RFID proposed for VIP banking experience
NCR has been demonstrating at the RBC Financial Group Applied Innovation Symposium in Canada how RFID (radio frequency identification) technology could be used to make branch banking a more personalised experience.
NCR's new concept for the bank branch is the RFID Branch Portal, an archway equipped with RFID readers that scan information from RFID microchips embedded in a bank card, cell phone or personal digital assistant (PDA).
Know thy customer... in real time With this permission-based, in-branch service, a customer's information could be sent electronically to the branch-counter staff, branch manager or loans officer, alerting them that a special customer has just entered the branch.
According to Mark Grossi, chief technology officer for NCR's Financial Solutions Division, "RFID dates back to the early 1940s, but only in the last few years have we begun to see the real potential for this technology. Within the banking sector, RFID technology could be used to enhance the consumer experience in the branch, and also allow banks to deliver more personalised VIP service - when it is most relevant and valuable to the customer."
RFID-enabled customer service RFID is already in millions of payment cards, and it's a short step to being able to use that chip to allow counter staff to address the customer by name or provide no-queue service for special customers.
Other examples of the technology's usage might involve a branch manager using the alert signalled by the card to remind customers that their term deposit is maturing shortly, and to give them an opportunity to discuss various reinvestment options during their branch visit. Or perhaps a customer's pending car loan application has just been approved, and the customer could be invited to complete the paperwork on the spot.
"RFID technology has the ability to take customer service to the next level by personalising the relationship consumers have with their banks. Along with increased customer service, the RFID technology implementation will be designed to ensure that consumer privacy and security are safeguarded," explained Grossi.