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GRGBanking rides tide of digital economy

Updated : 2022-05-11

The Huangpu-based GRGBanking has been riding the tide of digital economic development by firmly grasping opportunities brought by digital transformation.

GRGBanking, established in 1999, is a domestic pioneer in the application of artificial intelligence and a competitive solution provider for global customers in areas spanning intelligent terminals, operation services, and big data. 

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A foreign visitor experience a GRGBanking's product. [Photo provided to chinadaily.com.cn]

It started from producing domestic financial self-service equipment and launched an all-around strategic upgrade at the end of 2017 to promote industrial upgrading of traditional industries such as finance, transportation, security, and public services, which are important in people's daily lives and the real economy. 

Chen Rong, deputy general manager of the company, noted that company's revenue in 2021 grew by 5.79 percent to 6.78 billion yuan ($1.05 billion) and over 10 percent of it went to research and development. 

The company now owns a professional R&D group of nearly 2,000 members, and four academicians lead the group from the Chinese Academy of Sciences and the Chinese Academy of Engineering.

Chen noted that the entire process of developing the company's brand-new non-contact temperature measurement intelligent video terminals, from research to market application, took less than 40 days, making it an industrial marvel and demonstrating the potential of youthful technologists. 

When the COVID-19 pandemic broke out in early 2020, young engineers volunteered to form a project group to ensure that this equipment could be used as soon as possible. Group members worked day and night to complete the task, even during the Spring Festival holiday. In Guangdong province, these terminals are extensively used at hospital entrances, metro stations, and office buildings.

The company has also been taking an active role in helping Guangdong develop its rural vitalization and promote the expansion of government affairs services. 

It has allocated 20,000 self-service machines for handling government affairs in Guangdong villages, allowing residents to handle 186 government and financial affairs digitally, such as checking public accumulation funds, printing materials, and checking social insurance. 

Chen spoke highly of Huangpu's ideal business environment, especially regarding the great support for enterprises' innovation. He noted that GRGBanking began constructing an industrial base for new generation AI intelligent equipment in China-Singapore Guangzhou Knowledge City in July 2020. A total investment of around 400 to 500 million yuan has been devoted to the base's construction. 

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Aerial view of GRGBanking's industrial park in CSGKC. [Photo provided to chinadaily.com.cn]

He expected that more policies and industry standards & regulations will be released for the development of core AI technologies in the future. More plans are developed to attract and retain middle-caliber talents to make the company more competitive. 

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