News

Commerzbank video teller project captures IT innovation award

GRGBanking supplied video teller machines for the project, which was one of four chosen from among 40 entries in the banking IT category.

December 22, 2014

A Commerzbank "Videokasse" video teller machine project has received the Banking IT Innovation Award from the Competence Center for Sourcing in the Financial Industry, a cross-university research project that develops concepts and solutions with 18 partner companies.

GRG is the supplier of video teller machines for the competition entry by Commerzbank, which according to a news release, is Germany's second largest retail bank.

The Oct. 29 competition was held during the Business Engineering Forum 2014 at the University of St. Gallen, Switzerland. The event featured 40 nominees in the banking IT Innovation category, with four winners awarded.

The Commerzbank project includes three VTMs installed at Commerzbank branches in Berlin and Stuttgart. The VTMs, which are online 7:30 a.m.–9:30 p.m. weekdays and 8:30 a.m.–9:30 p.m. weekends, extending banking hours by 80 percent at the two branches.

The GRGBanking video banking solution uses video conferencing technology to integrate self-service and teller service, providing up to 95 percent of traditional teller transactions in a smaller footprint, the GRG release said. According to the company, the solution is well suited to branch transformation and tellerless branch applications.