September 26, 2005
ICFCS
The banking sector is looking up to RFID to try and increase the automating of manual processes. RFID-Solutions is a Danish company, which has developed a smart night deposit box aimed at improving the security and efficiency of night depositories.
The labels on the bags will have RFID tags integrated into them; this will facilitate automatic registration and calculation of the amount in the deposit bags. The Intelligent Cash Flow Control System (ICFCS) developed by RFID-Solutions increases the security levels for cash-in-transit and banks and at the same time it increases the efficiency of the processes.
It adds to the information that banks have about their customers, customers need not remember or carry a PIN code, the customer is recognized on the basis of the serial number on his deposit bag. The RFID-enabled deposit systems can also provide a receipt of the transaction, which is not possible with the conventional deposit boxes. The receipt acts as a guarantee that the customer’s deposits will be accounted for; if he chooses, a customer can also receive an electronic receipt, i.e., an SMS or an email that is encrypted.
The system is flexible enough to satisfy even the most complex book-keeping requirements. The ICFCS system gives a 100% read-rate even inside the steel deposit boxes as it is covered with a special shield.
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