Technological Innovation in the Physical Transfer of Valuable Cargo
ARA Security- Cash in Transit
Approximately four years ago, Tony Franov, the Managing Director of ARA Security, brought an innovative, best practice, cash in transit (CIT) technology to Australia from Europe. The technology is known as Intelligent Banknote Neutralisation System (IBNS).
The cash notes are transported in computer controlled soft skin vehicles whilst the notes themselves reside in a locked box with note degradation ink. If the locked box is stolen and penetration is attempted, an explosive devise exposes the ink to the notes.
ARA Security did a thorough review of the Work Cover Code of Compliance to ensure that this method of moving cash was an acceptable and safe method. ARA also presented the new technology to the Reserve Bank of Australia (RBA). The RBA agreed to replace damaged notes that were returned dollar for dollar.
As a result of the thorough ground work by ARA surrounding the introduction of this new technology to Australia, ARA Security now offers a cash in transit service to individual retailers and large shopping centres throughout Australia. Our discrete door-to-door service, underpinned by our innovative IBNS technology, will both safely pick up and deliver cash to our retail customers and deliver our customers’ cash to their chosen financial institution. This technology will also be used to move valuable cargo to various destinations around Australia.
This is a great example of ARA’s innovation, its thoroughness in preparation to bring a new idea to disrupt a market, and its focus on organic growth.