Commerzbank's “Videokasse” VTM (Video Teller Machine) project was awarded the Banking IT Innovation Award 2014 by CC Sourcing (Competence Center in the financial industry). The VTM of the bank which is the 2nd largest retail bank in Germany, is supplied by GRGBanking.
October 29, the competition was held at the Business Engineering Forums 2014 in the University of St. Gallen, Switzerland. The event featured fierce competition among 40 nominees of the same category and only four of them were awarded as the winners.
There are three VTMs operating in Commerzbank’s branch in Berlin and Stuttgart. The VTMs, which are online from 7:30am to 9:30pm on weekdays and from 8:30am to 9:30pm on weekends, extend the branches’ banking hours by 80%.
The Video Banking Solution from GRGBanking is a pioneering banking channel solution that leverages video conferencing technology to integrate the merits of self-service and teller service, providing full range of banking experience with smaller footprint.
With its versatile modular design, VTM enables migration of complex counter services and customized financial consulting services to the self-service terminal. Over 95% of counter services could be available on a VTM, thus it can be utilized for branch transformation or building teller-less branch, allowing customers to do almost all of their banking business via real-time video interaction and guidance of remote teller.
About the Competence Center “Sourcing in the Financial Industry” (CC Sourcing)
Founded in 2004, CC Sourcing is a cross-university research project which develops concepts and solutions together with current 18 partner companies that cover all roles of the financial value chain. An interdisciplinary research team, whose members are from the Institute of Information Management at the University of Leipzig, the Institute of Information Management at the University of St. Gallen and the Swiss Design Institute for Finance and Banking at the Zurich University of the Arts, creates innovative architectures and methods for future, IT-enabled concepts based on the Business Engineering approach that distinguishes strategies, processes and information systems as its main design layers.
About Commerzbank
Commerzbank is a leading bank in Germany and Poland. It is also present worldwide in all markets for its customers as a partner to the business world. With the business areas Private Customers, Mittelstandsbank, Corporates & Markets and Central & Eastern Europe, it offers its private and corporate clients as well as institutional investors the banking and capital market services they need. With some 1,200 branches, Commerzbank has one of the densest branch networks among German private banks. In total, Commerzbank boasts nearly 15 million private customers, as well as 1 million business and corporate clients. In 2012, it generated revenues of just under EUR 10 billion with approximately 56,000 employees on average.
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.