Birthplace of Secure Cash Vaults, Garda Still Sets The Pace

August 2, 2011

What do championship race horses, the birth of the out-sourcing of secure cash vaults in America, and Garda Cash Logistics have in common? Surprisingly, more than one might think.


In the mid-1970s, Brooks Armored Car Company of Delaware, which was later acquired by AT Systems, Inc. and ultimately by Garda in 2007, created the industry’s first outsourced cash vault services in the United States. At the time, the Federal Reserve of Philadelphia was sending cash to some remote Delaware banks’ branches via the Postal Service, whose rates were extremely high for insuring the cash.

As an alternative to that costly approach, Brooks began to perform limited money room activities for the branches of a number of Delaware banks including Wilmington Trust Company, The Bank of Delaware, and Delaware Trust and Farmers.


Money room processing, as cash vaults were called then, was, and today often still is, a dirty and labor intensive operation involving cumbersome manual reporting processes. Serendipitously however, Brooks also owned Pacesetters Inc., a company that compiled and published performance records for race horses. Armed with the computer programming know-how gained from the horse racing business, Brooks made a compelling business pitch to Fidelity Bank of Philadelphia to completely fulfill their cash vault processing work by automating the process.

Fidelity Bank was convinced of the business rationale for outsourcing cash vault processing and this transition was an industry first. Other banks in the Philadelphia Federal Reserve District including Continental Bank, Provident National Bank, Girard Bank, Central Penn National Bank, Mellon/PSFS, and eventually First Pennsylvania Bank and The Philadelphia National Bank watched with great interest. Witnessing Fidelity’s out-sourcing success, they soon began outsourcing their cash vaults and thus was born the secure cash vault processing business in America.


Fast forward twenty years and Garda is still setting the pace for the cash vault processing industry in North America with its cash vault/money room operations, now called Secure Transaction Processing Centers. And the company is doing it with many of the knowledgeable veteran experts who got it all started in Pennsylvania. Today they are joined by many new innovators and experts from leading retail and financial institutions in North America.

Garda has distinguished itself as the “Go To” Secure Transaction Processing partner for America’s most sophisticated financial institutions that are increasingly looking for secure and smart alternatives for moving money and out-sourcing cash transaction processing. Garda’ is the only cash logistics company with a dedicated Financial Institutions Group (‘FIG’) staffed by industry’s preeminent experts focused on catering to the needs of the most sophisticated clients’ and setting the strategic direction for the marketplace. The company is expanding and enhancing its transaction processing capabilities in direct response to what our FIG clients are telling us they need – a business partner that takes the time to really understand their business and plans and performs with the highest professional standards just like they do. We understand clearly that our coast-to-coast network of Virtual Secure Transaction Processing Centers are an extension of our FIG clients’ secure money processing capabilities and we continually strive to keep earning the trust they place in us.


Garda is continuing to invest in the people, systems and processes that position it to be the gold standard for outsourced transaction processing. Our industry leadership is built on a commitment to risk mitigation through continual reinvestment in systems, best-in-class national compliance and operating standards and procedures, dedication to excellent customer service and knowledgeable product experts.

Like its forbearer Brooks Armored Car Company, Garda is ever alert to discover what will be the next game-changing development in transaction processing. Stay tuned because you can be sure Garda Cash Logistics will be driving it to enhance its position as the premier provider of secure transaction processing for America’s leading financial institutions.