HSBC INDIA, provides Secure Storage facility through third-party vendor for its high-value mortgage documents that are processed across the country.

HSBC Bank INDIA had too many bottlenecks as stated below in their current document management system. After a detailed study by the ICEGEN's RFID expert team, ICEGEN strongly recommended RFID Technology to fix the bottlenecks; RFID Document tracking technology and solution would enhance and control their document management system, provide additional security and provide better track and trace of critical documents.

Bottle-necks:

• Inability to track documents within stipulated amount of time can have unfavorable impact on the business.
• Monetary and Legal implications in case legal or housing loan documents are lost. It could also result in loss of goodwill, negative impact on brand equity and legal pursuits.
• Unproductive utilization of labor: Avoiding manual searching and sorting through cabinets save good amount of valuable employee time.
• Reduced customer satisfaction result when documents needed to service a customer, cannot be traced/ found. At times, the lost/misplaced document took days to locate.

ROI by Implementing ICEGEN RFID solution

• Improved operational efficiency by reducing the amount of time required to track and trace a document.
• Taking stock and reconciliation is much quicker than manual process. (5000 files at a span of 45 minutes).
• Better security control by providing automatic vigilance on document moving outside restricted area.
• Much easier to find a specific document incase it's misplaced. (10 minutes to locate a file misplaced among 5000 files)
• ICEGEN RFID solutions facilitate online data capturing, improved Traceability and know about document genealogy (process back track).
• Data is captured online and directly updated to the backend MIS, avoiding data entry, delay in data processing and facilitate instant data access at any point of time.
• Reduced manual supervision

The above RFID solution for the Bank in INDIA is now used as a case study for many of our clients and prospective leads world over.

RFID Tagged files in shelves
RFID Handheld reader is used for tracking of documents and also for Inventory.