Al Rajhi Bank Chooses P2801L to Further Optimize Cash Collection in Saudi Arabia

RIYADH, SAUDI ARABIA, Jan 16, 2015 - GRGBanking, a leading provider of currency recognition and cash processing solutions, announced that Al Rajhi Bank had continued to team up with Hemaia Group, a leading local cash-in-transit company, on the new round of purchasing GRG intelligent cash deposit machines P2801L to optimize cash collection in retail industry of Saudi Arabia and the Middle East region.

 

Prior to the order, the bank had started co-operating with GRGBanking and Hemaia Group in 2013 to implement Phrase I of Cash Deposit Machines (LOCK BOX) project with P2801L in over 16 companies of various retail business in the region. According to the bank, the machines in Phrase I greatly reduced fund risk during the whole cash collection process.

 

P2801L is specially configured with a fingerprint authentication module to enhance its security and convenience in the project.

 

Top managements and representatives from Al Rajhi Bank, Hemaia Group and GRGBanking attended the opening ceremony of Phrase II of Cash Deposit Machines (LOCK BOX) project on November 13, 2014 and exchanged views on the project. Attendees show satisfaction to Phrase I of the project, commended the benefits of P2801L including less cash handling time for the user, streamlined cash collection process for the bank and CIT, and also the greater security it provided.

 

P2800 series is high speed and large capacity cash deposit machines with state-of-the-art technologies like banknote validation, serial number tracking, etc. It is the ideal solution for retail back office deposit, bank branch teller automation and CIT resource optimization.

 

 

About Al Rajhi Bank

Founded in 1957, Al Rajhi Bank is one of the largest Islamic banks in the world with total assets of over SR 288 billion (US$ 76.8 bn), a paid up capital of over US$4.3 billion and an employee base of over 8,400 associates. With over 50 years of experience in banking and trading activities, the various individual establishments under the Al Rajhi name were merged into the umbrella 'Al Rajhi trading and exchange corporation' in 1978 and it was in 1988 that the bank was established as a Saudi share holding company. Deeply rooted in Islamic banking principles, the Sharia compliant banking group is instrumental in bridging the gap between modern financial demands and intrinsic values, whilst spearheading numerous industry standards and development.

 

With an established base in Riyadh, Saudi Arabia, Al Rajhi Bank has a vast network of over 500 branches, over 100 dedicated ladies branches, more than 3,600 ATM and 28,000 POS terminals installed with merchants and the largest customer base of any bank in the Kingdom, in addition to 130 remittance centers across the kingdom. The first men's branch was opened in Aldirah in 1957, with the first ladies’ branch opened in AlShmaisi in 1979.

 

About Hemaia Group

Established in 1996 in the eastern province of Saudi Arabia as a “Support Services Company” providing security staffs and support staffs to cater the daily needs of both financial and private institutions in the Kingdom. In 1991 it obtained Ministry of Interior license to move/transfer cash Kingdom wide.

Currently as one of the leading providers of secure transportation, cash management and ATM replenishment services, Hemaia has been delivering these services in full fledge since 2001. The company is a full-service provider of secure logistics solutions utilizing the advanced technology, equipment and communications systems to provide end-to-end cash management.

Hemaia Group is GRG’s partner for Saudi Arabia to provide the state-of-the-art products manufactured and marketed by GRG.

 

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.

Headquartered in Guangzhou, GRG is the No. 1 ATM supplier in China and a top 6 player in the global market. GRG’s products and solutions are widely used in over 70 countries and regions worldwide, with over 110,000 machines providing reliability, security and convenience to over 10 million people on a daily basis.