SMART deposit uses RFID (Radio Frequency IDentification) technology to store valuable information about the deposit for both customer and the FI (Financial Institution). This data can be tracked throughout its entire journey.
The SMART deposit bag containing the RFID tag, or an RFID key fob is read easily by a non-contact receiver on the PIM (Pay-In Machine). The system registers the information from the tag or key fob and data from the SMART deposit can be sent to the FI immediately.
SMART deposit is also intelligent deposit since it secures the transactions for FI’s and their customers. Data is available for ensuring secure tracking of deposits through to the processing centre
The SMART deposit simplifies and shortens the cash handling process. Counting at this stage is done only to verify the customer’s data.
Benefits
- Faster self service deposits
- Increased security
- Valuable deposit information is registered immediately and securely
- Improved cash supply chain visibility
- Greater accuracy of deposit data
- Allows flexibility in the cash processing system
