TSSI Systems, the document and personnel identity product firm, announced that five major Chinese banks are now using its products to protect their bank passbooks via Shenzhen TSSI Systems, its Chinese joint venture.
The new customers are China Construction Banks, China Communication Banks, Guangdong Development Bank, China Industrial Bank and the Agriculture Bank of China. Each bank is using TSSIโs DeedMark document security foil in bank passbooks for their customers in China. TSSI estimates that the five banks have a total of 455 million customers between them.
About the product
DeedMark proves the authenticity of a bank passbook, preventing counterfeiting and fraud, by using either a batch number or incrementing number hard-coded into the foil at the point of manufacture. To validate a DeedMark protected document as authentic, bank passbooks are swiped through a reader which then authenticates the foil as genuine and displays the number embedded within the foil. The DeedMark foil is initially made at TSSI’s premises in the UK before being sent to Shenzhen TSSI Systems for slitting and assembly into bank passbooks. The foil is available in black, silver, gold and colour shift to enhance the aesthetic appearance of a document. TSSI formally established its joint venture in China in October 2007.
What they say
โTSSI is delighted with what it has achieved in China in a relatively short period of time. While it took a considerable amount of time to set up the joint venture the market opportunity is massive, and is already paying dividends,โ said Stewart Hefferman, COO, TSSI.
