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YES BANK Introduces RFID in Retail Banking

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YES BANK, South Extension Branch, New Delhi, introduces RFID Technology for the First Time in Indian Retail Banking.

YES BANK, focused on innovative banking solutions unveiled the first of its kind, 'Bank Branch of the Future' at its South Extension Branch in New Delhi. The Bank Branch of the Future aims to transform retail branches from simple transaction outlets to 'Service Oriented Advisory Centers' thus shifting the focus from providing vanilla transactions to high-end value added services through the innovative use of technology and futuristic branch design.

As a part of the launch, YES BANK introduced the innovative use of Radio Frequency Identification Device (RFID) for the first time in Indian Retail Banking that allows for personal identification of customers at the Branch, thus enhancing customer experience. Specifically, this is achieved by inserting a RFID microchip into the debit card of customers which transmits relevant customer information to relationship managers while the customer enters the branch. This technology is being powered by Skandsoft Technologies.

Some of the high-end technology enabled services available at the 'Branch of the Future' currently includes an Automated Teller Cash Dispenser Machine, Touch-screen Internet Kiosk, Speech enabled voice recognition Phone Banking, Wi-fi connectivity and a Knowledge Cafe amongst other facilities.

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