Patent ID: 8657187

Claim:
A computer implemented method for transferring cash with a particular branch bank, the method including the steps of: inputting first data relating to cash usage at a plurality of branch banks; inputting second data relating to cash usage at the particular branch bank, the second data including a known ending balance at the particular branch bank; assimilating the first data and the second data to constitute forecasting data; performing forecast processing to determine an amount of cash to be transferred to or from the particular branch bank, the forecast processing including: forecasting a cash in amount and forecasting a cash out amount based on the forecasting data, and generating a projected ending balance based on the forecasted cash in amount, the forecasted cash out amount, and the known ending balance; generating a forecasted ending balance based at least in part on historical data associated with the particular branch bank; and comparing the projected ending balance with the forecasted ending balance to determine a cash shipment amount; generating a cash transfer request based on the cash shipment amount; generating a request for bid to a plurality of cash transport vendors determined to be potentially available to satisfy the cash transfer request wherein the request for bid comprises one or more parameters for the requested transfer, the one or more parameters including at least an amount of cash being transferred; determining an optimum cash transport vendor based at least in part on the following: one or more bid responses to the request for bid, the amount of cash being transferred, geographical information regarding the proximity of entities to each other and time-line related information; determining an anticipated route for a transfer of cash for the optimum cash transport vendor; effecting the transfer of cash with the branch bank based on the cash transfer request using the anticipated route; monitoring the transfer of cash using a global positioning device; generating an alert when the optimum cash transport vendor diverges from the anticipated route; comparing forecasted data with actual amounts form the particular branch bank; and adjusting the forecasting processing based at least in part on the step of comparing with actual amounts.