by Brendan Burge on August 11, 2011
Over the years, I have found it interesting and informative to follow the adventures of new companies as they start to make a name for themselves. About a year ago I was introduced to a company out of China called GRG Banking. Although they are not “new” in the true sense of the word, they are new to those of us whose focus is mainly in the west.
Although they were first established in 1999, it wasn’t until 2010 that they came on the western radar as a serious contender in the international cash processing market. In 2010 they were awarded a very significant contract with a Bank in Turkey, which officially ended their exclusive activity in the Asian markets. GRG Banking is now spreading it’s influence on a global basis having established international presence in Africa, Europe, North America, Central America and South America. In recent years they have released facial recognition capabilities as well as intelligent cassette swapping functionality to answer the growing global demand for more automated cash recycling solutions.
Although I am still learning about this impressive vendor, I see them as a viable contender in what has before now been mostly a two horse race. Traditionally NCR and Diebold have dominated the global cash processing market. Wincor Nixdorf and a few others have vied for third place, but I think that the late comer could give them all a run for their money. This is definitely a company worth keeping your eye on, whether you are looking to expand your cash processing hardware fleet or just looking for a strong international investment to bolster your stressed western investment portfolio!
Brendan Burge is a career marketing and sales professional whose experience spans both currency supply chain management and radio and television broadcasting. For the past 14 years Brendan has focused on cultivating his experience in central bank, cash vault, retail banking and commercial/retail currency management. He has worked for both equipment and software solutions suppliers managing territories in North, Central and South America, Caribbean, Europe and Asia. His current areas of expertise include currency manufacturing, cash vault processing, supply chain yield management and process efficiency consulting. He currently manages the North American and Asian markets for Transoft International Incorporated, a leading global provider of cash forecasting and supply chain cost optimisation software solutions.