GRG Introduces Cash Recycling Technology to Largest Bank in Ecuador


GRGBanking announced the delivery and pilot, through local partner CardTech, of cash-recycling ATM H68N series to Banco Pichincha, the largest bank in Ecuador. It's the first cash-recycling ATM project of the bank and initial one of GRGBanking, one of the leading providers of currency recognition and cash processing solutions in the global market.


Prior to delivery in Ecuador, GRGBanking's H68N series accumulated a strong sales track record in China, Turkey, Vietnam and other regions. The Bank chose cash recycling technology, with aims to lower operational cost, reduce teller workload, develop new services and better its brand image.


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.


Mr. David Zhong, Project Director of America, said this was really an impressive success beyond the multi-parties and the international cooperation. “We see the bank’s very strategic business vision, the partner’s advanced end to end solution and project management, and also the technical team and the product’s excellent performance. All of those make it happen today. We believe that this kind of new technology will help the bank manage its heavy cash transaction at his biggest branch network, and will also bring to the banking industry an alternative solution for their upcoming branch revolution process.”


About Banco Pichincha

Banco Pichincha was legally established in 1906 and is supervised by the Superintendency of Banks and Insurance of Ecuador. Its mission is to be a leader that contributes to the development of Ecuador by supporting the financial needs of people, their institutions, and their enterprises. With a network of over 300 branches, Banco Pichincha has the largest presence of any bank in the country.


About CardTech Ecuatoriana, S.A.

CardTech Ecuatoriana, S.A. is a subsidiary of the CardTech Group which was established in 1998 and has operations in Venezuela, Colombia and Ecuador. CardTech is dedicated to the development and business of products, solutions and services related to payment methods for telecommunication companies and financial institutions.


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.


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