Category: News

The Bank has selected GRGBanking’s Cash Recycling Machines to Drive its Branch Automation Project

Eurobank, the most customer-centric bank and one of the four systemic banks in Greece, has selected GRGBanking’s H68V series of Cash Recyclers for the implementation of its strategic plan, “Eurobank 2030”, which provides for the new “future branches”, aligned with the updated, direct and personalized client services of the Bank, part of the Bank’s digital transformation project. Transaction Systems (TRSYS) in cooperation with its local partner, Novidea, have delivered installed and have been assigned with the maintenance and support services.

More than 450 new generation cash recycling machines by GRGBanking, are being deployed in the whole branch network of Eurobank in Greece, assisting the Bank to achieve significant savings in operational and back-office processes. The Bank has selected cash recyclers as a holistic solution that will help meet its goals of branch transformation and improved customer satisfaction while reducing costs and increasing the digital dialogue between the customers and the new machines.

Self-Service Terminals play an essential role in the Bank’s operations in the Greek market, as cash remains a popular payment method across the country. On one hand, this maintains the pressure on financial institutions to manage availability and customer service, with unproductive tasks, such as maintaining aged bill payment machines, improving terminal malfunctions, upgrading old software, and operating cash supplies in every branch. On the other hand, firm attachment to cash is a somewhat double-edged sword, since withdrawing and depositing cash from ATMs is one of the most common ways customers interact with banks. But that customer interaction comes with its challenges, including the costs of keeping cash in circulation and a slower return on investment (ROI) for banks.

Furthermore, during and following the COVID-19 pandemic, banks are required to provide contactless financial self-service at a time of significant inconvenience. Eurobank has been deploying automated bill payment solutions across its entire branch network for more than twenty years, and was quite pleased with the efficiencies achieved; however, the COVID-19 pandemic has brought the bank closer to the realization of the significant opportunities that arise for driving efficiencies and for moving forward towards their branch digitization and automation projects.  

After carefully evaluating transaction types and volumes occurring throughout their branch network, Eurobank realized they could gain valuable efficiencies by switching to next-gen automated bill payment machines. The new GRGBanking cash recycling solution has been deployed and launched, leveraging an intelligent finance technology and innovative solutions to enhance the efficiency of business operations, reduce costs, and deliver customer satisfaction.

GRGBanking’s H68V series is an innovative smart cash recycler with a modern appearance able to deliver large volumes of cash processing and a variety of transactions. Its cutting-edge design, high reliability, and wide scalability make it a perfect fit for various scenarios. The optional note auditing functionality of the H68V Series can realize more efficient and precise cash management to reduce the total cost of ownership (TCO). What’s more, it offers a multi-layered approach to security that helps defend against fraud attacks.

“We like the design, the features, and the quality very much. Our machines have recorded some of the highest transaction volumes in the country. It totally changes the way we serve our customers— and what we can do for them. We are planning to expand our Self-Service network still further and add even more innovative services to help our customers even more. We believe this reflects the customer expectation at Eurobank, and it is a positive endorsement of business strategy.” commented Mr. Panagiotis Kotsis, Self-Service Banking Terminals Director.

Commenting on the successful rollout of the project, Transaction Systems’ Managing Director, Panagiotis Chalkias has said: “We are extremely proud to be a part of Eurobank’s branch digitization and automation process.  GRG’s cash recyclers have been key to improving banking processes and have so far helped hundreds of banks meet the overall goals of customer relationship management worldwide. It is with great pride that we now can say that we have assisted our customers in their efforts towards business optimization and digitization.”

The immediate benefits of the new cash recycling solution have been clear. Faster transaction times and greater convenience have significantly enhanced the customer experience which contributes to improved customer acquisition, conversion, and retention rates.

More than one million self-service payments were realized without customers’ queuing at cash registers

The Challenge

The largest mobile operator in Greece runs a large network of stores, visited by thousands of customers daily who want to access telco products and services. Maintaining low queues at the stores’ cash registers, as well as the gradual training of customers in the digital services offered, was a top priority for the operator; on one hand, they could maintain excellent in-store customer satisfaction, and on the other hand, it enabled store employees to make better use of their time, and offer premium quality customer services.

The idea was that some transactions should be excluded from the cash registers.  These were the transactions that did not necessarily require customers’ interaction with store employees and should be offered to customers in a self-service mode, without the interference of store staff, in specially designated areas near the store entrance and away from the customer service desks. At the same time, this mode of store operation serves an additional requirement, in line with the current pandemic precautions: that of ensuring social distancing within the stores. 

The Solution

Cardlink in cooperation with PAX Technology and its partners in Greece, Novidea & Transaction Systems, designed a solution that would meet the particular requirements mentioned above. The solution was the PAX SK800 Android kiosk, a specially designed kiosk, which can either be placed on a special base on the floor or mounted on a wall. Customers select the service they want (i.e. bill payments, top-up, user program purchases) and as if they were using an ATM, they would pay with their card (either by inserting the card or contactless). The PAX SK800 self-service kiosk is powered by PAX Paydroid OS and is equipped with a hybrid card reader and durable PIN pad. With a built-in camera and thermal printer, it is one of the fastest kiosks in the market, enabling 4G, Bluetooth, WiFi and Ethernet connectivity.

The Implementation

In the last couple of months, two hundred PAX SK800 Android kiosks have already been installed in an equal number of stores, while the number of transactions has already exceeded one million, at a lower cost and at a higher speed than the traditional cash register. The use of the kiosk is very simple and its menu is user-friendly, so anyone can use it without help. In addition to the above features, using a central content management system, the operator has the ability to display promotional messages and news via videos and photos.

The Benefits

• Improved speed of service: Customer services without queues and delays
• Cost reduction and increase of productivity: Service automation. Store staff can now be employed in more productive activities and services.
• Innovative brand image: The kiosk is an original, state-of-the art technology device with an easy-to-use interface

For more information you may visit www.cardlink.gr

A more flexible commercial model for unattended payments encourages self-service payment transactions in a post-pandemic world

Transaction Systems (TRSYS). a PAX Technology Master Distributor for Central and South-Eastern Europe is currently offering a more flexible commercial model for the state-of-the-art IM20 and IM30 unattended payment modules- as was lately communicated by PAX Technology. The promotion aims to help boost self-service transactions and to promote convenient contact-free payment experiences following the global coronavirus pandemic.

As nations worldwide implemented strict containment measures, effectively shutting down many merchant categories to limit the outbreak, many countries raised the minimum spend required for contactless transactions, as cash usage fell dramatically and consumers preferred to not enter their PIN codes on traditional physical keypads.

In the future, there will be a lot more demand for more self-checkout and unattended self-service payment solutions, as well as more demand for what is perceived as a more clinical approach to PIN-on-Glass entry on modern Android-based payment terminals.

The IM20 and Android IM30 are equipped with large touchscreens with PIN-on-Glass functionality, a benefit compared to traditional physical keypads. Despite the higher contactless limits, many people will still need to key in their PINs to complete higher-value transactions. In these cases, a payment terminal with PIN-on-Glass display is easier to operate and is easier to clean and disinfect.

This is why the cost entry-point for merchants who wish to focus more on self-checkout payment solutions, is now lower. The Android IM30 comes in 3 orderable comms configurations (Ethernet-only, additionally with WiFi & Bluetooth, and a full connectivity suite including 4G) and pricing now includes key accessories such as MDB, USB, and power cables, as well as an external 4G antenna).

For more information on the PAX Technology unattended IM20 & IM30 solutions, you may call us at +36 (1) 328 5000 or email us at info@tr-sys.eu

Transaction Systems, is proudly announcing that it has been honored with the Best ATM/ Self-Service Experience Award during the Bank Customer Experience Summit held in Chicago, USA on September 23 -25, 2019. The award-winning case was the implementation of the “Branch-in-a-kiosk” solution at Sampath Bank in Sri Lanka.

The Best in Bank Customer Experience Awards (BCX Awards) recognize innovative, pioneering financial institutions and technology providers whose branches and technologies are having the most impact on consumers

The “Branch-in-a Kiosk” solution enables Sampath Bank to provide customers with 24/7 banking services, offering the full range of banking transactions; by integrating branch counter, ATM, internet banking and telephone banking, Branch-in-a-kiosk offers a seamless customer experience throughout multiple channels.

Sampath Bank PLC, aims to provide exceptional customer satisfaction and for this reason has chosen Transaction Systems’ Remote Teller Station (RTS) solution, a compact kiosk which can be used both as traditional unattended terminal as well as a remote teller. With its versatile modular design, RTS enables migration of complex counter services and customized financial consulting services to the self-service terminal, thus capable of performing almost all available branch transactions making the “Branch-in-a-kiosk a reality.

On receiving the award, TRSYS Managing Director, Panagiotis Chalkias commented: “We are extremely proud and feel greatly honoured to have received this distinction. This award is a clear evidence of how our technologies optimize bank branch operations, enabling them to provide tech-friendly experiences to their customers and embark on their journey towards digital transformation.”

The new solution offers 24/7 full banking services in a fraction of a branch’s footprint and costs

Sampath Bank PLC and Transaction Systems announce the availability of a “Branch-in-a Kiosk” solution that will enable the Bank to provide customers with 24/7 banking services. The solution offers the full range of banking transactions, integrating branch counter, ATM, internet banking and telephone banking, offering a seamless customer experience throughout multiple channels.

With more than 30 years of financial services in Sri Lanka, recognized as the best retail and commercial services bank in the country, Sampath Bank PLC, true to its commitment for digital transformation, and aiming to provide exceptional customer satisfaction, has chosen Transaction Systems’ Remote Teller Station (RTS) solution, a compact kiosk which can be used both as traditional unattended terminal as well as a remote teller. During the first phase of the project, the solution has been primarily installed in a branch in Colombo, capable of performing almost all available branch transactions making the “Branch-in-a-kiosk a reality.

With its versatile modular design, RTS enables migration of complex counter services and customized financial consulting services to the self-service terminal. Over 99% of counter services are available on RTS, thus it can be utilized for branch transformation or teller-less branch. Thanks to its unique LiveBank platform by Ailleron, customers are able to perform almost all of their banking business via real-time video interaction and guidance of remote teller, thus creating a virtual branch with all the features of a physical one.

“With technological innovation at heart, Sampath bank has been able to differentiate itself from competition and stand out as the bank of choice for many Sri Lankans” said Ajith Salgado, Group Chief Information Officer, Sampath Bank PLC. “With the introduction of the first ever Virtual Teller Machine in Sri Lanka in collaboration with Transaction Systems and Ailleron, the customers of the bank are now empowered to carry out services including accounts opening and card issuance with PIN nomination, by themselves at their convenience. The solution offers the key to improve banking processes and helps to meet the objectives of customer relationship management in retail segments”.

“The successful implementation of the “branch-in-a-kiosk” concept is a clear evidence of what our technologies can do for financial institutions”, said Panagiotis Chalkias, Managing Director, Transaction Systems. “TRSYS technologies enable for more efficient bank branches, creating enhanced tech-friendly experiences for customers and improved operational efficiencies for the bank.”

Commenting on the new cooperation, Michael Pappas, Product Director, FinTech Solutions, Transaction Systems, said: “We are very proud of our cooperation with Sampath Bank and Ailleron that brought to life the idea of Branch-in-a-Kiosk and will now be driving the Bank’s customer experience to a new level. The results have been so far stunning, as, for the first time in Sri Lanka, the Bank introduced real time account opening along with debit card issuing via the remote teller machine; bringing the Bank into the forefront of innovative, digital services offering.”

Moreover, the solution allows Sampath Bank to engage with customers on a 24/7 basis, using dynamic offers and real-time online assistance through video, text chat, click to call, and co-browsing functionalities. It is a unique platform with built-in support for the Bank’s sales and operational processes, including cross-selling/up-selling through the presentation of personalized offers and the possibility of problem-free handling of many issues during a single video session, with the option of switching the customer to experts in the requested areas.

Download the CaseStudy_BranchInAKiosk_SampathBank