RFID being used to give preferential treatment to rich clients in Indian banks

Filed in archive Implementation on October 14, 2008

India is growing like never before and so are its people. The country has got thousands of millionaires which are estimated to be more than the figures of some of the European countries combined.

If you are a millionaire (hopefully I will be one somebody) you are bound to get preferential treatment (after all money commands power). Now Yes Bank which is a commercial bank operating out of India has been piloting an RFID system so that bank employees can identify these rich fat customers and offer them personalized services. Under the pilot RFID banking cards have been offered to select customers apart from deployment of RFID interrogators and customized gate antennas at bank premises.

The RFID pilot is being conducted at branch located in one of the posh localities of Delhi and obviously these rich clients expect richer services from these banks too. The moment the elite customer arrives in the bank his details are flashed on the system which enables the relationship team to identify the concerned person so that they can accord him services in the best possible manner.

With financial crisis already looming over America and with other countries bound to face the repercussions, servicing rich clients in 'Maharaja Fashion' could be one of the best possible ways to remain liquid for these financial institutions.