The authoritative media Financial News has released "Market Review of Smart Branch Terminals of China in 2021". According to the article, GRGBanking is still dominating the Chinese financial terminals market, ranking No.1 in the smart financial terminals market for 14 consecutive years. At the same time, the company has taken the lead in deepening the integration of financial services and different scenarios to help construct digital branches for major banks. Below are some excerpts from the article.

Digital Banking is the pioneer of digital finance, and Fintech is a powerful engine to promote digital transformation. Financial institutions and banks have ushered in new opportunities for transformation and upgrading by leveraging financial, biometric, and innovative technologies, such as AI, big data, cloud computing, and blockchain. The Digital Banking 4.0 era has become more intelligent, open, and digitalized.

The year 2021 is the first year for China's 14th Five Year Plan and the last year for China's Fintech Development Plan (2019-2021). This year, China has entered the stage of high-quality development in the Fintech industry, while its new requirements for Fintech have also put forward. The solution providers conform to the demands of digital transformation by following the changes in technology and connecting financial services with cross-border trading to build an intelligent, open, and non-physical digital bank.

According to the General Operation Report of Payment System Q3 2021 released by the People's Bank of China in December 2021, the number of bank cards in use has reached 9.183 billion by the end of Q3 2021, an increase of 0.80% compared to Q2 2021. The total number of ATMs in China was 959.7 thousand units, a decrease of 27 thousand units compared to Q2 2021. However, the number of ATMs has slightly declined, as the number of branches remained stable, and with the rising demand for branch transformation, the number of smart financial terminals kept increasing.

The statistical data from the financial license information platform of the China Banking and Insurance Regulatory Commission showed that over 2,600 branches closed and over 2,400 branches opened in 2021, which means the total number of branches remained stable. As it is difficult to obtain a license for a full-service bank branch, bank operators have come to a common ground: the key point of branch transformation is improving efficiency. The bank branch is still an important service channel for banks, for it plays an important role in dealing with complex transactions and connecting online to offline channels. Smart financial terminals have become more important than ever as the key intersection to integrate banking services with scenarios and a bridge to connect online and offline services.

In the fourth stage of the development of Digital Banking, the importance of customer experience is becoming more and more prominent. Branch transformation has begun to take effect, but the customer experience is below satisfactory, and the service shift between the online and offline channels is not smooth enough. On the one hand, online channel services cannot cover all the customer groups, and the "warmth" of online services is far less than offline services. On the other hand, banks can still acquire customers from offline channels. Therefore, the key points to enhance digital transformation are optimizing the customer experience, smoothly connecting online channels with physical branches, and providing customers with all-in-one service. Based on this situation, banks began constructing an ecosystem that connects online and offline channels to optimize the banking process and increase efficiency while improving their capability of omnichannel serving. Therefore, manufacturers with comprehensive solutions and strong capabilities to integrate software and hardware have become the best choice for major banks.

The sales revenue shows GRGBanking still performed the best in 2021, with various machines and terminals installed in Chinese banks. It has been in first place in China's financial terminal market for 14 consecutive years. Cashway and Yihua were in second and third place, respectively.