Stanbic IBTC Launches GRGBanking’s Recycling Solution to Optimize Customer Servi

14th Oct. 2015, GRGBanking’s cash recycling solution P5800  has been put on-line at Stanbic IBTC Bank (Martins Street, Lagos  branch), which is one of the top banks in Africa. A brief ceremony was  held and the bank’s senior management and representatives of the vendor  and supplier attended.

On  the ceremony, Mr. Obinnia Abajue, Executive Director of the bank  introduced that the launching of P5800 will herald a marked improvement  in cash related service and experience for Stanbic IBTC’s customers  through shortening service turnaround time (TAT), reducing queues,  service outages while extending service delivery hours to 7*24.


In  a statement by Managing Director of Avanage (GRG’s local partner), Mr.  Olumide Bajomo, “Stanbic IBTC has launched the Automated Cash Deposit  service accepting the largest naira denominations i.e. N1,000 and N500  while lower denomination naira banknotes such as the N200 and N100 will  be enabled based on customer demand and with no limit to the number of  deposit transactions that can be done on a daily basis into each  customer account, this is projected to satisfy the needs of most  consumers and customers within the MSME segment.”


He  added that GRGBanking's solutions offer superior security and the  ability to properly recognize naira notes with the capability to  differentiate between counterfeit and authentic notes. The machine comes  with special security features that protect the bank and its customers  during and after use. “This is in addition to its superior reliability”,  he said.


According  to Bajomo, one way to measure the machine’s reliability is to track the  number of times in a week, month or a year that the machine has  experienced a fault or breakdown. Stanbic IBTC's experience has  confirmed that “GRGBanking machines standout in this aspect”.


Besides,  he said, the solutions offer superior cost effectiveness. With the  largest ATM manufacturing center in AP, coupled with the high quality  and reliability of its products, GRGBanking offers superior return on  investment (ROI) for cash operations transformation thereby positively  impacting the bank's profitability.  



About Stanbic IBTC Bank

Stanbic  IBTC Bank is a major financial service provider engaged in personal  banking, business banking, credit cards, corporate banking, non-interest  banking and wealth and investment banking in Nigeria. Stanbic IBTC Bank  is a member of Standard Bank Group. Standard Bank Group is the largest  African bank by assets, operates in 20 countries on the African  continent.

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.


About P5800

Featured  with fast processing speed and big capacity of bulk cash recycling  capability, P5800 is the ideal and customized solution for financial  institutions and retailers with financial-oriented and teller assisted  service needs, such as:
- Teller assisted front desk service or cash sorting in branch back office or cash center.
- Deposit automation in retail back offices, such as supermarkets, stores and gas stations, etc.
- Currency exchange, utility payment and other value-added service in high cash transaction places.