Financial News, an authoritative media of financial industry in China, released the report of Chinese ATM Market Overview 2011 on March 19, 2012, with statistics of current market share and thorough analysis on the future trend.
According to the report, GRGBanking’s sales volume soars to 17,500 and takes up 23.33% of the Chinese market share, ranking No.1 for the 4th consecutive year.
As one of the most emerging ATM markets, China has become the second largest one in the world. Its number of ATM reaches 369,000 units, increased by 23% in 2011. According to the sales volume statistics, the top five ATM suppliers are: GRGBanking, Hitachi, NCR, YH, and Diebold. The top 3 remains the same since 2008, while traditional tycoons such as NCR and Diebold are declining in shares due to the lack of cash recycler’s core technology. Competition still intensifies as the top five companies take up 70% of the total sales volume.
Source: Financial News, March 2012
The report also points out the rising need for safety and innovation in the financial industry. Such trend inevitably urges ATM industry to enhance the security level of its equipments and software, as well as the convenience of costumer experience.
Taking security, convenience, effectiveness, customer experience and cost into account, banks continue to increase their procurement of cash recycler to 37,000 during 2011, over 50% of the total number of ATM purchased. The cash recycler core technology helps ATM suppliers expand their market share. Among them, GRGBanking performs outstanding achievement in both domestic and international market. Its cash recycler contracts with Turkish Ziraat Bank are the largest ever within Europe and America in 2011.
The report also indicates financial outsourcing service sector is proven to help banks to lower operational cost and risk, and therefore enhance effectiveness and core competitiveness.
GRG Suitong Banking Service Co., Ltd, a subsidiary of GRGBanking, is the first comprehensive ATM outsourcing service company in China. Founded in 2008, GRG Suitong Banking Service has established a successful operation model that emphasizes technology and safety. It has launched regional cooperation with Industrial and Commercial Bank of China, Bank of China, China Merchant Bank, Shanghai Pudong Development Bank and Citibank. The company provides outsourcing services that help to reduce the overall operation cost of the banks by 15% (international average rate is 10%).
GRGBanking is a leading provider of currency recognition and cash processing solutions in the global market with great potential and rapid development. GRG specialize in the development/ manufacturing of Automatic Teller Machine (ATM) for financial institutions and retailers, Automatic Fare Collection (AFC) devices for railway or underground systems, as well as other currency recognition and cash processing equipment, modules and systems for over 20 years. Besides, GRG’s various Multi-Channel Software Solutions and Services cover the needs of the financial industry, retail, transportation, payment, self-service, cash automation, cash management outsourcing and managed services, customized for different customers around the world.
News Media Contact: Benny Huang