RFID Chips Spell End to Branch Lines for High-Value Customers

by Mercator Advisory Group 0

Personalized service in the branch has a new wrinkle with the introduction of RFID chips to identify high-end customers when they enter the branch so they can be singled out for individual service.

Standard Chartered is issuing RFID chips to select customers at its newest Korean location, eliminating the need for affluent individuals to wait in lines at the branch. When a customer holding an RFID tag enters the facility, the system immediately notifies the branch manager and a relationship manager who can greet the customer personally at the door.

The RFID units won’t be available to just anyone. Only those in the bank’s top three banking tiers will be given special RFID treatment. Recipients will be hand-picked from a select group of Standard Chartered’s Preferred Banking, Priority Banking and Private Banking customers. Preference will be given to those who visit the branch frequently, are open to new technology, and have a strong relationship with the bank.

The prototype branch also features iPads for staff/customer engagement, digital signage and marketing materials, video conferencing, digital whiteboards, and an internet kiosk.

For more information, please read the article from the Financial Brand at: http://feedproxy.google.com/~r/thefinancialbrand/~3/TdLNgy1Wn2U/

Additional information on the use of RFID tags at branches can be found in this article that discusses Yes Bank’s (India) implementation of a similar system in 2008 http://www.rfidjournal.com/article/view/4381/1