Commitment to support the UK’s Wholesale Cash Distribution (WCD) network: View the update

Vaultex Consulting Supports National Bank of Ukraine in Delivering its Cash Strategy

Vaultex Consulting recently signed an agreement with the National Bank of Ukraine (NBU) to support the NBU in delivering its cash strategy over the next several years.

Vaultex will offer their substantial expertise in cash management and provide the NBU with support in developing its delegated cash circulation model, based in the Strategy of Ukrainian Financial Sector Development 2025.

As one of the UKs leading cash processing companies, Vaultex will be working with the NBU in the following key areas:

  • creating uniformity of cash processing standards, rules, systems and frameworks
  • developing and implementing the delegation model of cash circulation drawing upon the UK experience
  • methods, practices and processes bringing significant reductions in the costs associated with the cash management cycle.​

The Memorandum was signed by Kyrylo Shevchenko, NBU Governor, and Phil Vaughan, Chief Executive Officer of Vaultex during an official visit by the Ukrainian President Volodymyr Zelenskyy and his delegation.

Vaultex CEO, Phil Vaughan, thanked NBU Governor Kyrylo Shevchenko for considering Vaultex as a potential partner contributing to the development of the cash strategy of Ukraine: “We look forward to building on the existing strong relationships between the cash experts within NBU and Vaultex“.

Kyrylo Shevchenko, NBU Governor, noted “I am grateful to Vaultex for the opportunity to gain expertise in management solutions for cash circulation and for the company`s intent to share its ideas with the central bank. I am certain that this knowledge will contribute greatly to the NBU’s expertise.”

This partnership marks another expansion in international consulting services for Vaultex in delivering transformational cash management projects.

To find out more about Vaultex Consulting visit our dedicated website here.

If you would like to discuss how we can help you with your specific cash challenges, please contact us here.