Financial News, an authoritative media of financial industry in China, released the report of Chinese ATM Market Overview 2012 on March 12. According to the report, GRGBanking’s sales volume soars to 20,170 units and takes up 20.1% of the Chinese market share, ranking No.1 for the 5th consecutive year.
The report points out that China ATM market had a fast growth in 2012 and is going to maintain a high growing rate in the next 3 to 5 years. It is expected that China will surpass US to be the world’s No. 1 ATM market.
In 2012 about 60,800 units of cash recycling machine have been purchased by major banks in China, accounting for 60.38% (47.31% in 2011) of the whole purchasing volume, said Financial News. The number shows cash recycling machine has become the mainstream of the market. The impressive achievement of GRGBanking is believed to be credited to its own (cash processing) technology.
The report also indicates that financial managed service sector is proven to help banks to lower operational cost and risk, and therefore enhance effectiveness and core competitiveness in the long term. However the managed service sector lacks mature management system and sufficient standards and guidelines, and therefore the qualification, capability of resource integration and quality management and other factors become the substantial constraints.
Among the financial managed service industry in China, GRG Suitong is the first company that established management standard and passed ISO 9001:2008 Certification.
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.
About GRG Suitong
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%).
News Media Contact: Benny Huang