LATEST NEWS: Loomis tackles bank closures head-on with the launch of SafePoint Compact

Loomis UK is delighted to announce the launch of its newest smart safe product, SafePoint Compact.

SafePoint Compact is a state-of-the-art technological development with an attractive price-point designed specifically for small to medium sized enterprises.

With banks around the UK continuing to close high street branches, now more than ever, SMEs need a safe and secure way to store cash takings and pay them into their business accounts.

Approximately 220 banks have already been identified as closing over the next 12 months and this will leave many businesses with no option of banking their cash takings locally. Many will have to travel much further to find a way to deposit takings and with cash takings expected to rise, this will leave many small to medium sized retail and leisure businesses with a real problem.

Loomis has launched SafePoint Compact at just the right time to provide a solution.

SafePoint Compact is a safe unit that is small enough to fit under a counter at Point of Sale, or snuggly in a back office. Not only does the unit indemnify cash takings of up to £10,000, it also has intelligent technology that is able to check fraudulent notes and provide 24/7 visibility of deposited sums. The weekly price of the SafePoint Compact unit includes regular cash emptying and collection. Dynamic scheduling of collection services is also available.

The SafePoint Compact holds up to 1,200 banknotes, reducing shrinkage and the need for inconvenient, lengthy trips to the nearest bank, which could now be many miles away, to deposit takings.

Benefits of the SafePoint Compact include: 

• Cost-efficient 
• Contents Indemnified to £10k
• Saves employee time and risk
• Reduced shrinkage
• 24hour cash holding visibility 
• Dynamic scheduling

Commenting on Loomis’ most recent product launch, Marketing Manager, Nicky Severn said: “Banks are closing fast and although there are plans in progress to set up banking hubs across the country, these are currently very few and far between. Many of the SMEs that will be left with nowhere to bank their takings will be local independents and it is more important than ever to support these businesses and ensure they are not penalised for accepting cash.

Our new smart safe is the perfect solution for businesses such as these. As well as being cost-efficient, it can save retailers money and also the inconvenience of seeking out banking facilities and travelling many miles, often on a daily basis, to deposit their takings.”

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About Loomis

Loomis offers safe and effective comprehensive solutions for the distribution, handling, storage and recycling of cash and other valuables. Loomis customers are banks, retailers and other companies. Loomis operates through an international network of more than 400 branches in more than 20 countries. Loomis employs around 25,000 people and had revenue in 2018 of SEK 19.2 billion. Loomis is listed on Nasdaq Stockholm Large-Cap list.

This information is information that Loomis AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 8.00 a.m. CEST on July 25th, 2019.