Giesecke Devrient launches its Compass Cash Center as a SaaS service

The cash center management represents a network of processes that requires multiple resources. In addition, software solutions have the capability to offer customers improved efficiency and automation in this area by optimising workflows, making them more transparent, as well as improving predictability with real-time data. 

In order to combine these services and benefits, Giesecke+Devrient made its Compass Cash Center solution available from the cloud via a flexible, scalable, and secure Software-as-a-Service (SaaS), which was named Compass Cash Center Cloud solution. 

More information on the launch

The Compass Cash Center Cloud includes a list of new benefits, such as improved cost efficiency (as it no longer needs to be installed within the client’s data center, the service reduces IT operating costs, integrates cash management efficiency, and simplifies IT administration processes), increased overall scalability, flexibility, and availability (as cloud services are usually highly scalable, they adapt in a fast and easy manner to the changing needs and preferences of the industry, ensuring an optimised availability to the new product), as well as quick and efficient access. The service does not need software installation on users’ workstations, as it was developed to be operated through a web browser. This offered improved control of the cash center, as it can be performed anytime via browser access. 

The SaaS version of the Compass Cash Center product complies with over 100 regional and global data protection standards and requirements. The service was made available with two versions, Startes and Premium, and an unreleased one, Enterprise, which is set to follow in 2024. The Starter version was developed with functions such as inventory management, deposit management, and order management. The Premium version is set to provide clients with complete cash management for the commercial sector of the industry, including ATM replenishment. 

Giesecke+Devrient’s recent partnerships and developments

Germany-based security technology company Giesecke+Devrient provides its clients and customers with multiple services and solutions, such as debit and credit card issuance, instant issuance, mobile payments, and issuance API. The firm announced several partnerships and product releases in the last couple of months, covering different geographic areas around the world. 

In June 2023, Giesecke+Devrient became a Digital First Integrator in the Mastercard Engage network, aiming to offer Digital First payment solutions to users and businesses. Following the announcement, D+G expanded its role into the Mastercard Engage network, being given the possibility to provide clients of Mastercard with solutions and products that meet the demands and expectations of the industry. Included in this list was a suite of secure and efficient digital payment services, such as credit card issuance, mobile payments, digital payments, and digital debit cards.

Earlier in March 2023, the company launched a solution that was set to provide banks and financial institutions with biometric-based client authentication methods, for both banking and transaction approvals.

In addition, the solution was aimed to make the authentication process faster, easier, and more reliable, focusing on the overall improvement of customer experience. The service required either a fingerprint or a facial scan in order to enable secure, two-factor authenticated access across all channels, both on mobile applications and on the web browser.

The solution was designed on the global FIDO (Fast Identity Online) technology standard, while the two-factor authentication process took place in the background, enabling bank customers to carry out their authentication biometrically. At the same time, the tool was made fully compliant with the regulatory requirement of the likes of PSD2 (EU Payment Service Directive 2) and thus addressed the key needs of banks and financial institutions – convenient and secure login process, optimised ecommerce, and safe authentication.