The Cashless Future: How Technologies and Non-Financial Services Are Transforming Business

Advantages of Online Cash Deposit

• •
  Time and Resource Savings : Employees are freed from the time-consuming tasks of preparing for and waiting for collectors. With ADMs installed, businesses can eliminate non-core cash handling functions, allowing staff to focus on customer service and sales.
• •
  Immediate Credit : Funds deposited into an ADM are immediately credited to the company's account, eliminating the delay associated with traditional bank deposits. This enables prompt payments to suppliers and reduces the need for loans.
• •
  Increased Security : Once cash is deposited, the responsibility for its safekeeping transfers to the bank, reducing the risks associated with storing cash at sales points or in offices.
• •
  Flexibility and Convenience : Businesses can deposit cash at any time, independent of collector schedules, which is particularly beneficial for companies with non-standard working hours or those located in remote areas.
• •
  Cost Savings : Online cash deposit can reduce cash transportation costs by up to 20%. Unlike traditional methods where clients pay for each collection trip, ADMs, which can hold up to 5,000 bills, reduce the frequency of collector visits.
• •
  Operational Efficiency Improvement : Automation minimizes human errors in counting money and processing documents. The ADM handles bill acceptance, counting, authenticity checks, and receipt issuance.

The New Generation of ADMs

Alfa-Bank introduced the new generation of Moniron ADMs to the Russian market, enhancing transaction security and offering greater adaptability to specific business needs. Alfa-Bank customizes the software based on client requests.

Future ADM features will include:

• •
  Depositing cash with a single button press, eliminating the need for PIN entry.
• •
  The option to select the account for revenue crediting.
• •
  The ability to use ADMs without an internet connection.

These advancements aim to make cash receiving and crediting processes more convenient and reliable for businesses.

AI in E-commerce

Experts at the International Forum of Electronic Commerce and Retail ECOM&Retail Week projected that Russia's e-commerce turnover will grow by an average of 25% annually in the coming years, with one in three purchases expected to be made online by 2028.

Artificial intelligence is becoming integral to e-commerce, benefiting both consumers and businesses. Consumers will receive personalized recommendations and assistance in product selection and purchase completion. Sellers will leverage AI to automate business processes, accelerate data analysis, and create hyper-personalized offers.

AI in Big Data Analysis

Alfa-Bank employs artificial intelligence extensively for big data analysis, enabling the provision of non-financial services to clients based on these insights. Key applications of AI in data management include:

• •
  Diagnosis : AI helps clients move beyond simple retrospective reports to understand the root causes of specific results by identifying relationships within data.
• •
  Proactive Response : AI models enable clients to react instantly to data and make real-time decisions.
• •
  Hyper-Personalization : AI facilitates the creation of digital client twins and allows for simultaneous testing of numerous scenarios to deliver highly personalized offers.

Integration with Partners

Alfa-Bank collaborates with partners to advance technological development. An example is the integration of an end-to-end online order process for ADM services via API with a cash transportation specialist. This collaboration has reduced manual labor, improved interaction speed between the bank and its partner, and enhanced operational transparency.

Payment via SBP at Self-Service Checkout

In partnership with a major federal grocery chain, Alfa-Bank has implemented payment via the System for Fast Payments (SBP) at self-service checkouts. This allows customers to pay for purchases quickly and securely without cash, by scanning a QR code on the screen and confirming the payment in the Alfa-Bank mobile app.

This innovation underscores the bank's dedication to developing secure and convenient services that leverage mobile technology for cashless transactions. The SBP payment method is currently available in over 600 stores of the grocery chain that feature self-service kiosks.

Multi-Bank for Corporate Clients

Alfa-Bank, in collaboration with other market participants, has launched a pilot project for a multi-bank service for corporate clients. This new service enables legal entities to view and manage account data from multiple banks within the Alfa-Business platform. Pilot project participants gain access to current balances across their accounts at both Alfa-Bank and other participating banks. Built on Open Banking technology, the service ensures high levels of information security and data confidentiality, consolidating account management into a single interface to enhance fund movement transparency and optimize treasury processes.

Development of Services in the Housing and Utilities Sector

Alfa-Bank is implementing innovative solutions within the housing and utilities sector. These initiatives aim to improve service quality for millions of citizens, advance technologies that simplify interactions between management companies and clients, and facilitate engagement with government agencies.