KBBNS Teams with SONECT for Access to Cash

Koenig and Bauer Banknote Solutions (KBBNS) has signed a new partnership with the virtual ATM company SONECT as part of its strategy to help reinvent the way we move, access and manage cash in society.

According to KBBNS, data will play a big role in the evolution and transformation of cash cycles and it has developed a family of bridging technologies connecting the physical banknote with digital ecosystems to create this data. These include its mobile banknote validation app ValiCash, which will enable SONECT to reinforce the user experience for its customer.

SONECT is one of a new breed of so-called CashTech companies that are deploying digital technology to improve cash services, filling the gap left by banks reducing their branches, ATMs and cash centres.