GRG Banking announces solution to streamline cash handling

GRG Banking Equipment HK Co. Ltd., a subsidiary company of GRG Banking, has announced the availability of a new cash intelligence solution, which includes cash recycling systems H68N/H68NL, bulk cash deposit system P2801L and a new software platform.

According to a company release, GRG Banking’s end-to-end solution, which enables multiple manual processes to be automated, is aimed at optimizing the entire cash supply chain from front to back-office so that bank and retail employees will no longer come frequently into contact with cash.

At the core of the solution is an intelligent cash cassette, which is equipped with on-board smart chips. The memory chips store and carry a variety of information, such as how many notes are contained in the cassette, note currency or denomination and access history and error codes. As a result, these intelligent cassettes enable fast exchange of cash; for example, the cash taken from a retail store can be transferred directly to a nearby ATM, eliminating the need for taking cassettes to a CIT operator’s cash center and counting the cash there.

Software applications are also provided and controlled by a centralized cash cycle management base, which supports multi-institutional reports for dispute processing and account reconciliation.