RFID IN BANKING

Presented By - Nitin GuptaShrikant Abhyankar

RFID TECHNOLOGY

• Transmits the identity (in the form of a unique serial number) of an object or person wirelessly, using radio waves.

• System consists of three components: - An antenna or coil- A transceiver (with decoder)

- A transponder (RF tag) electronically programmed with unique information

• Gained attention because of its ability to track moving objects• Precision to overcome issues like line of sight, memory to

incorporate numerous product details and history

Basic RFID Architecture

Role Of RFID In Banks

• High level client service• Contactless credit cards• Documents containing RFID tags• Time saving for Customer• Better Bank- Customer relationship• More Information regarding customer habits and

interactions or movement• IBM first company to provide RFID solutions to

European Banks

RFID Banking Scenario

• RFID fitted into customer's passbook or bank card.• When entering bank, card alerts a customer

information system.• Bank staff would be alerted of high net wealth

customers and service them accordingly.• Information at teller's screen would allow them to

greet customers by name and have account information ready.

RFID In Payment Programs

• Card is held over a recognition unit• Payment is taken without a signature or PIN• RFID enabled mobile phones – Purchase simply by waving mobile phone in front

of contactless readers – Mobile payments

YES BANK – RFID Enabled

• First RFID enabled Indian bank• Many branches are using RFID Technology• Emphasis on cutting-edge technology• Providing personalized service to wealth customers• RFID enabled passbooks or banking cards• Helping customer relationship management team to

improve service

RFID Banking Cards

• Cards are 13.56 MHz passive RFID chip• Unique ID Number embedded• Information includes the bank patron's name,

account number and photograph• Branch doors have hidden interrogators antennas

installed

• Information captured from YES BANK servers• The pop-up display —at the desk of the greeter, the

branch's "relationship-management team.“• If customer unattended for a predetermined span of

time, the pop-up appears on the branch manager's desktop computer

• Customers recent interactions and habits are known• Customers are given personalized treatment• Total time taken for completion of transaction is also

recorded

Other Banks Using RFID Technology In India

• Standard Chartered Bank – RFID solution for Asset tracking

– RFID employee tracking Real time solution• HSBC Bank India – RFID Document tracking technology and solution RFID Tagged Assets RFID Tagged Documents RFID Transponder at Doors

THANK YOU!