New and Emerging Technologies in Banking

With the recent influx of smash-and-grab ATM thefts snowballing throughout the U.S., it has become clear that companies must be prepared to combat both present and future security threats. We are still decades away from the in-person banking experience becoming obsolete, so companies need to have the proper technology in place now if they have any chance of keeping their assets safe and secure in the future. 

Regardless of the security threat at hand, proactive protection can be achieved through the integration of video analytics with existing video surveillance systems. 

Video analytics provide companies with real-time data, which leads to effective decision-making when it matters most. These varied solutions are cost-effective, improve customer satisfaction, and provide banks with the peace of mind that they are doing everything in their power to protect their key stakeholders.

1. License Plate Recognition

Image Courtesy of NVIDIA Developer.

Bank crime typically involves some type of vehicle, so it is crucial that banks are able to identify these cars. What is even more important is that banks possess a video system that will allow them to accurately capture a vehicle’s make, model, and license plate. 

License plate recognition provides the accuracy that a financial institution’s existing video surveillance system may be lacking. These systems hone in on a license plate’s characteristics and then compare these findings with an extensive database. LPR is capable of recording license plate information at all hours due to its infrared night vision technology. 

Companies are also highly encouraged to sync their surveillance systems so that law enforcement can be alerted when a suspect’s license plate is captured. A financial institution can opt-in to receive these updates as well.

2. Facial Recognition

Image Courtesy of WBUR.

Facial recognition records the layout of an individual’s face as they enter a given space. The technology is frequently used to manage access control in both a physical and digital environment. When a customer enters a bank, their face will be automatically recorded. A customer’s identity can also be verified when using online services, which can help prevent cybersecurity threats in digital banking. 

A branch can also choose to not allow an individual to enter a building unless their pre-saved image matches their current appearance. The technology will compare a consumer’s image to an existing database of faces, which can also be used to accelerate criminal investigations. Investigators are able to search for a particular face in minutes by scanning numerous cameras.

3. Aggression Detection

Image Courtesy of Louroe Electronics.

With 90% of physical aggression occurring in response to verbal aggression, bank employees need to be able to respond to potential threats before they spiral out of control. 

Aggression detection is capable of measuring particular sound patterns associated with emotions such as anger, fear, or coercion. The technology can also measure the rising levels of these emotions as a situation’s intensity increases. These reactions could be associated with potentially dangerous situations, so a display of any of these emotions will trigger an automatic alarm system. These early alerts allow for staff to respond before it is too late.

4. Loitering Detection 

Image Courtesy of Interactive Security.

We often forget that most criminals begin as suspects. Gang violence, armed robberies, and other malicious activities typically begin in the form of loitering. Detecting this behavior is simple as existing cameras can be equipped with video analytics which allow companies to spot this behavior in real-time. 

Companies can choose to set minimum parameters regarding the number of people that are considered a threat, how long someone can remain in an area before an alarm is triggered, and can also select which areas of a building to target specifically.

Overall, the incorporation of video analytics into existing surveillance systems allows financial institutions to ensure that their assets are being kept safe and secure before someone even enters their building. 

These technologies provide financial intermediaries with the ability to assess risks before they become unmanageable, costly, and even life-threatening.

3Sixty Integrated is here to aid financial institutions such as banks, credit unions, and other key centers develop viable security solutions that will allow key stakeholders to be protected 24/7. Our team can create customized security applications that will allow your organization to keep your assets safe and secure now and in the future. For more information, click here to schedule a short, 30-minute meeting or call us at (877) 374-9894.