China Construction Banks, China Communication Banks, Guangdong Development Bank, China Industrial Bank and the Agriculture Bank of China will all be using TSSI’s DeedMark foil in passbooks given out to customers.
Together, the banks have an estimated 455 million savers registered with them.
Hard-coding
DeedMark aims to prove the authenticity of bank passbooks by hard-coding batch numbers into the foil during the manufacturing process. To validate the passbooks, bank staff simply swipe them through a reader.
The foil is made in the UK before being sent to Shenzhen TSSI Systems – the company’s joint venture in China since October 2007- for slitting and assembly into bank passbooks.
“TSSI is delighted with what it has achieved in China in a relatively short period of time,” said COO Stewart Hefferman.
“While it took a considerable amount of time to set up the joint venture the market opportunity is massive, and is already paying dividends.”
Banks can order the foil in black, silver, gold or “colour shift”.