How Technology Protects Bank Customers, Staff and Funds

Business

Cryptocurrencies, mobile wallets and peer-to-peer sharing are popular financial trends but it’s important to remember that bank transactions also occur in brick-and-mortar locations. Whether customers visit their banking institution to cash checks, request a loan or mortgage or to simply visit the ATM, these customers deserve as much protection as their digital counterparts. Here are a few ways financial institutions can employ technological innovation to their bank security systems.

Video Surveillance

Video surveillance technology has reached a new level of precision. High definition cameras that are connected to cloud technologies make tools like license plate recognition possible. Integrated cloud technologies make it possible to view footage remotely, even from mobile devices. Footage can be archived for later use and it can also be used for security analytics so that your financial organization can determine best security practices and eliminate unnecessary security costs.

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Access Control

Gaining entry to secure spaces can cause workflow interruptions and unintended security breaches. Key fobs, swipe cards and other physical objects can be lost and misplaced. The same is true for passwords. An inattentive human resources employee might neglect to remove a former employee from the access list, or an employee might require removal right away. Cloud computing technologies ease these pain points by providing employees and managers with the access they need via their mobile device. The system is managed remotely, making removal of credentials or additions of credentials swift and expedient.

Audit Reports and Analytics

The benefits of a well-managed access control network go beyond gaining entry to a physical location. A record of entries and exits is essential for the creation of an audit trail. Audit trails are necessary for highly regulated industries like finance. When combined with camera surveillance, an audit trail becomes visual, and potentially even more helpful should a breach occur.

Electronic access control devices can also assist in determining if the right personnel are where they need to be at the right time. As this data is recorded, your organization is collecting information that can be used to analyze high volume hours, staffing efficiency and workflow procedures.

Hosted Services

Mobile flexibility, data collection, analytics, regulatory compliance and security updates are all made easier with cloud-hosted services. Hosted services eliminate the need for on-site servers or software. All security information is streamed to the cloud where it can be readily accessed remotely, while still being transmitted through secure channels. Users can set alarm notifications for remote monitoring and have the ability to retrieve data and analysis when needed. In addition, compliance reports can be regularly scheduled for delivery, relieving some security complexity.

Cloud hosting makes customization simple and cost-effective. Financial institutions need only choose the features that are relevant to their industry and location, deleting or adding services as they see fit.

Despite the rise of digital banking, brick-and-mortar bank locations are still a necessity. Keeping customers, staff and assets secure is an ongoing challenge, but one that technology is helping to mitigate.

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