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Article: Smart card a secure access ramp for Royal Bank's clients. (Management Strategies: Using Information to Increase Profits)
- Article from:
- American Banker
- Article date:
- November 7, 1994
- Author:
CopyrightCOPYRIGHT 1994 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Like many other banks, Royal Bank of Canada has been grappling with how to provide its corporate customers on-line access to account information while insuring a high level of security. The Montreal-based banking company has solved the problem with smart cards. Similar to a credit card, a smart card stores information on a microprocessor chip located within it and allow users to transmit data with complete security. Through smart card technology, the $123 billion-asset bank can offer corporate customers from retailing, fast food, and utility companies an efficient and secure access ramp to their accounts, while collecting fee income associated with the cards and related ...