UK firm chosen for Fed cash management overhaul
CPS will take part in “competitive development” to replace high-speed cash-processing machines
The Federal Reserve has chosen UK firm Cash Processing Solutions (CPS) to design, develop and manufacture new high-speed currency-processing equipment, following a two-year tender process.
“Effective cash-processing equipment is critical to the mission of the Federal Reserve’s cash function, enabling us to meet demand for US currency, ensure the quality and integrity of currency in circulation, and maintain cost-effective operations,” says Mark Gould, product director for the Fed’s Cash
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