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GRG, Standard Chartered go live with Hong Kong's first VTMs

The devices provide remote video teller assistance for more than 70 percent of traditional counter transactions.

October 24, 2014

Standard Chartered Bank (Hong Kong), a subsidiary of international banking group Standard Chartered, has debuted "digital teller" service in its Exchange Square Branch in Hong Kong.

According to a press release from GRGBanking, three of the company's video teller devices in the tellerless Standard Charter branch provide remote teller assistance for more than 70 percent of traditional counter transactions.

Services offered include cash deposit and withdrawal; check deposit; and support for five different currencies.

General manager of digital banking Theodore Mak, said that a six-month VTM pilot returned positive customer ratings (averaging 8.8 points out of a possible 10), and rated especially well on processing time and convenience.

According to the release, the VTM I60 leverages video conferencing technology to integrate the merits of self-service and counter service, providing up to 95 percent of teller counter transactions. This allows banks to provide services in a smaller-footprint tellerless branch.

GRG estimates that it currently holds a share of more than 50 percent of China's VTM market. Units are also in use at Germany's Commerzbank and at Kuveyt Turk Participation Bank in Turkey.