Meet the McKinsey team helping banks get cash to people who need it

It’s the end of the work week in a small town in an emerging economy, and a local worker heads to the bank to withdraw money for the weekend. She’ll use it to buy food, clothing, and other goods for her family at a few local businesses, all of which only accept cash.

But when the worker gets there, the bank has no cash to give her. “This happens frequently throughout cash-based economies,” explains Dubai-based McKinsey business analyst Hamza Jawaid. “Only, it’s not a funding or financing problem. Fundamentally, it’s a logistical one—and we thought we could solve it.”

Hamza and his fellow business analyst Ibrahim Shami got that idea while they were working with a commercial bank in Pakistan, a cash-heavy economy, and saw an opportunity to help better manage its cash inventory. “We saw branch managers who were largely working off of gut instinct to plan for how much cash each branch and ATM needed at a time,” Hamza explains. “They had little visibility into their cash stock or how much was in transit at any point.”

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Meet the McKinsey team helping banks get cash to people who need it