SCTA Member Spotlight: Dave Erchull, Global Risk Evaluations (GREvL)

MEMBER SPOTLIGHT

DAVE ERCHULL
Director
Global Risk Evaluations (GREvL)

We are proud to feature the latest in our monthly member spotlight series. The series highlights SCTA members and their contributions to the cash industry. This month, we interviewed Dave Erchull, Director for Global Risk Evaluations (GREvL).

Q: How does Global Risk Evaluations support the needs of the cash industry?

A: We provide consulting services to the cash industry and perform operational risk assessments, usually on behalf of insurance underwriters.

Q: What are the biggest changes you expect in the future of the cash industry?

A: As other forms of payment gain acceptance and become ever more secure, it will become easier to eliminate small denomination coins and notes as a matter of efficiency and cost, and larger denomination notes to combat fraud, money laundering and counterfeiting. I can foresee a moment when transactions over a certain amount will only be done electronically; no checks, no cash.

Q: What is an exciting development in the industry you’ve recently seen. What excites you about it?

A: Two things: the advancement of “legal tender” initiatives, mostly in western states, and the development of cryptocurrencies. Neither of these will fully displace fiat currencies, but cash handlers may need to prepare to handle gold, silver and platinum or a flash drive containing cryptocurrency account details in addition to coins and notes.

Q: What are the biggest challenges the cash industry will face in the next 1-3 years? Why?

A: Just as banks got out of cash processing and vaulting, they are now getting away from providing safe deposit boxes. Private safe deposit boxes and depositories are gaining stature. CIT companies are in an excellent position (in terms of infrastructure) to become big players in this area, but they need to start planning now if they don’t want to be left behind.

Q: What drew you to become an SCTA member?

A: I appreciate that the SCTA pulls together all aspects of the cash industry, from street operations to regulatory oversight.

Q: What is the one thing you want other SCTA member organizations to know about your company?

A: Although we often enter a business at the request of insurers, we strive to ensure that the approach is not adversarial, but rather a “value added” proposition. This approach is as much a service to the business as to the insurer we represent.

To learn more about Global Risk Evaluations, visit www.grevl.com.

Interested in having your business featured in our monthly spotlight? Contact Michael Gaul mgaul@securetransportassociation.org