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Electric Vehicle CIT in Latin America

Protecting Cash in Latin America.

Within the last decade a very important regional bank in Central America introduced IBNS (intelligent banknote neutralisation system) into Latin America as a security measure to protect cash from theft. Ink staining banknotes is a globally recognised deterrent to prevent future attacks on cash-in-transit crews and banks by instantly making the cash worthless when stained. Forza Cash Logistics, a forward-thinking cash logistics company operating in Central America with 25 years’ experience, were early adopters of protecting banknotes with intelligent ink stain across the region, safeguarding their team. They helped in promoting the message that an ink-stained banknote indicates it has been obtained illegally and has no monetary value, and therefore will not be accepted by banks.

Traditional Armoured Cash-In-Transit.

Traditionally, armoured vehicles offer cash protection when CIT crews travel to replenish ATMs and collect cash from retail outlets, restaurants, service boxes and deposit boxes. Some of the largest costs involved running a cash-in-transit fleet are the purchasing and maintaining of a number of armoured vehicles for cash protection. Forza Cash Logistics believed there was a better, more efficient, and (importantly) more sustainable way to transport cash.

Electric Cash-In-Transit.

Forza Cash Logistics faced a crossroads. Their fleet of armoured vehicles were at a stage of life where they needed to begin replacing some of them, but having started working with Secure Innovation and the world renowned ibox, Forza started to see an alternative solution. The ibox is designed to protect cash in transit teams without the need for armoured trucks or armed guards. The intelligent secure cash box removes any reward for potential criminals, therefore reducing the risk of attack and offers across-the-pavement protection for cash.

Its common practice for the Secure Innovation team to install the ibox rack into a soft-skin cash-in-transit vehicle, especially across Europe. This unique system can be fitted to any size vehicle and holds anything from 2 to 60 iboxes and integrates with any existing vehicle security system, locking in all types of ibox.

Forza could see an opportunity here to take the next step to a more environmentally friendly business model by introducing electric CIT vehicles to their fleet. By embracing Secure Innovation’s fully autonomous stand-alone ibox rack system, they could offer end-to-end cash protection with no compromise. The ibox rack uses its own independent power source to control the security system, making it an ideal solution for an electric vehicle because it will not reduce the EV’s range. The ibox and ibox rack system is also a lightweight security solution, therefore the additional weight does not affect the power of the electric vehicle.

Electric Vehicle CIT Pilot.

The first electric CIT vehicle in Latin America was rolled out by Forza Cash Logistics in 2022 using Secure Innovation’s intelligent cash protection solutions. The electric CIT vehicle pilot was so efficient and positively adopted by the team, Forza quickly migrated their whole fleet in the region to electric CIT vehicles with ibox within a year. The system not only allowed them to reduce their carbon footprint, but also lowered their running costs by scaling down their 2 to 3 person crews, to a single one-person crew per vehicle.

The next step of the journey for the progressive Forza Cash Logistics is to expand the electric vehicle CIT operation into other Latin American countries.

“Faithful to our value of innovation that inspires us, using IBNS and electric vehicles made our operation more efficient and safer for us, customers and associates, while also reducing our carbon footprint, we contribute to the conservation of the environment”.

Mirko Dominguez | Costa Rica Country Manager | Forza Cash Logistics, Passion for Excellence!!

Benefits of Electric Vehicle CIT:

Tried, tested, and proven around the world, electric cash-in-transit vehicles supported by Secure Innovation are successfully delivering cash all over central Europe and Latin America.

  • Does not reduce EV’s driving range.
  • Simple & easy to use, with a visual display on ibox rack for clear operation.
  • Compatible with existing vehicle security systems.
  • Black box monitors and records over 2,000 events.
  • Value for money, saving set-up and operating CIT costs.
  • Reduced crew size, from 2-3 person crew down to 1 person.
ibox Cash Secure Innovation Box for CIT Protection