TAGSYS RFID Systems Adopted By Rabobank for Cash-in-Transit Management Solution

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Enables secure cash delivery anytime, anywhere with minimal bank intervention

level RFID infrastructure, announced today that Rabobank, one of the world’s largest banks and Europe’s largest Internet bank, has successfully deployed an RFID-based cash-in-transit solution in 200 of its branches in The Netherlands. The application, a first of its kind on the market, will enable Rabobank to conduct person-independent cash delivery, allowing for more efficient cash deliveries.

Historically, the transfer has required a personal transaction between a Rabobank agent and cash-in-transit employee. Limited availability of employees at designated locations made it difficult and time consuming to organize the cash delivery. With Rabobank’s deployment of TAGSYS’ RFID-based systems, 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 required by bank employees. By deploying TAGSYS’ and CaptureTech’s joint item-level RFID solution, Rabobank is able to create a much wider window of time for cash deliveries.

The application consists of high-frequency (HF) RFID tags embedded in bank seal bags that can be identified by TAGSYS’ readers installed inside the bank’s network of 200 safes. When a cash-in-transit employee delivers the money via seal bags, the TAGSYS 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.

“TAGSYS has a strong track record of successfully deploying item-level tagging in select vertical markets; when it came to developing an application addressing the banking industry’s requirement for an RFID-enabled cash-in-transit management solution, they were our leading choice for a collaboration partner,” said Sander de Ridder, Managing Director, CaptureTech.

TAGSYS created this application based on the company’s experience with tracking and tagging at the item-level. TAGSYS’ item-level RFID solutions are developed according to the company’s RAS (Reliability, Accuracy and Security) design and production philosophy that achieves virtually 100% readability of HF RFID tags with a failure rate of less than three out of a million tags that are manufactured by the company.

“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,” said Elie Simon, CEO, TAGSYS. “TAGSYS has a rich heritage in providing select market sectors with RFID systems and tags, so it was a natural move for us to supply Rabobank with the world’s first solution of this kind.”

About TAGSYS

TAGSYS is the global leader in item-level RFID infrastructure. TAGSYS RFID provides RFID systems for end-to-end item-level tracking that automates labor-intensive processes, authenticates and safeguards goods, and enables real-time inventory and asset visibility. With a proven track record of delivering Reliable, Accurate and Secure (RAS) RFID systems and tags, TAGSYS has deployed over 50 million tags and 50,000 reader systems to over 500 customers in more than 40 countries. TAGSYS RFID solutions are currently being deployed in a range of highly specialized vertical markets that include pharmaceutical, fashion apparel, libraries, and textile rental. The company is headquartered in France’s Smart Valley with offices in the USA (Doylestown, Pennsylvania) and Asia (Hong Kong). More information on TAGSYS can be found at http://www.tagsysrfid.com.

About CaptureTech

CaptureTech is an international, independent specialist in the area of Automatic Identification. The company designs, develops, implements and maintains integrated solutions for logistic applications, whereby they use the most advanced techniques in respect of Barcodes, RF, RF ID and Voice Recognition. CaptureTech’s aim is to provide long term, viable and solid solutions with a high return for its customers. They can offer these solutions by focusing on innovation, quality, reliability and service. CaptureTech hence provides its customers with an optimal system that supports their business needs in a powerful and efficient manner which results in a competitive advantage. More information on CaptureTech can be found at http://www.capturetech.nl.

TAGSYS Media Contacts

Europe

Angeline Fraud

Phone: +33 4 91 27 57 56

Email: angeline.fraud@tagsys.net

North and South America

Ken Reich

Toll Free: +1 877-550-RFID

Email: ken.reich@tagsys.net

Asia Pacific

Sherman Wong

Phone:    +852 2526 7984

Email: sherman.wong@tagsys.net

Bite Communications

Jessy Adams

Phone : +1 212-351-5057

Email: jessy.adams@bitepr.com

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