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© 2014 Networld Media Group | Sponsored by GRGBanking

Big retailers are far from satisfied with the current cash handling process. In one example, it can take shopping mall cashiers more than two hours to complete a complicated cash-handling procedure before they can finish their work day. Depositing the cash in a simple safe in-store or in a 24/7 bank branch isn’t convenient or secure because it takes time and increases the cash exposure in transit. In addition, internal theft is difficult to prevent with little control of the in-house cash process.

Meeting expectations of the big retailersThe intelligence of automated cash collection originated from smart safes, which have been around for many years in small retail shops. However, the speed, capacity and security standard cannot meet the demand of cash-heavy transaction retailers, such as large chain supermarkets, shopping malls and banks.

Intelligent deposit machines are designed for handling cash-heavy trans-actions with higher deposit limits for every transaction, faster transaction speed and bigger capacity. In conjunction with the accompanying software, intelligent deposit machines use real time monitoring to keep track of de-posit, shift exchanging and cash collection information, effectively reducing instances of internal theft.

The machines are typically deployed in the stores to provide deposit au-tomation service after business hours. Therefore, instead of going to the 24/7 bank branch, retailers can deposit the cash in the back office. If the machines are connected to a banking network, banking services such as instant credit after deposit can be enabled.

Al Rajhi Bank installed GRG Intelligent Deposit Machine P Series in two big retailers in Saudi Arabia, a telecom communication company and the larg-est retail chain in the country. Before deploying the machine, the retailers had to go through a long process for cash handling, which included wait-ing in long lines at bank branches. With the intelligent deposit solution, the retailers saved time and the added labor costs associated with wait times.

Intelligent Deposit Machines enable banks and CITs to provide better user experience and efficient cash collection

Intelligent Deposit Machines: Faster Cash Collection and Management

By Richard Slawsky ATMmarketplace.com

SPONSORED BY:

GRGBanking, located in Guangzhou, China, has been engaged in R&D, manufacturing, sales and service of ATMs and other self-service solutions for retailers and financial institutions for more than 20 years. The company is one of the top ATM provider in China, and its applications and products are available in more than 70 countries. The product and service portfolio of GRG covers financial self-service terminals, retail deposit terminals, cash and check processing mod-ules, software solutions and Automatic Fare Collection System together with technical support and services.

About the sponsor:

Intelligent Deposit Machines: Faster Cash Collection and Management

2© 2014 Networld Media Group | Sponsored by GRGBanking

Changes in competitionDream Mall, the largest shopping mall in Taiwan and East Asia, hosts more than 600 retailers and over 1,200 cashiers. The mall used to cooperate with several banks, randomly based on the benefits the banks provided each retailer. After 10 of GRG’s P2801L were successfully deployed in 2012 by Shin Kong Bank to automate the cashiers’ cash deposits and enable real-time credit to retailers’ bank accounts, a fast deposit automation trend began in Taiwan.

The intelligent cash collection solution has also simplified the way cash-in-transit (CIT) companies and retailers handle cash. Remote monitoring of the machines with DVR or remote software, allows the CIT companies to monitor and diagnose machine status 24/7.

Saving personnel costs to count the daily cash income from the 600+ retail-ers, the Intelligent Cash Deposit Machines P Series dramatically reduce the time and risk of cash handling by retail and CIT staffs and simplify the cash processing procedure.

Larger capacity and enhanced safety of the machines help retailers safely keep their deposits overnight, reducing cash collection frequency and cash cassette handling, resulting in less cash exposure to CIT employees.

The change in the way cash is handled has eased the pressure of cash-heavy transactions in retail sites and increased the level of satisfaction of all parties involved in the cash process.

“It is a fantastic and impressive machine which already got 100 confirmed buyers. It is a very successful project, we are extremely satisfied.”—Badri Alli Al Kadhim, AGM-Head of Global Transaction Banking Financial Institutions, Al Rajhi Bank, Saudi Arabia

“We have purchased and deployed a handsome number of GRG P2801L in Taiwan. The performance of the machines is satisfactory and capable of handling our transaction volumes.”—Garry Yang, GM, Intersys Taiwan Ltd.

Intelligent Deposit Machines: Faster Cash Collection and Management

3© 2014 Networld Media Group | Sponsored by GRGBanking

Innovation in the service channelInefficient cash handling and high cash volume have created a challenge for the traditional cash handling method.

In order to optimize resources during the cash-handling process and provide better service to big retail customers, some CIT companies are considering the bigger cash automation machines. Collecting cash with a cash machine at retail sites has increased CIT service response times and enhanced customer satisfaction.

Some international and regional CIT companies have introduced intelligent cash collection services in various supermarkets, franchised stores, tele-com stores and car auction markets. GRG P Series and software solution allow the CIT companies to have better control during the collection shift, and with cassette management and service responses.

G4S Cash Solutions PTY LTD SA has been in the intelligent cash collec-tion business for many years, and has a wide network and high reputation in South Africa with its innovative cash management system. So far, there are more than 60 percent of retailers using cash deposit machines provided by G4S Cash Solutions.

G4S has integrated GRG P Series Intelligent Cash Deposit Machines into its system for retail clients for several years, enabling their customers to experi-ence convenience and flexible financial management with this system.

“It has very good quality with state-of-the-art technology, and I think the back up support we have been given from GRG for years is quite exceptional. I believe the flexibility of GRG in terms of implementing education and solution capability is quite remarkable,” said Christoffel Terblanche, managing director, G4S Cash Solutions PTY LTD SA.

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