HSBC is introducing its iCash AI withdrawal forecasting tool for the ATM industry.

The tool, developed inhouse at HSBC, uses live ATM data and predictive machine-learning algorithms to factor in seasonality, holidays, public events, location and recent withdrawal trends to calculate how much is needed to refill what machine and when, according to a Finextra report.

The iCash dashboard visualizes live withdrawal patterns, enabling the bank's treasury team to respond more precisely to demand while also reducing lead times on cash replenishment deliveries from up to 36 hours down to 15 minutes.

When the tool is used, it can offer up to a 15 % reduction in refill trips to supply ATMs with additional cash, Chris Trill, global head of wealth and personal banking operation for HSBC said. With iCash AI, Till said the U.S. can save $1 million a year in third-party deliveries.

"iCash is a game-changing digital solution that improves the customer experience, while unlocking both man-hour and vendor savings," Trill said in the report. "It also reduces the risk of robbery by moving away from scheduled cash deliveries."

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