Cash management company Vaultex achieves a three-way balance with a bespoke software solution

Vaultex is responsible for verifying and recycling cash and coins in the UK banking system, including the returning of unfit money to the Bank of England (BoE), ordering new batches and management of high-security vaults. Declining cash volumes and a need for ongoing efficiency improvements caused Vaultex to embark on developing a next-generation cash management platform to manage cash through the lifecycle, covering receipt, crediting customer accounts, storage and outflow to ATMs, bank branches, and retailers.

Working with BJSS, Vaultex has been able to deliver the software for their new three-way balance system by utilising our Queen’s Award-winning Enterprise Agile® approach.

“We have found BJSS to be collaborative, flexible to our evolving needs, and able to deliver high-quality solutions as well as provide effective mentoring to our team. We look forward to working with them again in the future.”

Phil Smith, CIO, Vaultex

Creating a more efficient and agile Vaultex

Vaultex is looking to become more efficient in the way they run its day-to-day business operations. Before embarking on this project, they set out to identify a collaborative delivery partner with a track record of implementing agile ways of working across the enterprise. After an extensive procurement process, BJSS was selected to build and operate Vaultex’s new cash management system, with our Enterprise Agile approach being stated as a key differentiator.

Using the Enterprise Agile delivery approach, BJSS and Vaultex have collaborated to deliver the software for the new three-way balance cash management system. The solution encompasses high technical standards with 80% unit test coverage and a comprehensive automated regression test package, to ensure that any future development will not affect existing functionality.

In addition, BJSS has provided agile coaching to the Vaultex team, which has enabled them to become more efficient in their day-to-day business operations.