By Courtney Mamuscia, Global Communications Director, Verint Video & Situation Intelligence Solutions
Today’s financial institutions face a growing threat of bank and ATM robberies, skimming scams, credit and debit card fraud, and more. Fraud alone costs banks millions of dollars each year, damages their credibility, and increases risk and liability.
Security guards and bullet-proof glass cover the physical side of the equation. However, they only do so much against the sophisticated tactics of modern criminals, which is why an equally sophisticated security system is needed. The newest, most effective technology can help financial institutions stay one step ahead of criminals. Security officials are now able to better prepare for and respond to suspicious behavior, acts of violence and crime, and potential fraud more effectively than ever before.
Financial institutions can leverage video analytics that help security personnel know exactly what they’re looking for amid a daily onslaught of customers, employees and other visitors. Today’s video analytics include loitering detection, objects moved or left behind, lines crossed, and more. Face detection and license plate recognition can also greatly benefit the banking industry. Face detection software alone can help save time by honing in on each visitor’s face, avoiding manual video searches.
However, it’s important to realize that fraud and crime prevention require an analysis of the “big picture” — integrating with all stakeholders, locations, and systems, not just video. Security operators need to pull information from as many sources as possible to know exactly what risks their organization faces.
Today’s intelligent network video recorders (NVRs) with video management software and analytics work to analyze surveillance video, as well as data from transactions, teller stations, license plates, face detection, and ATM activity. This disparate data is then merged and analyzed to give investigators a holistic picture of the bank’s entire enterprise. Even institutions with hundreds or thousands of locations can quickly review video data, control cameras, analyze transaction records, and corroborate different bits of information to speed investigations.
In just one investigation, the ability to tie a piece of video to a particular transaction — rather than manually searching through hours of feeds — can save significant amounts of man hours and dollars. Many manufacturers even offer mobile apps to let investigators view events and video while in the field, helping to provide banking institutions more flexibility and insight than ever before.
With the right technology, banks and other financial facilities can increase their confidence level in their security investment. As future needs arise, they can scale up and add functionality. They will increase their situation awareness, save time and resources, keep false alarms to a minimum, and stay ahead of the bad guys.