Basingstoke, UK – September 24, 2018 Glory has risen to number twenty in the 2018 IDC Fintech Top 100, announced at an invitation-only event at Finovate Fall in New York today. 2018 is the third year Glory has applied for inclusion, entering the rankings at 24 in 2016. In the three years it has been included in the list, Glory has consistently been the highest ranked company focused on cash technology solutions.
The annual rankings serve as a de facto resource for banks, insurance companies and capital markets firms making IT purchasing decisions. The IDC Fintech Top 100 includes vendors that derive more than a third of their revenue from financial institutions.
Glory works to engineer solutions that accommodate changing customer behaviour towards their banking service providers. Digital transactions are increasing, and banks are adapting with responsive services in these channels. Still, most banks recognise the continued importance of the branch as part of their omnichannel service delivery strategy. This is the environment in which Glory operates. By optimising operational processes, particularly those that involve management of cash, Glory’s solutions optimise operating costs, make best use of physical space in facilities, and enable highly personalised customer experiences.
Cash remains important, accounting for around 80 percent of transactions worldwide. Recent research from McKinsey & Co ("Attacking the costs of cash" - August 2018) has demonstrated the continued importance and cost of cash processing to retail banks. The research article stated that cash costs still account for 5 to 10 percent of bank operating costs and concluded that 'targeting cash costs will be crucial for financial institutions looking to stay competitive'.
In the context of retail bank costs and the significant portion accruing to the processing of cash, Glory has helped financial institutions in more than 100 countries lower cash management costs in customer facing and back office areas as well as enabling logistics savings, through introduction of staff-operated and self-service cash recycling, depositing, sorting, and packaging technologies.
Mike Bielamowicz, Chief Marketing Officer at Glory said, "We are delighted to have achieved our highest position to date in the IDC Fintech Top 100 Rankings. At Glory we recognise banks need innovative and effective solutions to address a fast-changing financial environment. Our solutions portfolio continues to expand to meet those needs, and now includes Teller Automation technologies, Assisted Service systems, solutions that enable back office optimisation, and the business intelligence tools our customers need to make smart branch and network configuration decisions."
But that's not the only reason for Glory's success. Bielamowicz explained, "Glory knows cash and our wide experience across many business sectors enables us to bring an unrivalled breadth and depth of knowledge to the provision of services our customers need. Our experience of working with customers in the retail and CIT sectors gives us insights into how banks interact with them as customers or cash partners and better enables us to meet their needs across the entire cash cycle".
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As a global leader in cash technology solutions, we provide the financial, retail, cash center and gaming industries with confidence that their cash is protected and always working to help build a stronger business.
Our cash automation technologies and process engineering services help businesses in more than 100 countries optimize the handling, movement and management of cash. While we span the globe, we personally engage with each customer to address their unique challenges and goals — enhancing staff efficiency, reducing operating costs and enabling a more rewarding customer experience.
Employing over 9,000 professionals worldwide with dedicated R&D and manufacturing facilities worldwide, GLORY is built on a rich customer-focused, technology-driven heritage spanning almost a hundred years.
For further information please visit www.glory-global.com or follow us on Twitter: http://twitter.com/glory_global.
Director of Global Marketing
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