Standard Chartered Bank (Hong Kong), the subsidiary of Standard Chartered, a world-leading international banking group, has debuted its “Digital Teller” intelligent service in its Exchange Square Branch in Hong Kong.
The “Digital Teller”, or called Video Teller Machine (VTM) were developed and supplied by GRGBanking, which is estimated as dominating over 50% of the VTM market in China. GRG’s video banking solution has also been applied in Commerzbank in Germany and Kuveyt Turk Participation Bank in Turkey, as well as a lot of top-tier Chinese banks.
The 3 VTMs in the tellerless branch provide digitized counter transaction experience assisted by remote tellers, covering over 70% traditional counter services including cash deposit/withdrawal, check deposit and support 5 kinds of currencies.
General Manager, Digital Banking of the bank, Theodore Mak, said the rating during the 6-month pilot was very positive (8.8 points at average by total 10 points), especially on processing time and convenience, and the customers were believed to benefit from the extended branch hours.
According to Mak, thanks to no space required for cash vault and teller, the operation efficiency is enhanced and rental cost is reduced. Therefore more space has been reserved for the branch, which gives the bank more flexibility to expand its network. There is possibility that the solution will be applied to other branches of the bank.
According to GRGBanking, VTM I60 is a pioneering banking channel solution that leverages video conferencing technology to integrate the merits of self-service and counter service, providing full range 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 are available on VTM I60, thus it can be utilized for branch transformation or teller-less branch, allowing customers to do almost all of their banking business via real-time video interaction and guidance of remote teller.
In 2013, GRGBanking participated in the competition of Asia Pacific Information and Communication Technology Alliance Awards (APICTA) 2013 with its VTM Solution and took the prize of the Financial Industry Application Award.
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 specializes 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.