|Agricultural Bank of China Case Study|
Agricultural Bank of China
Customer: The Agricultural Bank of China is a publicly traded commercial bank in the People’s Republic of China. With headquarters in Beijing and branches throughout Mainland China, Hong Kong, and Singapore, the Agricultural Bank provides comprehensive financial services for 3.5 million personal customers, 9.7 million VIP customers, and more than 260 million enterprise customers around the world.
Challenge: At banks, money sorting, organization, and storage is often a labor-intensive, error-prone process that can lead to security risks. Money entering the bank must be sorted, counted, bundled, bagged, and then put into a secure vault, all with multiple security checks along the way. When assets leave the bank, money bags must be retrieved from the vault, counted, any discrepancies noted, and then dispersed to the appropriate recipient, with all transactions accurately recorded.
The Agricultural Bank wanted a way to automatically identify and inventory their assets to reduce errors, improve efficiency, and increase security. To accomplish this task, they contacted Hefei Jinyi Intelligent Technology Co., Ltd. for help in creating a more efficient method.
Benefits: The RFID-based bank asset monitoring system provides unique identification for each bag of money, and because the Impinj technology-based solution provides excellent label recognition, the solution has greatly enhanced system reliability. With the increased granularity of identification combined with the centralized management system, bank authorities can readily trace the movement and amounts of money circulating through their facilities. The more automated system provides effective monitoring of both the bill delivery process and storage, which has increased bank security, decreased labor effort, diminished errors, improved quality, and reduced costs.