Banking

Application of PUF-Enabled RFID Tags in Electronic Banking

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Executive Summary

Emerging e-banking capabilities such as automation, optimization of internal processes, access control to resources, costs reduction, increasing competitiveness and customer relationship management has encouraged many reputational financial organizations. One of the proposed technologies in e-banking is the application of RFID. RFID is an electronic tagging technology, which can provide a digital identity for an object. This technology uses radio frequencies to exchange data between a tag attached to an object and a reader. RFID tags can be active or inactive. Passive tags are inexpensive, low range and with no internal power supply. Active tags are more expensive, with higher range and internal power supply. Data storage can typically range between 32 to 256 bits in passive tags and several mega bytes in active ones.

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