Case Study: FOYCOM RFID-driven Automation For Financial Institute Managing Large-scale Document
About Financial Institute Work Process
A major US financial institution managing millions of physical customer documents faced challenges in tracking, retrieving, and auditing files across a sprawling warehouse. FOYCOM implemented an RFID-based automation system integrated with their existing warehouse management software, dramatically improving efficiency, compliance, and scalability. The solution reduced document retrieval time by 70%, eliminated manual errors, and ensured real-time audit trails for regulatory compliance.
Client's Background
The Fortune 500 financial services stored over 5 million physical documents (loan agreements, KYC records, contracts) in a 100,000 sq. ft. warehouse located at multiple locations. Manual processes led to frequent misplacement, slow retrieval times, and compliance risks during audits. Their legacy WMS lacked granular tracking capabilities, relying on barcodes and spreadsheets to map documents to containers (boxes) and locations (racks/drawers).
Challenges Faced By Financial Institute Managing Documents
Inefficient Retrieval
Employees spent 20 minutes per request searching for files.
Compliance Gaps
Inaccurate logs failed to meet SEC and GDPR requirements for audit trails.
Human Errors
15% of documents were misplaced annually during storage/retrieval.
Scalability Issues
Manual processes couldn't support a planned 30% YOY document volume increase.
FOYCOM RFID Solution For Document Tracking
FOYCOM deployed a multi-layered RFID tracking system(FOYCOM Cloud) integrated with the warehouses. Key components:
RFID Tagging
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Documents: Passive RFID tags with unique IDs embedded in file covers.
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Containers: Tags assigned to boxes/shelves holding up to 100 files.
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Locations: RFID readers installed at racks, drawers, and entry/exit points.
Automated Workflows
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Storage: Files scanned upon arrival; WMS auto-assigns containers/locations.
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Retrieval: Handheld RFID scanners pinpoint files within seconds, eliminating manual searches.
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Audit Trails: Real-time logs track who accessed files, when, and for what purpose.
Dynamic Re-Mapping
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RFID readers automatically update the WMS during document relocation, ensuring accurate real-time inventory.
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Integration with the Legacy system used by the client.
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FOYCOM RFID Cloud connected RFID data to the client's WMS dashboard for a seamless user experience.
Implementation Process
Phase 1
Pilot tagging 50,000 documents in a high-priority section 3 weeks).
Phase 2
Full-scale deployment across the warehouse 4 months).
Training
On-site workshops for 200 staff on RFID scanners and updated workflows.
Results That Financial Institute Achieved
70% Faster Retrieval
The average retrieval time was reduced from 20 minutes to 6 minutes.
99.8% Accuracy
RFID eliminated misplacement errors.
Full Compliance
Automated logs met SEC, GDPR, and internal governance standards.
Scalability
The system supports 10M documents with zero added labor costs.
ROI
4-month payback period via reduced labor and compliance penalties.
Client Feedback
Conclusion
FOYCOM RFID automation enabled the client to future-proof its physical document management while meeting stringent regulatory demands. The solution is replicable for government agencies, healthcare providers, and legal firms managing large-scale physical records.
FOYCOM specializes in RFID and IoT-driven automation for warehouse and inventory management. With deployments in 19+ countries, we empower industries to digitize physical assets with precision, from documents to industrial equipment.