GRG's VTM debuts in Commerzbank, Germany's 2nd largest retail bank

December 6^th, Commerzbank AG revealed its new branch strategy and opened the first completely renewed branch in Berlin, Germany. The innovative concept increases the availability of professional financial advice and bank counter service. Opening hours of the branch are extended by 80 percent. The 24/7 self-service center is equipped with the first Video Teller Machine (VTM, German: Videokasse) in German banks. Video-based counter service is now available even during weekends in the new branch (location: Berlin, Uhlandstraße).

GRGBanking’s VTM is an innovative solution, enabling remote transactions which were only available at branch counters before. Via a real-time collaboration technology, the remote teller assists customers through video and co-browsing. Customers can use the VTM even without a card. Monika Hermes, Project Leader of Commerzbank AG, mentioned that the VTM will become an important additional channel to get in touch with the customers and it will be an added value for customers that they can do branch transactions outside the standard business hours in the evening or at the weekend. She added: “Customers will love the outstanding design and the innovative way of communication.”

GRGBanking’s VTM is pioneering a banking channel solution that uses state-of-the-art video conferencing technology to combine the benefits of self-service and counter service, providing excellent banking experience with smaller footprint. In difference to traditional self-service terminals, the customer interacts with the VTM agent in direct and personal way. The experience is similar to the face-to-face transaction with a teller in traditional bank branch. Different modules and functions are integrated into this machine: cash deposit, cash withdrawal, money exchange, cheque and document scanning, ID card reading and digital signature input.

According to Hendrik Eckholt, General Manager of GRG Deutschland GmbH and Project Manager of GRGBanking, this VTM project demonstrates the efficiency and flexibility of the largest ATM manufacturer in China. Within only three months Eckholt and his team developed a complete, customized product for Commerzbank AG together with GRGBanking’s software partner LM Software GmbH. “Customer orientation is the key success factor in very fast changing markets. You can only succeed as a team player”, said Eckholt and added: “The competition is fierce and we are proud of winning that opportunity beyond some top players in the industry worldwide.” GRGBanking’s authorized service partner Cegelec Deutschland GmbH, a company of  VINCI Energies, will help to recover the machine within only 4 hours in any case and guarantee to meet the high availability requirements of Commerzbank AG.

Besides the modern design, Commerzbank AG was convinced by the smart concept to integrate the VTM in the established bank infrastructure. The VTM is internally connected as teller operated machine on top of the teller machine software. Robert Höpfner, CEO of LM Software GmbH, said: “That gave us the possibility to install the VTM in a very short timeframe.” Nevertheless LM Software GmbH delivers a complete system for operating, controlling and monitoring all devices in the VTM. Schmidt, IT project manager of Commerzbank, stated: “We are very satisfied with the professional support. The combination of LM Software and GRGBanking is a perfect match.”

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.

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.