Cashing in on Your VMS System

Cashing in on Your VMS System

In banking today, the FBI and Federal Deposit Insurance Corp. (FDIC), have mandated security standards that require a minimum number of cameras and camera resolution in each facility. Often viewed as a grudge expense, video surveillance has been low on the priority list for investment, as financial institutions have historically struggled to see a potential return on investment in an analog or standalone DVR-based surveillance systems. This can often lead banks to forgo updates to systems – which ultimately can lead to physical and cyber security concerns.

When approaching banking security, it is important to offer security decision-makers as much information as possible about the benefits to migrating from an analog system to a digital one. One of those benefits is the potential in leveraging a video management system (VMS). Here are a few ways banks can utilize their VMS for business operations and security:

Access Control in Financial Institutions
In most types of financial institutions, compliance with industry regulations and audit trails are everyday events. It is necessary to link a video system to the transactions of an access control system when validating if the person using a traditional key card is actually the cardholder when entering a secured area, such as one governed by PCI regulations for credit card payment processors.

Another option would be the use of facial recognition, iris scans or fingerprint credentials to control access. With many available integrations between video management systems and physical access control software, banks can easily use video to verify a cardholder’s identity in the event that a credential has been stolen or replicated.

It can also assist in deterring employee theft, as only managers might be allowed access to certain areas of a bank. A VMS can help by notifying proper personnel immediately of who is requesting access, allowing them to either confirm or deny in real-time.

Panic Button and ATM Integrations for Enhanced Security
The ATM is something we’re all pretty familiar with, and chances are you’ve used one for deposits and withdrawals from your local bank. Video monitoring systems can provide services beyond just basic monitoring by offering integrations from ATM video to provide a more complete picture of bank operations.

For example, if a bank customer were to use an ATM to withdraw $20, and then disputed the transaction, the bank would have to spend about $30 in labor just looking for the video verification. In most instances, they might just write it off, which would be more cost-effective. However, if the transaction number were tagged in the video system, it would take only a few seconds to locate the corresponding video and prove or disprove the customer claim.

Without an armed guard present, the only line of defense is often the holdup button. This button can have a non-emergency function, meaning if one side is pressed then it is a notification of suspicious activity is sent to the offsite monitoring center. If both sides of the button are pressed, it typically indicates a crime in process or an emergency. This button can be linked to the video management system, allowing live video to be transmitted offsite. This gives responding authorities real-time insight into the status of the potential theft, or crime in process and better situational awareness on a response.

Leveraging a VMS for Investigations and Remote Monitoring When it comes to monitoring and conducting investigations, out-of-date software is both a cybersecurity risk and a hassle. For example, if a system is not networked, anytime an investigation needs to take place the investigator will need to physically drive to the specific bank location to access video.

This poses a logistical challenge for financial institutions with multiple branches spread across a large geographic area. However, a bank with a networked VMS offers the opportunity to conduct an investigation remotely as well as share the video with multiple stakeholders for quicker, more thorough investigations. Some VMS systems offer unique bandwidth reduction technologies that can alleviate the IT burden commonly associated with video sharing.

Beyond Security in Financial Institutions
As technology advances security cameras have become more intelligent and offer a multitude of use cases beyond security. Count on better operational efficiency or opportunities for improved customer service. These includes occupancy management in a lobby waiting area, or people counting analytics to determine busy times when additional staff personnel might be required.

While financial institutions have begun to deploy more IP-based video management systems, one common barrier to the IP migration is the perceived cost of compatibility with analog cameras. Some VMS providers offer different hardware alternatives and licensing structures that can incorporate a bank’s legacy analog technology as well as new IP cameras that can run video analytics for people counting or other purposes – offering a seamless transition in a hybrid environment.

Today’s banks, whether large, multi-location financial institutions or small-town credit unions, are required to implement appropriate security procedures to discourage robberies, internal theft and to assist in the identification and prosecution of persons who commit such acts. By deploying a VMS and embracing new possibilities in video analytics, financial institutions will be able to conduct quicker investigations, streamline operations and finally see a real return on investment.

This article originally appeared in the November / December 2021 issue of Security Today.

Featured

  • Maximizing Your Security Budget This Year

    7 Ways You Can Secure a High-Traffic Commercial Security Gate  

    Your commercial security gate is one of your most powerful tools to keep thieves off your property. Without a security gate, your commercial perimeter security plan is all for nothing. Read Now

  • Busy South Africa Building Integrates Custom Access Control System

    Nicol Corner, based in Bedfordview, Johannesburg, South Africa, is home to a six-star fitness club, prime office space, and an award-winning rooftop restaurant. This is the first building in South Africa to have its glass façade fully incorporate fritted glazing, saving 35% on energy consumption. Nicol Corner (Pty) LTD has developed a landmark with sophisticated design and unique architecture by collaborating with industry-leading partners and specifying world-class equipment throughout the project. This includes installing a high-spec, bespoke security and access control system. Read Now

  • Only 13 Percent of Research Institutions Are Prepared for AI

    A new survey commissioned by SHI International and Dell Technologies underscores the transformative potential of artificial intelligence (AI) while exposing significant gaps in preparedness at many research institutions. Read Now

  • Survey: 70 Percent of Organizations Have Established Dedicated SaaS Security Teams

    Seventy percent of organizations have prioritized investment in SaaS security, establishing dedicated SaaS security teams, despite economic uncertainty and workforce reductions. This was a key finding in the fourth Annual SaaS Security Survey Report: 2025 CISO Plans and Priorities released today by the Cloud Security Alliance (CSA), the world’s leading organization dedicated to defining standards, certifications, and best practices to help ensure a secure cloud computing environment. Read Now

Featured Cybersecurity

Webinars

New Products

  • FEP GameChanger

    FEP GameChanger

    Paige Datacom Solutions Introduces Important and Innovative Cabling Products GameChanger Cable, a proven and patented solution that significantly exceeds the reach of traditional category cable will now have a FEP/FEP construction. 3

  • PE80 Series

    PE80 Series by SARGENT / ED4000/PED5000 Series by Corbin Russwin

    ASSA ABLOY, a global leader in access solutions, has announced the launch of two next generation exit devices from long-standing leaders in the premium exit device market: the PE80 Series by SARGENT and the PED4000/PED5000 Series by Corbin Russwin. These new exit devices boast industry-first features that are specifically designed to provide enhanced safety, security and convenience, setting new standards for exit solutions. The SARGENT PE80 and Corbin Russwin PED4000/PED5000 Series exit devices are engineered to meet the ever-evolving needs of modern buildings. Featuring the high strength, security and durability that ASSA ABLOY is known for, the new exit devices deliver several innovative, industry-first features in addition to elegant design finishes for every opening. 3

  • ResponderLink

    ResponderLink

    Shooter Detection Systems (SDS), an Alarm.com company and a global leader in gunshot detection solutions, has introduced ResponderLink, a groundbreaking new 911 notification service for gunshot events. ResponderLink completes the circle from detection to 911 notification to first responder awareness, giving law enforcement enhanced situational intelligence they urgently need to save lives. Integrating SDS’s proven gunshot detection system with Noonlight’s SendPolice platform, ResponderLink is the first solution to automatically deliver real-time gunshot detection data to 911 call centers and first responders. When shots are detected, the 911 dispatching center, also known as the Public Safety Answering Point or PSAP, is contacted based on the gunfire location, enabling faster initiation of life-saving emergency protocols. 3