News

Singapore bank debuts GRG video teller technology

August 24, 2016

POSB, a subsidiary of international banking group DBS, has announced the debut of its first POSB video teller machine at the Singapore-based bank's ITE College branch, according to a press release.

The VTM, which was supplied by GRGBanking, is capable of providing round-the-clock banking services with the option of face-to-face teller assistance via live-video streaming.

In addition to balance enquiries, personal data updates and statement requests, the POSB VTMs can dispense internet banking security tokens and instant-issuance debit cards.

"We see the POSB VTMs as a game-changer for the industry in terms of delivering round-the-clock branch banking services to our customers," said Jeremy Soo, managing director and head of the DBS Singapore consumer banking group.

POSB plans a gradual deployment of additional VTMs, the release said. These installations are to be completed by the end of the year.

GRG currently claims a 50 percent share of the VTM market in China, and additionally has deployed the technology on behalf of customers in Germany, Turkey, and now Singapore.