What Is the Best Type of Security System for Banks? The Benefit of Video Analytics

Surveillance is vital in both internal and external banking investigations, but it can be cumbersome to parse through thousands of hours to find the right footage. The ability to effectively tag and categorize that information will determine how effective these investigations are. This is where video analytics comes in, something even the most comprehensive bank security systems may have overlooked.

How Video Analytics Provides Actionable Info for Banks  

Today’s financial institutions face a new host of threats due to advances in technology. A recent example occurred in Hurst, Texas, where a bank discovered a skimmer installed on one of their ATM kiosks. Skimmers allow users to collect and exploit customer banking information by recording their card details and PINs, and these devices are surprisingly accessible even for the non-tech savvy. Just about anyone can find one for purchase after a few moments of scouring the darknet. On top of that, individuals using skimmers are difficult to catch, as often these devices may stay installed for months without anyone noticing. By the time someone discovers the skimmer, it’s possible any prior banking surveillance data has been erased or taped over.

However, in this case, a sharp-eyed employee noticed the skimmer relatively quickly and was able to alert law enforcement. Thanks to surveillance, they were able to discover a video of a woman installing it, which will be used to assist them in arresting the parties involved.

Cases like this serve as a prime example of how helpful video analytics can be when used in conjunction with an integrated security system. A surveillance system with automatic video tagging, for example, could take a video and make a note any time someone uses an ATM without making an actual transaction, like checking their bank balance or taking a withdrawal. Security can then review these videos, locate and remove skimmers faster, and improve their conviction records in these cases.

Skimmers aren’t the only instance where analytics will be useful. Video tagging can also offer a form of predictive analytics that banks can use to stop crime proactively. An individual loitering in the bank’s lobby for a long time or an employee who suddenly starts accessing the premises during their off-work hours are examples of concerning behavior which can be proactively tagged and monitored via surveillance. Such analytics are made possible by integrating banking security systems to allow each program to feed information to others.

Types of Security Systems for Banks for Supporting Video Analytics

The ability to use video surveillance proactively requires tying in different types of bank security systems. By connecting these various programs, banks can actively tag their video and make it easier to manage for investigating and preventing crimes. Some of these systems are currently available, while others fall into the realm of emerging tech, such as:

  • Access control: Access control can connect with video analytics programs to help tag employees and other involved parties in surveillance footage. This process makes it much easier to locate the necessary footage and investigate cases of internal theft and fraud. Through tagging, it’s possible to identify everywhere an employee went on any given day in the event of an emergency.  
  • License plate recognition: The ability to recognize, record and locate license plate information via surveillance cameras is especially useful in instances like the above-mentioned case of the fraudster using a skimmer. Had the bank been outfitted with a license plate recognition system, law enforcement would be able to locate the perpetrators much more easily.
  • Artificial intelligence: Artificial intelligence programs are becoming a significant game-changer for surveillance and video analytics as they leverage data to predict future behavior.  Such programs could pinpoint behaviors like someone casing a bank for a later robbery or an employee helping a third party commit fraud. In the years to come, AI-based video analytics will likely play a crucial role in bank security by proactively helping them prevent crimes.

It is easiest to tie video analytics into security systems that are integrated. By connecting all their surveillance, access control, critical communications and more, banks can better understand who is on their premises and why. They can even monitor remote locations like ATM kiosks and cut down on the risk of skimmers. Integration is the tool which will make these advanced bank surveillance systems possible, as it supports analytics and provides real-time, actionable information.

3Sixty Integrated helps our clients in the financial sector by providing integrated security programs which support intuitive surveillance analytics. Our SiteOwl software also provides a way to manage all security devices from one location, which is a significant benefit for banks with multiple branches, sites, and kiosks. For more information, call (210) 545-1770 or fill out our contact form.