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.
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About P5800
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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.
- 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.