering, supply-chain optimization and efficiencies through security of cash in the cash cycle, and has successfully assisted in designing and implementing state-of-the-art automated currency vault solutions, cash management re-engineering including commercial cash processing patents, and supply chain optimization solutions. In 2011, Gonzalo was named Managing Director for Currency Research (CR). In 2014 he was promoted to Vice President with oversight over the regional Cash Cycle Seminars (ICCOS) as well as CR's Review Seminars, and Co-Chairman of the Coin Conference. As of 2017, Gonzalo is Vice President of Payments & Business Development; his job is to foster and manage the CR consulting arm, as well as the Central Bank Payments and Infrastructure initiatives. He is a global expert in cash cycles and specializes in areas including Cash Recirculation (Recycling), Cash Processing workflows and Branch Automation.
Presentation Synopsis: The payments landscape is changing and the world is observing closely to see how it develops. What markets are adopting these technologies and are they serving as a catalyst for financial inclusion, or simply another revenue stream for specific blue-chip corporations? Non-cash payments are growing at a much faster rate than cash payments and yet cash in circulation continues to grow - is this sustainable? How can the industry ensure an efficient cash supply chain if/when the decline becomes more pronounced?
What are the current trends and innovations within payments and what impact these are truly having on the entire payments landscape? Based on global surveys circulated by Currency Research, we will present some valuable insights, including the top non-cash innovations survey respondents have predicted may have the greatest impact on currency usage in the future. The future of cash is likely not a cash-less society but instead a less-cash society.
The effects of these developments are still not widely understood. The statistics however from central banks continue to report that cash remains king as a preferred consumer payment method. Today >80% of worldwide consumer spending is done in cash despite many forecasting the demise of this resilient product. We will attempt to shed some light on this topic with insight from our surveys and forums dedicated to the currency function and payments.
RETAIL CASH HANDLING OPTIMISATION - SMALL TO LARGE RETAILERS
Managing Director of Greater China
Chris Wright works at G4S, the world’s leading security solutions group with offices in more than 100 countries and 585,000 employees. In a career spanning over 15 years with G4S, Chris held senior positions of: Country Manager, Indonesia; Regional Managing Director, Middle East; and Regional Chief Operations Officer, Asia Pacific and Middle East. He has extensive experience in business strategy and integration, oversight of IT Systems development and implementation, operations and senior management. Presently, he holds the position of Managing Director of Greater China leading the Mainland China, Taiwan, Japan, Hong Kong and Macau businesses. Chris possesses an MBA majoring in Technology Management and a Bachelor of Professional Studies, Asian Economics. He is also a member of Australian Institute of Company Directors.
Presentation Synopsis: Retail organisations globally achieve overall profit margins as low as 2%. With cash handling costs averaging up to 2% of turnover and shrinkage between 3-7% of in-store costs, how can retailers streamline their operations and reduce costs?
This presentation will look at developments in this field globally and examine what really matters in streamlining the value chain.
STRATEGIES FOR FOREIGN BANKNOTE PROCESSING
Jens Seidl is Director, Wholesale Banknotes & Cash Operations for Travelex, managing an estate of 18 cash centres globally as well as heading up the Wholesale Banknotes business, with Dealing Operations in the Americas, Europe, and APAC. Mr. Seidl has been in the industry for 27 years, with previous roles in operations management and business development. He headed up Thomas Cook’s European Outsourcing business as Managing Director for 10 years before running an extensive transformation programme for Travelex’s flagship cash centre in the UK. He lives in Frankfurt, Germany and reports to Travelex’s Executive Board.
Presentation Synopsis: Commercial and Central Bank cash centres around the world have gone to great lengths to make their domestic cash processing as efficient as possible. A necessary evil for many is to also handle foreign currency, a niche product that is more often seen as a distraction rather than an opportunity. This presentation will cover a range of different approaches to dealing with Foreign Currency in the cash cycle, from simple "make or buy" decisions to a wide spectrum of solutions that go way beyond cash centre optimisation.
STAYING AHEAD OF EVOLVING CASH CYCLE WITH CASH FORECASTING AND OPTIMIZATION
Chief Operations Officer
Saudi Financial Support Services Company (Sanid)
Marius Potgieter joined the Saudi Financial Support Services Company (Sanid) in October 2016 with the key scope to ensure business turnaround, risk mitigation and overall process improvement in a challenging evolving market in Saudi Arabia. Prior to this he managed a successful startup of a Cash Solutions business from a “blank piece of paper” startup to a recognized player in Qatar.
His experience spans more than 15 years in senior executive positions including Cash Centers, Risk, Operations and Divisional Head, with a major MNC in Africa and the Middle East where he brought about operational efficiencies and business turnaround in challenging markets such as South Africa, Saudi Arabia, UAE and Qatar.
His interest in technology as part of optimization and control within the Secure Logistics / Cash Management environment lead to his current role. Here and in his previous role, he could capitalize on his business, industry and regional knowledge in directing the development and turnaround of a recognized player through technology implementation and utilization.
Presentation Synopsis: “Cash is King” is a very true expression within an evolving Saudi market where more than 90% of payments are still done in cash. Unfortunately the “King” comes at a price due to an overall lack of innovation and/or technology in the ATM cash cycle.
This presentation will discuss how innovation and technology, delivered via Transtrack CWC software, was used in transforming the cash cycle within Saudi Arabia through integrating all ATM management, contract and SLA management, Forecasting and Optimization, complete Track & Trace management of all services executed, and Cash Center process management. The challenges experienced will also be discussed.
The integration afforded operational and cost efficiencies, which were extended to the banks as clients. Though cost optimization was the main driver, it was essential to ensure services were provided with full transparency – “Outsourcing with Control” – to overcome the banks’ fear of losing control in the outsourcing cycle.
SELF SERVICE TERMINALS - PHYSICAL AND FRAUDULENT ATTACKS - WHO IS RESPONSIBLE?
Ted Devereux currently serves as the Executive Director of the Asian Cash Management Association (ACMA). Ted has over 35 years of experience in the Asia Pacific Region, both through starting and operating his own security businesses and working at a senior management level for multi-national corporations. He is currently the Chairman and co-founder of the Spearpoint Group and is a Non-Executive Director for G4S Cash Management Services in the Philippines and the ASA Group. He was, for many years, the Chairman of the Hong Kong Security Association and was a key member of the committee promoting the introduction of legislation to govern the Security Industry with a focus on improving security standards. Ted is a Fellow of the British Institute of Management and the British Institute of Directors.
Presentation Synopsis: The deployment of Self Service Terminals (ATMs/CDMs/Recyclers) continues to grow in Asia despite the rise of other payment methods. For example, South Korea has the highest number of SSTs per million population globally and has one of the highest densities of internet banking users. This rather flies in the face of the digital payment proponents and the death of cash!
Cash is still the most popular payment method which begs a number of questions: Why is protection not in-built at the time of manufacture, why are the deployment locations not always adequately secured and why are the processes inadequate to deter, detect and prevent the opportunity for attacks or losses?
This presentation will explore who should take responsibility and some of the actions that can be taken to deter, detect and, as a consequence, reduce attacks and losses and make the withdrawal of cash safe.
DETECTIVE AND PREVENTIVE MEASURES AGAINST CYBER FRAUD
Joe C.L. Chan
Professor & Director
The Hong Kong Polytechnic University & GuardStar Company Limited
Prof. Joe C.L. Chan is a director of GuardSTAR Company Limited, a joint venture between Guardforce Services Solutions and AdvSTAR Laboratory. He is also the Chief Executive Officer of Advanced Security Technology and Research Laboratory Company Limited (AdvSTAR Lab) and Adjunct Professor in the Hong Kong Polytechnic University. Prior to the establishment of AdvSTAR Lab, he was the Director, Information Security of the Hong Kong Applied Science and Technology Research Institute founded by the Hong Kong Government.
In the last 15 years, he led the R&D of various advanced information security technologies. including patented hardware security token, email and cloud encryption systems, and multi-factor authentication technologies.
Prof. Chan has been devoted to the research and development of numerous data processing systems. These research and development activities include cryptosystems, DRM reverse engineering, semantics database systems, elevator control, distant video learning, audio compression, and many other areas. Prof. Chan has been granted 4 patents.
Prof. Chan obtained his PhD degree in Electronic Engineering from City University London. He is also the holder of a CISSP and a CISA. Currently, he is the Vice-Chairman of Research in the Cloud Security Alliance HK Chapter.
Presentation Synopsis: The recent rising number of cyber frauds is not only affecting the continued development and modernization of the banking and financial industries, but also drawing attention from regulators and government authorities. The stringent regulations imposed by the latter, as a result of increasing fraud activities, adversely affect the industry’s operating costs. In this presentation, we share some typical examples of cyber frauds and discuss the detective and preventive measures that could be taken by the industry before an incident happens.
WORD FROM THE FRONTLINES OF DEMONETIZATION: A CMC’S PERSPECTIVE AND LESSONS LEARNT
Head - Risk Management
CMS Info Systems
Anush Raghavan is Vice President & Head of Securitrans, one of two cash management companies of the CMS group. He has been with the CMS group since 2009 and was previously Head of Risk Management, establishing many industry best practices during that time. Anush is an expert in cash cycles and specializes in various areas including risks, operations, process optimization, and business strategy. He is a post-graduate from Indian Institute of Management Ahmedabad and a graduate in law. Anush is also a member of the Cash Logistics Association of India and the Asian Cash Management Association.
Presentation Synopsis: Nov 8th, 2016 will go down in the Indian Economy as a red letter day, when literally overnight the Rs. 500 and Rs.1000 banknotes were demonetised. Together these two banknotes formed 86% of all currency in circulation, and the nation went through perhaps one of the most complex logistical exercises worldwide in replacing these with new currency. Within the first week, the impact of this move by the Indian government was felt at an individual, industry, sectoral and economic level. As India’s largest ATM cash management company, handling more than 50% of all ATM cash replenishment, and the largest retail cash collection service, with a presence across 95% of all the districts in India, CMS was at the frontline of managing this exercise in evacuation, recalibration and replenishment of ATMs. This presentation delves into the company's singular experience in handling and surviving Demonetisation, providing leadership lessons in coping with an increasingly chaotic ecosystem, while giving an overall picture of how the country fared in its remonetisation efforts in the immediate aftermath.
BUSINESS CONTINUITY PLANNING IN CASH OPERATIONS
SBP Banking Services Corporation
Presently serving as Deputy Director Currency Management Department at State Bank of Pakistan (SBP) Banking Services Corporation, Mr. Ali Madani is responsible for the Public Debt Management portfolio. As a team member, he plays a pivotal role in the execution of the Central Bank’s Currency Management Strategy. He started his career in 2005 with ABN AMRO Bank in the Retail Banking Division and remained an integral part of the Product Development Team managing a diverse portfolio of commercial banking products including Cash Management. He also served as Head of Systems & Operations in Al-Baraka Bank (Pakistan) Limited looking after retail banking operations and ADC products. He is additionally a Master Trainer for Currency Management, Public Debt Policy and Retail Banking Operations.
Mr. Madani holds a Master of Business Administration (MBA) degree from the Institute of Business Management, Karachi.
Presentation Synopsis: Business Continuity Planning (BCP) & Disaster Recovery (DR) arrangements at the State Bank of Pakistan (SBP) are of utmost importance as Pakistan is one of the countries frequently affected by both natural and man-made disasters. For this purpose, the SBP has formulated BCP Regulations for the banking industry to ensure availability of uninterrupted and continuous financial services. On the other hand, the BCP arrangements for effective and efficient cash management are also an integral part of the SBP’s BCP & DR arrangements. Unexpected disasters such as floods, earthquakes, hurricanes, electricity/power failures, strikes, explosions and fires require extensive understanding and preparation for BCP testing to face such calamities. This presentation covers how SBP has developed a comprehensive BCP by proactively understanding the dynamics and carefully assessing the nature of catastrophes threatening its core business (i.e., Effective and Efficient Cash Management operations) and measures taken by the Bank to ensure the functioning of the banking sector in the wake of such incidents.
EFFECTS OF GLOBAL TRENDS: HOW DIGITALIZATION AND AUTOMATION CHANGE OUR INDUSTRY!
President Director, PT Giesecke & Devrient Indonesia
Vice President, Marketing & Sales, South East Asia
Giesecke & Devrient
Mr. Matthias Roehrich is President Director of Giesecke & Devrient Indonesia and Vice President Marketing & Sales South East Asia, G+D Currency Technology Solutions. Mr. Matthias Roehrich is a Member of the Group Executive Management and the Executive Management of Giesecke and Devrient APAC Ltd. Hong Kong. Before he joined the G&D APAC team in 2013 he headed Government Solutions Sales & Operations for Asia, Middle East and Africa at Giesecke & Devrient FZE Dubai. He started his career at Giesecke & Devrient’s Germany Headquarters in 2000 as Regional Sales Director Banknote - and Security Printing Asia and from 2004 onwards as Regional Sales Director Banknote - and Security Printing Africa. He graduated from University of Erlangen Nuernberg, Germany and holds a Master of Business Administration Degree. Mr. Roehrich is married and has 3 children.
Presentation Synopsis: Automation and digitalization have become a reality in all areas of our daily life. Both have reached our industry raising questions concerning what to do, how to do it and when. Stand-alone, off-line banknote processing systems are a thing of the past. They are increasingly being connected to form the core of smart factories. Communication and collaboration between machines and human-machine interaction enable increased business intelligence. This session will share how global trends are influencing our business and benefit all participants across the value chain.
CASH AND PAYMENTS IN THAILAND
Mr. Paiboon Kittisrikangwan joined the Bank of Thailand in 1984 and has experience in a wide range of central banking functions, including money and foreign exchange market operation, reserve management, and banking prudential policy. For five years prior to his current position, he was Assistant Governor in charge of monetary policy and secretary to the Monetary Policy Committee (MPC). As Deputy Governor for operations, he is now concurrently Chairman of the Banknote Management Committee and a member of the MPC and the Payment Systems Committee.
Mr. Paiboon holds a BSc Econ (Monetary Economics) from the London School of Economics and Political Science and a MBA (Finance) from the University of Chicago. He has completed high-level management training courses from Harvard Business School (AMP) and Thailand’s National Defence College.
Presentation Synopsis: The payment system in Thailand has changed in recent years due to the development of financial infrastructures and digital technology. Furthermore, the implementation of the National e-Payment Master Plan, which provides an integrated electronic payment system, will create an environment for the digital economy.
A significant growth of non-cash transactions has been observed, nevertheless, statistical data indicate a steady growth of cash transactions. Adoption of digital payments may not occur rapidly and cash payments still play an important role in Thailand. This presentation will provide information and statistical data on cash and non-cash payments in Thailand and issues affecting cash in recent circumstances.
SQUEEZING CASH OUT OF YOUR ATM OPERATIONS WITH CASH RECYCLING & DIGITAL PAYMENT EXPERIENCES
Ina Suwandi is Executive Vice President of the Transaction Banking Product Development Division for PT Bank Central Asia Tbk. In this capacity, Ms. Suwandi oversees Bank Central Asia's development of a growing number of banking products, including its electronic banking and funding products.
Ms. Suwandi is a graduate of the Department of Food Technology from Institut Pertanian Bogor and possesses a master's degree in management studies from IPMI Jakarta. Ms. Suwandi joined Bank Central Asia in 1991.
Presentation Synopsis: The growth of transaction amount and usage frequency of Self Service Terminals (SST) are increasing year on year. The number of SST has reached more than 17,000 units in 2017, and it's related to a bank's operational costs for cash handling, maintenance, and third parties. One of the strategies to achieve operational efficiency is by exploring automated solutions, such as a Cash Recycling Machine (CRM). Drawing on our considerable experience and best practices, we can answer why a Cash Recycling Machine can be your way to squeeze your operational cost. In this session, we will share the keys to successful CRM implementation and how to overcome its challenges.
CASH IN A CASHLESS SOCIETY
Anesh Naidoo is the Head of Cash Services - Self Service Banking Channel for DBS Singapore. Prior to joining DBS, Anesh led a global team from Singapore for Barclays Bank. His portfolio spanned various regions – the UK, Europe, Africa and the Middle East – and he was involved in a range of integral changes to how Barclays manages cash in various regions. In his role at DBS he was part of the team that led the transformation of Cash in Transit for DBS in Singapore. Today his team is responsible for a major portion of all cash flow across Singapore. Mr. Naidoo and the team are further investigating opportunities to rationalize cash in Singapore from both consumer and corporate points of view and looking to further take these practices regionally. In his career he has also held leadership roles in the financial services industry across Africa. Mr. Naidoo’s experience spans more than 20 years including Social Security payments, Credit, Debit & Charge Cards, Banking operations and lecturing and training.
Presentation Synopsis: The cash landscape in Singapore is under pressure to change as it is not sustainable in its current form. Is the world changing towards a cashless society?
This presentation will cover a range of strategies employed to facilitate this change and show its effect on cash in this market and globally.
Decymus is Director / Group Head of Policy, Currency Management Department at Bank Indonesia. His specializations include macroeconomic analysis, balance of payments analysis, and currency management policy, among others. Decymus is a graduate of Gadjah Mada University in Indonesia, and he earned a master's degree in development economics from Williams College in the United States. He joined Bank Indonesia in 1993. He was a Deputy Director in Economic Research and Monetary Policy Department before joining the Currency Management Department.
Presentation Synopsis: Information will be posted soon.
MOST USED SECURITY FEATURES OVER THE PAST FIVE YEARS
Head of International Department
Alexander Nefedov graduated from the Moscow State University of International Relations (MGIMO), specializing in International Relations. He is currently the Head of International Department at the publishing house INTERCRIM-PRESS. For more than one year, Alexander has been involved in marketing and sales of the company’s products. He also covers major international events in the currency industry for the magazine Banknotes of the World (e.g., Banknote Conference, Currency Conference, Cash Cycle Seminars, High Security Printing, etc.). He is also responsible for media partnerships with Currency Research and Reconnaissance International.
Banknote Analysis Consultant
Elena Rumyantseva graduated from the Moscow State University of Fine Chemical Technologies in 1982, specializing in Chemistry and Precious Metals Technology. In a career spanning over 20 years with the Bank of Russia, Elena held various positions in the Cash Circulation Department. She has extensive experience in banknote security and cash circulation. At the beginning of 2017, Elena joined INTERCRIM-PRESS team as Banknote Analysis Consultant to share her broad knowledge with a larger audience. She holds a doctorate degree in Technical Science.
Presentation Synopsis: Cash is the most popular payment instrument to carry out daily transactions all over the world. Every regulator makes persistent efforts to improve the security of the national currency, resulting in the introduction of new and more secure series of banknotes. Changing old for new series is a complicated and continuous process that can potentially last for several years. New security features are introduced to ensure efficient banknote authentication in all the stages of circulation, as well as to meet the requirements for currency issuance of present and future banknotes. This presentation focuses on security features introduced on banknotes by the issuance authorities over the past five years.
INDUSTRY 4.0 MEETS THE CASH CYCLE: FROM BANKNOTE PRODUCTION TO PROCESSING
G+D Currency Technology
Shan joined G+D Currency Technology in 2013 and is based out of Toronto, Canada. Being a Product Manager by profession, he is responsible for value creation of G+D Cash Management Software portfolio globally, across multiple customer segments. He has more than 8 years of cross-functional experience in business strategy, product management and marketing across various industries. He employs his business acumen and Product Management knowledge to strike the right balance between product value and customer benefit.
Presentation Synopsis: The current trend of automation and data exchange has reached the cash cycle. Consequently, an increasing number of Banknote Processing Systems in central banks, printing works, CITs and commercial banks are now connected. These systems provide a large volume of information from banknote raw material production to printing and processing. This data can be processed with advanced tools to generate meaningful information to allow smarter production and cost savings for the cash cycle.
POLYMER FOR LOW DENOMINATION BANKNOTES - A COUNTRY'S EXPERIENCE
Chief Manager Currency & Corporate Services Group
Reserve Bank of Fiji
After a career in accountancy, where she became a Chief Financial Officer, Susan Kumar joined the Reserve Bank of Fiji in 2006. Her first position was the Accounting Manager in the Currency & Corporate Services Group and in May 2011, she became the group’s Chief Manager. She is a member of the senior management team of the Reserve Bank reporting to the Governor and Deputy Governor. Her group is responsible for maintaining an adequate supply of quality banknotes and coins in circulation and ensuring the integrity of the banknotes and coins. Susan is also responsible for Information Technology, Human Resources, Financial Management, Security, Property Management, and General Administration at the Reserve Bank.
Presentation Synopsis: The Reserve Bank of Fiji, after extensive consultations and research, introduced its first polymer banknote in the lowest $5 banknote denomination in April 2013 as part of a banknote and coin modernisation program. This banknote has been in circulation for four years now. The Reserve Bank of Fiji now evaluates the performance of its first polymer banknote denomination whilst in circulation and determines whether this polymer banknote has met the Reserve Bank of Fiji’s objective and expectation of enhancing banknote durability and quality.
THINKING ABOUT USING DATA TO OPTIMISE YOUR CASH OPERATIONS? THIS IS ALREADY HAPPENING AROUND THE WORLD - DISCOVER HOW
Regional Service and Business Development Director
Cash Processing Solutions (CPS)
Having spent much of his career working in cash processing operations, Shawn has an in-depth understanding of the processes involved in managing cash as well as the priorities and challenges faced by commercial banks and CITs. Shawn started his career working for a commercial bank in its cash processing centre in South Africa. He then worked for a CIT company that began cash processing operations in the early 90s. During the 17 years with this company Shawn managed various operations as well as projects from implementing cash processing software to re-engineer the cash processes. Shawn then moved to CPS where he spent ten years managing the Africa region, until recently where he is now responsible for the service operations in Latin America and the Pacific regions, as well as Africa.
Presentation Synopsis: Everyone is talking about data. Data is everywhere, but harnessing this data and turning it into something useful is key. For central banks, this means being able to accurately forecast future demand for cash, maximise the performance of banknotes in circulation, optimise future banknote design and specification and set the right clean note policy. This also means enabling central banks to independently check that their new banknotes, before being issued into circulation are produced to the correct specification and quality levels. Discover how central banks across the world are already achieving this and how you too can optimise your cash cycle and reduce your cost of cash.
THE INTELLIGENT BANKNOTE TO SECURE ITS FUTURE
coverno (Koenig & Bauer AG and OWL University of Applied Sciences)
Dr.-Ing. Uwe Mönks studied Electrical Engineering (Dipl.-Ing.) and Information Technology (M.Sc.) at the OWL University of Applied Sciences (Lemgo, Germany), Halmstad University (Sweden), and Aalborg University (Denmark). He graduated in 2009 and worked until early 2017 as research associate with project leading responsibilities at the inIT – Institute Industrial IT (Lemgo, Germany). His research interests are in the area of multisensor and information fusion, pattern recognition, and machine learning. During this time he completed his doctorate (Dr.-Ing.) in a cooperative graduation with Ruhr-University Bochum in 2016. Uwe Mönks is currently the managing director of coverno GmbH (Lemgo, Germany), a company of Koenig & Bauer AG and OWL University of Applied Sciences.
Presentation Synopsis: One of the lingering threats to the banknote is its associated costs for handling and logistics in the cash cycle. Independent of the merits of the various attacks angled at the banknote from interested parties, it is important that the banknote supports these processes to reduce the cost of cash.
CURRENCY AND TECHNOLOGY, EVOLVING THE OLDEST PAYMENT INSTRUMENT: A US PERSPECTIVE
Managing Director, Americas & Carribean
Before joining Currency Research, Shaun spent 16 years at the Board of Governors of the Federal Reserve System. Shaun began his career in currency in 2000 in the Division of Monetary Affairs where he forecasted daily changes in currency in circulation. In 2003, he transitioned to the Division of Reserve Bank Operations and Payment Systems where he oversaw all operational and policy aspects of U.S. banknote issuance and processing.
Shaun was appointed Assistant Director in 2013 and was responsible for the global issuance of U.S. currency and operations of Reserve Bank cash processing centers. Shaun is an expert on the usage and circulation of U.S. currency and represented the Federal Reserve on numerous domestic and international policy making groups. Shaun also chaired the Committee on Custody Controls and served on the Interagency Currency Design Committee where he gained extensive knowledge of security features, design elements, and counterfeit risks.
Shaun graduated from Connecticut College with bachelor degrees in Government and Economics and later earned a masters degree from John Hopkins University in Applied Economics. He currently resides just outside Washington, D.C., in Springfield, Virginia.
Presentation Synopsis: Currency is evolving and technology is advancing. We often think of technological advancement as a threat to cash, when in fact it is an advantage. Paper currency is not an antiquated payment instrument, it is a platform that can adapt to and incorporate new technologies throughout its lifecycle. From single note inspection at the printer to data analytics on fitness characteristics in circulation, technology exists to improve currency, keeping it a most relevant and secure payment instrument.