How GRGBanking Open the Global Market by spirit of craftsmanship?

In December 2011, the whole series of ATMs of GRGBanking have passed the security assessment and all functional tests (2,200 tests) required by Die Deutsche Kreditwirtschaft and obtained the ATM security quality certification of the German market. In 2013, GRGBanking defeated the world famous ATM manufacturer – NCR in Germany and won an exclusive order from Commerzbank AG to get the first VTM debuted in Germany. “If you say 'made in China' in 2002, the customers may always think the product is of low quality, low cost and knockoff. However after a decade, Chinese ATM intelligent manufacturing enterprises, GRGBanking, which bring ATMs to the European market and to make their products and services available in 1200 banks in more than 80 countries.” said Mark Yip, Managing Director of GRGBanking.

But how?

In the afternoon of April 18, skillful young men and women were assembling machines, binding tapes, screwing bolts and dotting. Workers under piece-rate system are busy but they work orderly. To become the No. 1 provider of China and top 5 provider of the world of financial intelligent equipment, GRGBanking owns not only these workers in the streamlines, but also the "No Photo" part in the glass house and years of development in laboratories. In 2005, the banknote recognition module independently developed by GRGBanking was qualified by the appraisal committee of the Ministry of Industry and Information Technology of the PRC, breaking the situation of monopoly of banknote recognition technology by foreign countries.

Liang Tiancai who has participated in the development of "Chinese ATM Core" says this development has lasted for 5 years from initiation to realization. When participating in this project, he knew that this is a world-class project, because only 4 enterprises from Germany and Japan mastered this technology at that time. If this project succeeds, China would be the third country mastering this technology and the research team comprising forty to fifty members was heading for this goal.

“In 1999, we were very weak. But if we had not overcome this difficulty, we could not see the future and even we could not be further developed or listed", said Mark Yip, Managing Director of GRGBanking. In a meeting, somebody put forward that this technology may be too difficult for us to develop. However, we finally invest much in this development. Facts prove that, with the consideration of financial security, domestic ATMs are more advantageous in the market. The share of GRGBanking in the domestic market has currently reached 27.85%.

Apart from the pressure from development of new technologies, technicians are also bear pressure from appearance of new counterfeit notes in the market. "We stay overnight almost every day," said Liang Tiancai. Their laboratory has now become a key currency recognition laboratory in Guangdong Province. Once counterfeit notes are found in the market, the Central Bank will communicate with enterprises and see whether equipment can correctly recognize counterfeit notes. The test and upgrade must be completed within one week. Equipment must be tested again after upgrade to avoid robbing Peter to pay Paul. "Anti-counterfeiting is a process of game. We have dozens of technicians specialized in analysis of security features." After that, the researchers began to enhance research of genuine notes to change from defense to attack. Last year, there were lots of fake HK$ 1,000 notes around. Without any information about these fake notes, the algorithm of GRGBanking passed the test of HK Police. By now, the products of GRGBanking have been certified by European Central Bank and also central banks in other countries. Each year, European Central Bank will dispatch personnel to GRGBanking. Such personnel will spend 10-15 days certifying and testing ATMs there. Products passing such test can enter the European market.

In 2013, the high-speed note recognition and processing technology independently developed by GRGBanking passed the scientific achievement appraisal of the Ministry of Industry and Information Technology of the PRC and reached international advanced level. "Notes are very thin. When transported fast, notes are easy to go off the way or be torn. We must ensure integrity of notes, without tearing or damage." says Liang Tiancai, "The advantage of research in enterprises is that virtuous cycle will be formed: customers may provide feedbacks and we can research each feedback."

In the exhibition hall in GRGBanking, VTM which represents product innovation is displayed in a prominent position. Through ID card reading or fingerprint or face recognition, a user can be identified by the machine and then communicate with the bank clerk remotely. "Face recognition" is in fact a relatively low-level technology of biometric authentication. Some banks may authenticate identities by means of voiceprint, vein or iris recognition. Liang Tiancai says, "We have mastered these technologies and we must make advance preparation for technologies.

Mark Yip expressed that "The share of GRGBanking in emerging industries depends on our preliminary preparation." In 2011, the company was aware of the transformation demand of banking outlet. But there were internal divisions on whether to perform the transformation. As Internet payment prevails, will cash disappear in the future? Will ATM mainly based on cash be challenged? Mark Yip says developers of the company in fact have been engaged in the research of block chain for around three years. He states "We will release information about this technology little by little." The annual average development investment of the company accounts for around 7% of the operating revenue.