GRG Talks Total Cost of Ownership at ICCOS EMEA 2014


24th-26th February, GRGBanking participated in ICCOS (International Commercial Cash Operations Seminar) EMEA 2014 in Istanbul, Turkey. More than 248 delegates from 29 countries attended the event.


In the event, GRGBanking showcased its Banknote Sorting Machine (CM400,CM200V,CM100V) and Cash Recycler (H68NL), which improve the cash processing efficiency and provide intelligent cash management services to Banks, CITs and Retails.



On the 3rd day, GRGBanking held a breakout meeting in Room Zurich and attracted 46 delegates to join. In the meeting, Mr. Hakan Soylu, General Manager of GRGBanking’s Turkey subsidiary, introduced GRGBanking’s innovative cash management solution in the cash cycle, including intelligent retail cash collection solution, recycling solution for ATM operating as well as cash sorting solution for CITs.


According to Soylu, the ATM total cost of ownership generally includes infrastructure cost, service cost and cash handling cost. Cash handling cost accounts for 40% of ATM operational cost in average. Through GRG’s recycler, ATM operational cost can be reduced by minimizing the idle cash and cash replenishment frequency. While for the cash center or back office of bank, cash handling cost can be reduced with GRG’s sorting machines, which can improve cash processing speed and accuracy.


In the meeting, Soylu also introduced successful cases in Turkey. According to an analysis of BNA and recycler technology, GRGBanking’s recyclers reduced idle cash in the machine by 36.9% and extended the days of transaction between replenishments by 96.3%.


The H68N series are cutting-edge cash recyclers, which shift heavy counter transactions to self-service and reduce cash replenishment frequency. With high capacity, Serial Number Tracking technology, biometric authentication and coin dispensing features, they are capable of supporting big volume transactions, delivering advanced and reliable service to customers, and extending banking channel and value-added service for different scenarios.


GRG’s new sorting machine series (CM100V, CM200V, CM400) with cutting-edge banknote detection technology, which can dedicate the note by fitness level and also identify counterfeit note. By utilizing CIS (Contact Image Scan) and OCR (Optical Character Recognition) technology, images of both sides of the banknote as well as the serial number can be captured and recorded when every banknote is counted or sorted, which are able to provide effective proof to banks and CITs.


About GRGBanking

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

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