News

Philippino IAD closes ATM deal with GRG

March 21, 2012

The Philippino cash-in-transit company, ECTK Solutions Inc., has entered an agreement to buy H22N/L and E300L ATMs from GRG Banking to provide service to financial institutions, the Guangzhou, China-based GRG announced.

ECTKSI belongs to the ECTK Integrated Security Group of Companies, which operates the largest armored transport manufacturing and leasing business in the Philippines, along with a robust security force that has handled the cash transport service requirements of major banks in the country since 1992.

The ECTKSI the partnership with GRG is a component of the company's ATM end-to-end business model, which is unique in the Philippines, said CEO Angelito M. Villanueva. In addition to sales and leasing for GRG ATMs, the company also offers ATM switching licenses, cash replenishment, monitoring, armored transport and other outsourcing services to financial institutions.

Villanueva expects to see an increasing GRG presence in the fast-growing Philippines market. ECTKSI's current purchase agreement with GRG exceeds its total purchases since the companies' original partnership in 2005. "With technology from GRGBanking and our expertise on the Philippine market, there is a new co-operation way we will want to see," he said.

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