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.