Why video surveillance is the key for financial security?

by Calvin on April 23, 2021

in Articles

The BFSI industry has been an advocate for the installation of video surveillance solutions when it comes to securing their premises, not just from external threat but also internal mismanagement. This industry has only witnessed a growth in the threats it faces on a daily basis and technology used has only seen an upgradation. The constant rise in the number of thefts and fraudulent transactions in ATMs and bank branches has driven this industry into a more automated and technologically driven strive for bank security.

Video surveillance systems help in creating a secure and consumer friendly environment, while at the same time aiding the institution in improving its operations. Today, the security systems are not merely devices to record and scare off intruders, but mechanisms for one to truly gain insight into their business. What goes on, how its done, who does what and for how long, anything and everything can be captured, to the preference of the authorized user. 

Today, the video surveillance solutions, equipped with AI and ML technology helps banks keep a check on all their branches and ATM slots, monitor the activities of their employees and stay alert and equipped to square up to situations of jeopardy.

Why it’s the rave:

  • Security 

Video surveillance systems have been a growing need for all major industries, especially those dealing with high end assets and capital. Banks and financial institutions employ this system of security to monitor the activity of all the branches and ATM units and potentially deter any fraudulent activities. 

  • Integrated system

This IoT based solution for security allows user to monitor all the branches, ATM units and currency chest from an integrated platform. User can view and retrieve live footage or historical footage, whichever they may require. Engagement and disengagement of certain devices can be altered right from the platform.

  • Absolute control

The e-surveillance solution allows user to have absolute control over what happens in their premise. From monitoring the devices and receiving notifications to deploying commands and validating alerts, all of this can be done by the authorized user. However, there can be a number of users, each receiving some part of the data, with accordance to their role. 

  • Comfort and confidence

Banks and financial institutions are a safe sanctuary for a lot of customers who entrust them with their assets. On the part of these institutions, it becomes rather necessary, to employ security solutions that would elevate customer’s comfort and confidence in the institute, thus building potential and public confidence.

What makes it the ultimate security solution?

  • Deter crime and fraud

Video surveillance systems, provide banks with the necessary amount of control required, for it to be entrusted into being the safeguard of assets by the public. Being financial institutes, these premises are always at high risk of being broken into. IP video surveillance systems with advanced video analytics are a big aid in establishing fraud checks at banks by recording transaction data and capturing images of offenders.

  • Assistance in Investigation

No security system can guarantee a 100% success rate when it comes to unprecedented situations, however the IP based video surveillance systems can assist in providing video evidence to the law enforcement in situations like robbery, theft, pilferage or vandalism. With the real time alerts and facial recognition systems, these are not only beneficial in deterring crimes but also help in assigning accountability.

  • Multiple site view

When it comes to securing a bank, it includes more than just installing the security system, the major part of it all is how effortlessly the user can access the footage of all the sites. Employers, having complete visibility of all sites on a single integrated platform, can easily monitor and control everything that takes place in their premise swiftly and cost effectively.

  • Camera and sensor integration

New age security solutions facilitate the integration of smart devices with alarm systems on a unified network. The data and notifications from all the cameras and sensors can be assessed and commands can be deployed from the same platform.

  • Remote access

The IP surveillance allows for remote monitoring of live and archived footage from any computer or smart device with an internet connection. The data collected from all the sensors and cameras across all the sites can be accessed at the unified platform at any point in time, which assists in restricting impermissible undertakings.

  • Customer experience

The major concern for a customer entrusting their hard-earned money to a financial institute is just how secure its premise is. Just like the presence of a security system is often enough to deter frauds and crimes, it also gives the customers a sense of security. Walking into a branch or ATM with well equipped and maintained surveillance system, greatly adds to the customer’s experience of visiting the unit.

  • 24*7 surveillance

While financial institutions are always at a risk of intrusion, it is after hours that the risk intensifies, making it an absolute necessity for these institutions to invest in e-surveillance systems that provide round the clock security along with a 24*7 vigilant command center.

  • Efficient operations

This IoT based solution, not only keeps the enterprise safe and secure, but also improves the efficiency of the operations. The constant scrutiny of the premise pushes employees to work properly and at the same time ensure the health of active machinery. Intelligent security cameras with video analytics and advanced sensors i.e., vibration, motion, glass break, smoke, heat detection etc. can be used to effectively identify and deter suspicious or abnormal activity in and around the bank. 

  • OTP based vault access

A major part of providing security to a financial institution is to make it nearly impossible for unauthorized personnel to get access into the vaults of the banks. To ensure that these remain out of reach, the surveillance system equips vaults with OTP based access points. For any employee to unlock these vaults, the issuance of a one-time password along with a detailed verification process is obligatory. 

  • Benchmark conformity 

  When it comes to security, the premise is not only faced with external but internal             threats. The e-surveillance system with its scheduled snapshots, variety of sensors, facial recognition system; ensures the employees’ conformity to certain performance standards as well as deters them from indulging into any suspicious activities in the fear of being identified and caught. 

  • Safe storage and retrieval 

One major backdrop of traditional CCTV cameras and security systems is their local storage of data into a portable hard drive. Breaking into a bank’s vault that is protected by nothing but an analog camera wasn’t enough to deter criminals as they would easily extract the hard drive resulting in complete loss of data. The data stored over cloud with today’s AI technology facilitates the safe storage and retrieval of footage anytime, anywhere.

Conclusion

Video surveillance solutions have been playing a major part in improving and managing the overall functionality of banks and financial institutions for the past few years. 

All major industries today, especially the ones dealing in expensive assets, know just what a video surveillance solution can do for their facilities. Especially when it comes to financial institutions, safeguarding their essential assets and capital, the need for a live security system cannot be emphasized enough. While investing in such an elaborate system might seem expensive, it assists in reducing the overall operational costs of a business in the long run and let’s not forget, improving the efficiency of the business. With the number of benefits that come with indulging and investing into an e-surveillance bank security system, sitting out with this trend doesn’t sound like the most thought-out idea and should probably be reconsidered.

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Sophia William June 22, 2021 at 09:50

These are some great points that you have stated here! I do agree with the fact that video surveillance can help in identifying crimes and frauds easily. However, having a trusted security guard service also goes a long way, as it can help your business from thefts and robbery. FBY Security Services is a fully insured, bonded, and licensed by NYS Division of Licensing Services. Their goal is to provide all of the customers with superior guard services at reasonable rates.

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