Archive for December, 2008

Bank leaders to address IT asset tracking at Thursday meeting

Thursday, December 11th, 2008

The banking industry is getting serious about RFID technology. Representatives from several major banks are expected to be joined by key players from the RFID industry in Chicago Thursday at a meeting hosted by the The Financial Services Technology Consortium. The FSTC is working with its member banks to determine how to best use RFID. The meeting is expected to cover IT asset tracking exclsuively.


Executives from banking leaders including Wells-Fargo, Bank of America, JP Morgan Chase and Wachovia were all present at the FSTC’s annual meeting in June when ODIN technologies founder Patrick Sweemey delivered a keynote speech on RFID. The group also met several months ago at Motorola offices in Rockville, Md.


The member banks hope to establish a numbering strategy and a performance baseline. The goal is to create an incentive for hardware vendors such as Dell, HP, and others to pre-tag and pre-number assets prior to shipping. HP already offers this service. According to the FSTC’s web site, by sponsoring the benchmark FSTC will accomplish two important goals:

1)    Define a science based solution which any tag vendor can test to for performance certification.
2)    Establish a leadership position in catalyzing hardware vendors to action in support of FSTC members and create an impetus for standardized RFID tagging for the industry.