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The European bank Rabobank has deployed an RFID-based cash-in-transit solution from TagSys in 200 of its branches in the Netherlands, allowing the bank to conduct person-independent cash deliveries.
Historically, the transfer has required a personal transaction between a Rabobank agent and a cash-in-transit employee. Limited availability of employees at designated locations makes it difficult and time-consuming to organise the cash deliveries.
But with the deployment of the RFID-based system, used in conjunction with CaptureTech's SealTrack software, the need for physical interaction during a cash delivery is eliminated. This allows for a secure handover during the day with minimal intervention being required by bank employees. The new system means that Rabobank is now able to create a wider window of time for cash deliveries.
How it works
The application uses high-frequency RFID tags embedded in bank seal bags that can be identified by RFID readers installed inside the bank's network of 200 safes. When a cash-in-transit employee delivers the money via seal bags, the RFID reader identifies the tag from within the metallic environment, confirming the bag's arrival.
Previously, bank employees had to be physically present to receive the monetary transfer and provide the cash-in-transit employee with a receipt confirming the completed transaction.
According to Elie Simon, CEO for TagSys, "When partnering with CaptureTech it was our intention to develop a complete solution for the banking industry that would increase the efficiency and security of cash-in-transit transfers."
For additional information:
· Visit TagSys at http://www.tagsysrfid.com
· Visit CaptureTech at http://www.capturetech.nl
Sources: TagSys; CaptureTech
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