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Asset Tracking | RFID Handheld Readers Track Cashboxes

Shenzhen Chainway Information Technology Co., Ltd (Chainway), provides one of China’s largest banks with RFID handheld readers for its RFID-based cashbox tracking system. The financial institution is hoping that RFID can improve security when transporting cashboxes to its branches. 

Each cashbox is attached with a RFID tag. Chainway RFID handheld readers were used to trace and track cashboxes throughout the bank, as well as in transit between branches. 

In the bank, employee carries Chainway handheld terminal to do inventory checking. Each RFID tag is encoded with a unique ID number. A nearly 100% inventory accuracy can be achieved with the help of RFID handheld readers. 

Before transit, bank manager scans cashboxes at the bank entrance to determine their departure. “The handheld terminal is also equipped with 1d barcode scanner, for our client wants to verify the personnel who accompany the cashboxes by scanning 1d barcode on their ID cards”, says Owen Wu, Chainway’s deputy general manager. Cashboxes often have significant amounts of cash inside. The bank needs to ensure that the cashboxes are handled by selected authentic bank employees and safeguards. 

In transit, each RFID tag periodically emits a signal encoded with its ID number, which is processed by Chainway handheld terminal. The cashbox's location is constantly updated and stored in the terminal, and then is transferred to the bank’s database wirelessly. The bank can know the exact movement of the cashbox for added security. In branches, guards can get ready for the arrival of cashboxes. Mapping information detailing the cashbox’s location is stored in the database as well.

“We believe in finance, RFID will play a bigger role in the future.” Owen comments, “Many foreseeing institutions have already enjoyed the benefits this advanced technology brings to them.” He’s right. With RFID tag and RFID handheld reader, real-time visibility is an easy goal. Knowing where the valuable assets are improves operational efficiency and reduces labor costs since time is not wasted tracking down assets when they are required. It also prevents the unnecessary purchasing of replacements when equipment is just misplaced. 

In Chainway RFID handheld readers in asset tracking
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