Investing in your own peace of mind: how video surveillance solutions help ensure banks security
Specialized magazine “Settlements and operational work in a commercial bank” in its April issue published an article “Modern possibilities of video monitoring: what an “intelligent” system should be able to, “prepared by the head of the Business Development Department of BS/2 – Daniel Fukson.
Among other things, the article explains in detail how and why modern banks should protect their self-service devices (ATMs, payment kiosks, and other terminals) using modern security solutions, for example, the ATMeye.iQ system.
What to expect from the solution provider?
From the point of view of business optimization, it is very achievable to protect up to several thousand ATMs with modern software within the same network. In recent years, the software applications for ATMs have been developing particularly actively. The basic functionality of self-service devices does not satisfy all the needs of banks for a long time. Financial institutions strive, on the one hand, to provide the customers with additional services: the ability to pay for various services, make currency exchange and other operations, and on the other hand, to spread targeted advertising during the execution of standard operations on the ATM.
In this situation, the video monitoring system should be fully compatible with the latest version of the software application for self-service devices, protecting the bank’s customers’ equipment and personal data, regardless of the ATMs’ type and models. The business model of interaction with the software provider also plays a big role. The distribution of software licenses for self-service devices directly from the server provides partner banks with a tool for easy software license management. It makes their relationship with the software provider more transparent. Besides, this functionality allows you to manage the delivered software more effectively and reduce the solution’s cost.
ATMeye.iQ functionality scheme
What banks’ problems could be solved using video monitoring?
Let’s list a few particularly acute problems that could and should be resolved with the help of different types of ATM video monitoring:
1. Settlement of disputable situations when the ATM did not give the client the entire requested amount. This could be a fraud on the client part: he took some of the money, left the rest “as if he had not had time to pick up,” and they allegedly got into a special “reject/retract” cassette or, in fact, the total amount for some reason was not issued. In this case, the installed shatter’s camera will help you figure out what came wrong.
2. Data Comparison. CCTV systems can provide a photo and video recording of events occurring during any operation with devices using digital technology. Snapshots are overlaid with timestamps and pieces of evidence, which are very useful in searching for video materials concerning specific banking transactions and individuals’ images.
3. More effective response. Thanks to modern technology, ATM security cameras, and alarm systems can be integrated into a single network. The software provides several scenarios for responding to various criminal actions such as using a counterfeit card, closing a camera, an attempt to install a skimming device, the tilt of the ATM, and attempts to steal it. Still, in any case, an alert is sent to the monitoring center.
4. Providing information about criminals. Correct setting up of a bank’s video surveillance system can help prevent illegal actions or, if they happened, provide a fixed photo or video images to security services and law enforcement agencies.
5. Centralized system of video surveillance. Modern video surveillance systems allow the transfer of information from many data sources to the monitoring center, thereby facilitating customer service centers, security services, system administrators, and service providers.
6. Recognition and use of images. CCTV systems with advanced video analytics and biometric data can identify individuals from the “blacklist” or criminals.
7. Prevention of threats. AI-software of video surveillance systems with functions of face recognition, movement, and behavioral characteristics can be effectively used to detect suspicious or abnormal activity, thus helping to protect bank assets and bank customer data.
8. Increase customer loyalty. The safer the bank, the more confident its customers are. An effective bank’s video surveillance system plays a great role in increasing the security sense and, thus, loyalty. Statistics state that if a card is stolen or the account is hacked, 40% of customers do not use the newly issued bank card, and the bank thus loses the customer (Diebold Nixdorf, 2017). Even though video monitoring systems cannot physically prevent the breaking of databases, they effectively identify criminals and use stolen card data through ATMs.
The full version of the article “Modern video monitoring capabilities: what a” smart “system should be able to do” is available on the journal’s website in Russian. More information about the ATMeye.iQ solution can be found on the product page or by consulting our specialists.