GRGBanking joined International Myanmar ICT (Information & Communication Technology) Exhibition 2014 with its local partner MIT in November 7-9, in Tatmadaw Exhibition Hall, Yangon, Myanmar. The exhibition aims to be a springboard to materialize the country’s digital development opportunities through providing a platform for the knowledge and technologies exchanges.
GRGBanking showcased its intelligent cash recycler H68N series and banknote sorting machine CM400 on the exhibition and its booth was surrounded by visitors watching demonstration of high-speed cash deposit, outstanding SeNT (Series Number Tracking) and intelligent banknote sorting functions with local currency Myanmar Kyat.
Above: U Myat Hein (Left), Minister of Communications and Information Technology of Myanmar attended the event and showed interests on GRG banknote sorting machine CM400.
According to the World Bank’s statistics, at the end of 2012, there are only 0.09 units of ATMs per 10,000 residents in Myanmar. However this situation has changed, since that GRGBanking partnered with MIT to build Myanmar's first national financial switching, as well as, bankcard and payment card systems named Myanmar Payment Union (MPU). With the economic development in recent years, right now there are more than 1,000 units of ATMs has been put on-line.
"Myanmar is an important market to GRGBanking and we have been highly engaging in the country's national banking industry development", said Bobby Lee, Regional Project Director for Asia Pacific, GRGBanking. ”We saw great potential in Myanmar and we are dedicated to help Financial Institutes provide more convenient banking services to the local public.”
H68NL authenticates banknotes of multiple currencies and denominations both in deposit and dispensing process. The instant use of the deposited notes for dispensing reduces the amount of money held in ATM to minimum and that improves cash usage and drives down operational costs by reducing the frequency for cash replenishment.
CM400 is a high performance banknote sorting machine with cutting-edge banknote detection technology to improve cash processing speed and accuracy. By utilizing CIS (Contact Image Scan) and OCR (Optical Character Recognition) technology, images of both sides of the banknote as well as the serial number can be captured and recorded.
International Myanmar ICT Exhibition is an annual exhibition organized by Myanmar Computer Professionals Association (MCPA) and Myanmar Computer Industry Association (MCIA), under the guidance of Myanmar Computer Federation (MCF). The MCF have been organizing the most visible and successful ICT exhibitions and expos in Myanmar since 1999 to showcase Myanmar's progress in ICT and enable youths in the country to keep up with the latest technology around the world.
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.
About MIT
MIT was founded in 1997 with the objective of promoting ICT industry in Myanmar. Since then, MIT has become a leading software house in Myanmar by providing reliable strategic ICT solutions through highly innovative state-of-the-art technologies for banking, retail, trading, hospitality, manufacturing, healthcare industries as well as government sectors.