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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. TRSYS in cooperation with its local partner, Novidea, has delivered the installation and has been assigned 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 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.

 

Watch the case study video here

 

Transaction Systems and GRGBanking Extend their partnership to Provide Organizations in Poland with Banking Transformation Solutions

Transaction Systems, the leading provider of transaction and branch automation solutions in Central, and Southeast Europe, and GRGBanking (GRG), the leading provider of financial intelligent equipment and solutions, announce the extension of their existing cooperation to provide GRG’s intelligent products and innovative financial technologies in Poland via Self-Service Solutions Polska (SSS Polska), TRSYS’ partner in the country.

With a strong international presence, established offices and subsidiaries in Europe, Southeast Asia, the Americas, the Middle East, and Africa, GRG aims to set up its banking automation business globally through a strong network of strategic partners. Part of this strategy is the expansion of the agreement with Transaction Systems to include Poland and allow Transaction Systems’’ partner in the country, Self Service Solutions Polska, to act as the exclusive general GRG’s distributor in the country. The extension of the agreement comes after a successful 5-year cooperation that dates back to 2018 and has so far covered 13 countries in Central and Southeast Europe. Financial institutions in Poland will now be able to benefit from the multiple benefits of GRG Banking solutions to be offered and supported by SSS Polska.

GRG has already initiated its global expansion strategy entering new potential markets overseas with innovative products such as H68VL – the latest multi-function Recycling ATM as well as Cash Dispensing ATMs, Retail Recyclers and Depositors, Cash Counting Machines, and many others. Besides their current implementations in Central and Eastern Europe, the extension of the partnership with TRSYS and SSS Polska will initiate GRG’s expansion in the Polish market.

Linda Lu, General Manager, GRGBanking Hong Kong, mentioned:” It is a breakthrough for market development with Transaction Systems and SSS Polska. This partnership focuses on Intelligent Finance, Branch Transformation Solutions, Smart Retail Solutions, and various solutions, driving innovation and digital upgrading within the banking industry in Central and Southeast Europe. GRGBanking’s expertise and tailored solutions ensure enhanced operational efficiency and an optimized customer banking experience.”

Commenting on the new cooperation, Panos Chalkias, Managing Director, Transaction Systems  said: “We are particularly happy to expand our partnership with GRG to include Poland. With banking automation solutions already implemented in our region, this cooperation will enable us to support organizations in Poland via our partner SSS Polska and assist them in their efforts to optimize and streamline their business processes, reduce costs as well as increase revenues.”

“We are very excited about our cooperation with GRG Banking and Transaction Systems.. GRG Banking is the 3rd largest ATM manufacturer in the world investing tremendous resources in the R&D of self-service technology. Thanks to our cooperation, Polish organizations, from financial and retail industries alike, will also be able to benefit from state-of-the-art GRG Banking innovative solutions and know-how’, says Marcin Wrotkowski, General Manager, SSS Polska. “Close cooperation with a trusted regional partner such as Transaction Systems will provide us with an additional strong backbone supporting our activities on a Polish market”.

 

Transaction Systems announces the promotion of Panagiotis Chalkias from Managing Director to CEO for Central, South and East Europe.  In his new capacity, Panagiotis Chalkias will have full responsibility for the company´s go-to-market in CEE, driving the company strategy for product enhancement and geographic growth.

Since first joining Transaction Systems in 2014, Panagiotis has served as the Managing Director of Transaction Systems, Hungary, responsible for the company’s development and expansion. During that time, Panagiotis was credited with a variety of important accomplishments including the growth of the company into one of the key players in the field of e-payment solutions in Central and Eastern Europe. During his tenure, Transaction Systems has expanded into new product areas to include branch and retail automation as well as digital transformation solutions.

Panagiotis Chalkias is an experienced leader and recognized expert in the field of e-payments. In his professional career, he held management positions at international system integrators and IT, accumulating extensive expertise in the electronic payments space paired with a thorough understanding of the retail payments ecosystem.

“We are certain that Panagiotis will be an asset in the years to come. His long-standing experience with our organization will allow TRSYS to provide our customers with the high-quality products and services they deserve while enabling us to achieve our goals for growth as a company”, said Martin Loeffler, Global CEO, Transaction Systems.  “Having already succeeded in establishing the company as a leader in the e-payments industry, Panagiotis is the ideal professional to lead the continued expansion of our operations across Central and Eastern Europe; he has a deep understanding of TRSYS values and purpose as well as a clear vision of the impactful role that TRSYS can continue to play in the region.”

Commenting on his promotion, Panagiotis Chalkias has said: “I am thrilled to take on this enhanced responsibility. Our company is perfectly positioned and has the best-in-class employees to keep on to achieve our goals for growth, enhance our portfolio, and bring it to the next level. I will put all my efforts into further building our already established track record.”

 

As the digital age advances, the banking sector is also evolving, with branch transformation being a key area. The pandemic has accelerated this process, creating both challenges and opportunities for banks. Transaction Systems’ CEE CEO, Panagiotis Chalkias’ keynote speech during the BankTechShow, elaborated on the drivers and challenges of branch transformation and the branch of the future, with new service delivery models.

While many have predicted the disappearance of bank branches, according to Panagiotis Chalkias they will be with us for a long time to come, but their form, size, and function are constantly evolving. The transformation of bank branches is a major challenge of the digital age, and it’s important how it happens.

The transformation aims to ensure that, in addition to new service channels, branches meet the needs of different customer segments, enabling banks to retain their current customers while attracting new ones. Matching the shape and size of branches to different customer needs and harmonizing the channel mix is not an easy task.

Branch transformation is a systematic project to transform traditional branch operations into a customer-centric and user-friendly banking experience that is seamlessly integrated into a true omnichannel process, supported by technology.

“The key to transformation is how branches can become an integral part of the bank’s overall strategy” –  highlighted Panagiotis Chalkias.

Chalkias also highlighted the challenges of “omnichannel integration”, stressing that true omnichannel banking is achieved when all the different channels can work within a single framework. This is necessary to ensure the consistent value proposition and rules that customers expect.

“We have heard the term “omnichannel integration” too often. In theory, hundreds of people claim to be implementing omnichannel banking – in practice, I know of only 3-4 platforms that actually do it.” -said Panagiotis Chalkias.

Banks are constantly changing and improving in different segments of their business. If there is no single framework in which to plan and execute these changes, they will have no meaningful impact.

Another challenge of branch transformation is the re-design and re-sizing of the branch’s image. In many cases, these projects are limited to updating the decor, lacking a strategic and integrated approach.

However, Panagiotis Chalkias also acknowledged that there is no real golden rule when it comes to redesigning the branches. We can expect to see different types of branch models depending on the location and segment.

On the subject of technologies related to branch servicing, the Transaction Systems head highlighted the development of automated points of contact.

“In the past, the automated point of contact was just an ATM. Today it can be a machine that prints your new bank card on the spot. Today, recycling terminals are standard and devices specialized for large retailers are available to facilitate bulk deposit.”

As for the branch of the future, in addition to the 24-hour zone and the self-service transaction zone, it is expected to include a “smart” reception desk to help guide customers and a virtual showroom to help them experience products and services.

In addition, new approaches such as “Branch-in-a-box” or “Branch-out-of-branch” models will be introduced, where you can either do 100% of what you would do in a branch yourself or bank staff can take the tools needed to provide essential services with them.

At the end of his presentation, Panagiotis Chalkias also pointed out that branch transformation is not a one-off process, with no fixed start and end date. The biggest obstacles to transformation are legacy systems that can hinder the running of new-generation solutions and traditional procurement procedures and lack of commitment from project members.

In summary, Transaction Systems’ experience shows that branch transformation is not only a technological challenge, but also a strategic one, requiring a holistic approach by banks to meet the needs of the digital age.

The point of sale (POS) payment terminal has been a mainstay of merchant countertops with little change in functionality for decades. Now merchant payment solution providers, hardware vendors, and app developers are all focused on revolutionizing and bringing more value to the point of sale to turn it into a point of interaction (POI) for the merchant.

Check out this article from Transaction Systems’ latest presentation at PayTechShow, in Budapest.

Transaction Systems is pleased to announce its recent membership in the European Vending Association (EVA) as a Supportive Member. By joining the EVA, Transaction Systems (TRSYS) aims to leverage the association’s extensive network and deep industry expertise, gaining access to the latest market trends, technological advancements, and regulatory updates that are essential for maintaining a competitive edge in the rapidly evolving electronic payments and vending sector.

The company believes that EVA membership will not only enhance its visibility and credibility but also facilitate valuable partnerships and collaborations with key industry stakeholders. Through participation in EVA events and working groups, TRSYS hopes to influence industry standards and practices, ensuring that its solutions meet the highest industry requirements and customer expectations.

Erwin Wetzel, EVA Director General, welcomes the company to the EVA, saying, “a warm welcome to Transaction Systems. Cashless continues to grow year-on-year in vending in all European markets, and another solution provider for the sector joining the Association is always positive and beneficial. The unique market knowledge gained from the EVA reports, and the benefits of meeting machine operators through EVEX this October in Cannes, can truly help Transaction Systems in market visibility.

“Our advanced solutions streamline operations and enhance customer convenience. By embracing cutting-edge technology and industry expertise, Transaction Systems empowers vending businesses to increase sales, improve operational efficiency, and provide a superior customer experience”, said Panos Chalkias, C.E.O Central, South and East Europe, Transaction Systems. “Committed to innovation and reliability, Transaction Systems continues to drive the future of cashless payments in the vending industry, ensuring a seamless and secure transaction process for both operators and customers worldwide.”

By joining the EVA, Transaction Systems looks forward to contributing to the growth and development of the vending industry across Europe and beyond.

How is the retail payment experience evolving—and what’s next for merchants and consumers?
At the Baltic Payment Forum 2024, our CEO for Central and South East Europe, Panos Chalkias, shared insights on emerging technologies, new payment habits, and the transformation of transactions in the retail space.
🎥 Watch the full presentation to explore the future of payments here.

The future of customer-centric banking is here! As artificial intelligence and cutting-edge technology continue to shape the financial services landscape, the traditional bank branch is undergoing a revolutionary transformation. In this insightful article summarizing Transaction Systems’ Michal Mierzejewski presentation at the BankTechShow Conference, you’ll discover how AI-powered avatars, human advisors, and 24/7 self-service solutions are redefining the banking experience.

Explore the possibilities of the next-generation bank branch, where innovation meets customer convenience, and learn how these advancements are paving the way for a seamless and personalized approach to financial services.

Read the full article here to see how technology is bridging the gap between efficiency and human connection in banking.