10Apr
Filed in Banking industry news | GRG Banking | news
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Phoenix TV released a special coverage regarding Cantonese Corporation Transformation and Industry Rebalancing on March 6, 2012, along with an exclusive interview with Mark Yip, Managing Director of GRGBanking.
During the interview, Mark Yip portrayed the history of GRGBanking’s successful innovation-driven transformation and upgrading by implementing its “High Investment for High Output” strategy.
GRGBanking Managing Director Mark Yip Interviewed by Phoenix TV
In the wake of European Debt Crisis, facing soaring international commodities prices and global economic downturn, many export manufacturing companies in Pearl River Delta are in a severe business environment. However, such negative factors are partially offset by Guangdong government’s continuous efforts in industry transformation and upgrading. GRGBanking has been in the spotlight with its steady growth and rapid expansion.Located in Science City, Guangzhou,
GRGBanking is a leading currency recognition and cash processing solutions provider in the global market. GRGBanking has persisted in its “High Investment for High Output” strategy by focusing on independent core technology and brand. “Basically we invest 6-9 per cent of our annual revenue for research and development, and sometimes this figure reaches 10 per cent. Take 2011 as an example, because of our annual revenue of 2 billion, our investment on research and development was over 100 million, which is a reasonable rate for a high-tech.” Mark Yip said, “We define ourselves as an industry leader, therefore we set industry-leader-standards for our R&D investment, human resource management and equipment test.”
Through years of technology innovation, GRGBanking has become one of the three companies that master the core cash recycling technology in the world. Dating back to 2010, GRGBanking won the largest cash recycler contracts outside Asia by high quality recycling ATMs with independent intellectual property rights. The full range of GRGBanking’s ATM products successfully passed the security evaluation and all 2,200 functional tests, and was thus certified by German Banking Industry Committee in December 2011. All these accomplishments establish a solid foundation for the company’s penetration and expansion in the European as well as the global market.
Facing the global economic turbulence, “we are still very optimistic about the future”, Mark Yip said with full confidence. “New Positioning for competitive advantage, new thinking paradigm charting the future” is the theme of development for GRGBanking in 2012. In the upcoming future, GRGBanking will continue to concentrate on building its competitive advantages by operating model innovation, and strengthening ATM core technology research and development. Its focus on high-tech manufacturing and service industry, innovative Internet of Things technology and cloud computing application in ATM industry will bolster up GRGBanking’s march towards high-end supply chain and value chain sector.
Cantonese Corporation Transformation, development, German Banking Industry Committee, GRGBanking, leader, Managing Director Mark Yip, Mark Yip, research and development, technology, Transformation
23Nov
Filed in Events | GRG Banking | news
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Recently, Ministry of Commerce of the People’s Republic of China organized a visit to some of China’s excellent export enterprises, with representatives from commercial institutions of different counties and foreign media. Mr. Li Boqing, Deputy Director of Department of Foreign Trade, led the delegation to visit GRGBanking, getting to know the technology and quality of China’s export products. Integrating with the concept of low-carbon, environmental friendly and people-oriented, GRG makes a great improvement in scientific management, trust operation and internationalization.
Dr. Eduardas Vaigauskas, General Manager of GRGHK, welcomed the delegation and expressed his thanks to the trust and support of Ministry of Commerce. Dr. Eduardas Vaigauskas briefly shared GRG’s history to the guests and then gave a detailed introduction about GRG’s technology innovation, independent research and development abilities as well as its business achievement in overseas market. Continue reading “A delegation of the Ministry of Commerce of PRC visited GRGBanking” »
export, GRG, GRGBanking, Ministry, Ministry of Commerce, technology, visit
11Nov
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Co-operative Bank Ltd., (CB Bank), launched the first ATM to the Myanmar public at its Head Office, Yangon, on Nov 1, 2011. The day indicates likely that every Asian country has ended the time without ATM to use. Myanmar public has waited 8 years to use ATM again. Last time for Myanmar public to have ATM can be dated back in 2003. The bank, which provided that ATM service, stopped it in the same year.

As the first ATM in Myanmar since 2003, it is produced by GRGBanking, the leading provider of currency recognition and cash processing solutions in the global market. The model of all machines is H22NL, a new generation versatile cash dispenser in a compact cost-effective footprint.

The name of the ATM service is “Easi Banking”. Any customer can apply Easi Card at Head Office of CB Bank. With aim of enabling their customer to enjoy easy round-the-clock service of withdraw, check balance, transfer and payment, the bank will installed the other ATM of first phase soon on Wizaya Branch, Mingalarzay Branch and other branches or shopping malls.
Myanmar Information Technology (MIT), GRGBanking’s Myanmar partner helps ensuring the successful running of the ATM. GRGBanking and MIT are developing Myanmar’s first national financial switching, as well as, first bankcard and payment card systems named Myanmar Payment Union (MPU) as well. Continue reading “GRG helps Myanmar public to have ATMs again after 8 years of waiting” »
atm service, Bank, co operative bank, custodian services, development, first bankcard, global treasury, GRGBanking, payment, recognition
09Nov
Filed in GRG Banking | news | Products
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Ziraat Bank (T.C. Ziraat Bankas? A.?.), Turkish’s largest state bank, is to build the largest biometric ATM network in Europe by January 2012.
The bank had bought 1505 GRG recycling ATM, all of which are equipped with palm vein readers, the latest biometric security technology used in ATM. In addition, 1,400 desktop palm readers that can connect PCs via USB were ordered and the delivery is completed.

By January 2012, “1.400 desktop palm readers will be disseminated over branches for the purpose of reading the customer’s palm vein data”, said Mr. Ali Araz on ATMIA ATM Security 2011, London. Araz is the General Manager of Fintek, which is the IT company of Ziraat Bank, and CIO of Ziraat Bank. Besides ATM from GRGBanking, the Bank has currently 2,900 ATM from NCR and Wincor Nixdorf ATM. Continue reading “Ziraat Bank to build the largest biometric ATM network in Europe” »
atm network, atm security, biometric security, biometric technologies, ziraat bankas
17Oct
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German researchers have cracked the encryption used to protect a type of smartcard whose functions range from restricting access to buildings to processing public transit system payments.
The team demonstrated a hack that can duplicate the magnetic security card and break a previous version of contactless ID cards from Mifare in 2008, The Hacker News reported.
“The new hack is carried out using a side channel attack, which bypasses the defensive features intended to prevent attacks on the card. To achieve this, the researchers made repeated measurements of electricity consumption during encryption and decryption. This can be determined by measuring the magnetic field close to the card,” The Hacker News said.
It was this same team that broke a previous version of contactless-ID cards from Mifare in 2008.
At the time, the intrusion prompted Mifare to upgrade its security to create a card able to be programmed only once.
The upgrade also contained a unique identifying number that could be checked against the programmed content on the card for extra security.
A separate article on IT World identified the researchers who worked on both cracks as David Oswald and Christof Paar at Ruhr University in Germany.
In their cracks, the team used a probe and oscilloscope to record the card’s broadcasts while it’s being read by and RFID reader.
The researchers needed about seven hours to crack the security on one card and get its 112-bit encryption key, the IT World article said.
However, they said it only works if one spent months profiling the card’s architecture, behavior and responses.
They also noted the weak point for the MF31CD40 – and many of NXD’s other cards, which were the ones cracked – is that it does little or nothing to resist being recorded, prodded and poked by crackers.
The EV1 upgrade to that card has an on-chip backup management systems, an authentication mechanism that uses three separate authentication methods, encryption based on the 3DES hardware encryption that meets security requirements for most U.S. government agencies, but is compatible with existing systems designed to read the card using Near Field Communications (NFC) radio systems.
“That probably means it does not yet contain any countermeasures able to stave off determined crackers poking it to see how it reacts,” IT WOrld said. — TJD, GMA News
electricity consumption, hacker news, Mifare, new hack, public transit system, RFID, ruhr university, security, team, Type
15Apr
Filed in GRG Banking | news
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GRG signs 35 million USD contract with Ziraat Bank
Recently, GRGBanking signed a contract worth over 35 million USD with Ziraat Bank in Turkey to provide recycling ATMs. The contract is the ever biggest cash recycling delivery contract outside Asia.
Ziraat Bank, which means Agricultural Bank of the Republic of Turkey in English, is the fourth largest bank and the biggest state bank in Turkey. It held tender for purchasing ATMs last year in order to expand its ATM networks. GRGbanking won the tender by high performance recycling ATMs-H68N with independent proprietary rights. Because of the outstanding performance and excellent local support during the field test and trial usage for the past few months, the contract value has been increased approximately 20% from the original tender value.
The GRG Recycling ATMs-H68N are able to make deposited banknotes available again for cash dispensing after a successful validation, therefore can reduce the costs and risks associated with cash replenishment and service.
Recycling ATMs are very popular in East Asia. GRG is now helping to push this advanced technology to East Europe market. These machines attracted lots of eyes when first deployed in Turkey. The average ATM transaction volume was very high during the flied test period, while the cash management cost was proven to be significant reduced.
“We strongly believe this success of GRG will make strong influence on the acceptance of cash recycling in Turkish financial industry.” Said Dr. Eduardas Vaigauskas , general manager of GRG Banking Equipment(HK) Co., Limited
About GRGBanking:
Established in 1999, GRGBanking now is a leading currency recognition and cash processing solution provider in China and the global market. We are No. 1 ATM supplier in China and top 10 in the global market, with more than 66,000 ATMs being sold worldwide, and serving customers in over 60 countries and regions.
atm networks, atm transaction, Bank, cash replenishment, contract, GRG, GRGBanking, recycling, test, ziraat bank
02Nov
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After more than one year of preparation, the first Chinese ATM R&D Academy,GRG R&D Academy , which is founded by GRG Banking—the NO.1 local ATM brand, started service on 1st Nov. 2010. So far, the GRG Banking ATM industry park has become the ATM manufacturing base with the largest ATM production capacity of the world.
The GRG R&D Academy which occupies a space of about 4000 square meters is recognized as a state level financial electronics technology center. It consists of the R&D Center Office, Institute of ATM, Institute of ATM security, Institute of General Research, Institute of Basic Research, Institute of AFC Research, Institute of Software Research and the Test Center.
Continue reading “The first Chinese ATM R&D Academy officially launched” »
Academy, ATM industry, atm security, Banking, Banking---the, chinese academy of science, global competitiveness, preparation, state, technological competence
24Sep
Filed in Broker | DIEBOLD | For Sale | Global | Marketplace | NCR | news | WINCOR NIXDORF
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We have now opened our new, powerful ATM parts classified ads section!
For a short time all classifieds will be free of charge, so hurry up and place your ad for free!
You are searching an ATM spare part, new or refurbished, original or generic?
Post it on the classifieds section.
CLICK HERE TO GO TO THE ATM CLASSIFIEDS
ads section, atm, cashotec, charge, classifieds section, hurry, Post, short time, spare part, time
10Aug
Filed in atm security | Broker | Events | Global | Marketplace | news
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Yesterday the new Automated Teller Machine business club has been created.
Website: ATMBC.COM
The mission is to provide a fresh platform for the ATM professionels.
Creating connections, interchange of ideas, discussion about the banking industy and much more.
There are no entry fees and no “inside” communication fees. The members can freely communicate and offer their parts on the marketplace. It is also an excellent way to find obsolete parts.
The ATMBC is a partner of obsoleteatmparts and cashotec.
All kind of banking industry members are very welcome too. No matter if you are selling banknote counters, banking software, printer ribbons or simply paper rolls for ATMs give it a try.
Please feel free to join the ATMBC simply by creating a user account on its website and be part of it!
Contact: info@atmbc.com
automated teller machine, automated teller machines, banknote counters, business, discussion, machine, machine business, platform, printer ribbons, Yesterday
06Jul
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GRG Banking Equipment HK Co. Ltd., a subsidiary company of GRG Banking, has announced the availability of a new cash intelligence solution, which includes cash recycling systems H68N/H68NL, bulk cash deposit system P2801L and a new software platform.
According to a company release, GRG Banking’s end-to-end solution, which enables multiple manual processes to be automated, is aimed at optimizing the entire cash supply chain from front to back-office so that bank and retail employees will no longer come frequently into contact with cash.
At the core of the solution is an intelligent cash cassette, which is equipped with on-board smart chips. The memory chips store and carry a variety of information, such as how many notes are contained in the cassette, note currency or denomination and access history and error codes. As a result, these intelligent cassettes enable fast exchange of cash; for example, the cash taken from a retail store can be transferred directly to a nearby ATM, eliminating the need for taking cassettes to a CIT operator’s cash center and counting the cash there.
Software applications are also provided and controlled by a centralized cash cycle management base, which supports multi-institutional reports for dispute processing and account reconciliation.
account reconciliation, Banking, cash cassette, deposit, Equipment, Ltd, memory chips, recycling, recycling systems, smart chips