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Press Release

Oct 30, 2019

Cash Connect®, a Leading National Provider of ATM Vault Cash, Smart Safes, and Cash Logistics, Reaches Milestone Servicing Over 30,000 Devices

WILMINGTON, Del., Oct. 30, 2019 (GLOBE NEWSWIRE) -- Cash Connect, a division of WSFS Bank, recently surpassed a significant milestone in the number of cash devices it services in all 50 states to more than 30,000. Cash Connect is the longest standing and a leading national provider of ATM vault cash, smart safes, and cash logistics. The company specializes in offering and servicing several types of cash devices nationwide, including ATMs, smart safes, cash recyclers, and cash payment kiosks.

“For over 20 years, Cash Connect has innovated cash logistics, providing vault cash and armored carrier management to the ATM marketplace,” said Dominic C. Canuso, WSFS Executive Vice President, Chief Financial Officer, and executive leader of Cash Connect. “Through strategic investments in technology and automation, combined with a highly talented team, the company has in recent years expanded its remote cash capture program that gives business Customers the ease of depositing cash into an onsite Cash Connect-supported smart safe, and the peace of mind of having those funds available in their bank account safely and quickly.”

Cash Connect utilizes strategic partnerships and innovative cash devices to power its remote cash capture service that provides daily credit to business Customers’ bank account at any bank in the country.

“I am incredibly proud of our team for creating innovations in cash logistics that have helped our Customers around the country run their business more efficiently,” said John Clatworthy, Senior Vice President and Chief Customer and Strategy Officer, Cash Connect. “Starting from just 15 devices 21 years ago, and now passing this milestone was only possible because of our strong team who manage over $20 billion in cash transactions every year, and who are dedicated to offering high-quality and efficient Customer service.”

Launched in 1998 as an ATM vault cash and service provider for WSFS Bank-owned ATMs, Cash Connect expanded its services and solutions nationwide to independent ATM deployers and other financial institutions. The company’s services continued to broaden to include total cash management solutions for the ATM marketplace that streamlined back-office processes and optimized cash with armored carrier management, ATM maintenance, and cash forecasting.

About Cash Connect®
Cash Connect® is a premier provider of ATM vault cash, smart safe, and cash logistics services in the United States. Cash Connect® services approximately 30,300 non-bank ATMs and retail safes nationwide supplying or servicing over $1.1 billion in cash at September 30, 2019, and provides other fee-based services. Cash Connect® also operates 477 ATMs for WSFS Bank, which is one of the largest branded ATM networks in our market. For more information, visit www.cashconnect.com.

About WSFS Financial Corporation
WSFS Financial Corporation is a multi-billion dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest and largest locally-managed bank and trust company headquartered in Delaware and the Delaware Valley. As of September 30, 2019, WSFS Financial Corporation had $12.3 billion in assets on its balance sheet and $20.2 billion in assets under management and administration. WSFS operates from 127 offices located in Pennsylvania (56), Delaware (49), New Jersey (20), Virginia (1) and Nevada (1) and provides comprehensive financial services including commercial banking, retail banking, cash management and trust and wealth management. Other subsidiaries or divisions include Arrow Land Transfer, Beneficial Equipment Finance Corporation, Cash Connect®, Cypress Capital Management, LLC, NewLane Finance, Powdermill Financial Solutions, West Capital Management, WSFS Institutional Services, WSFS Mortgage, and WSFS Wealth Investments. Serving the greater Delaware Valley since 1832, WSFS Bank is one of the ten oldest banks in the United States continuously operating under the same name. For more information, please visit www.wsfsbank.com.

Media Contact: Jimmy A. Hernandez
(302) 571-5254
jhernandez@wsfsbank.com

 

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Source: WSFS Financial Corporation