In modern days, crime and fraud are the major challenges facing high profile financial institutions all over the world. Technology has greatly revolutionized the financial sector, but it has also provided an avenue for criminals to carry out their criminal activities.
Much effort and investments have been channeled towards developing security systems to curb cybercrime in financial institutions. This is because cybercrime still remains the biggest threat to the modern day financial sector since most banks and financial institutions are moving their business online. However, securing high profile financial institution premises is very important since it prevents physical attacks and helps in winning customers’ trust.
Several technologies have greatly impacted security in high profile financial institutions. Some of these security systems include, access control systems, digital IP-surveillance systems, and ATM anti-skimming systems.
Most financial institutions are adopting the above security systems to secure their businesses and reduce the cost of operating the institutions. The above technologies have different application and a combination of the three are essential security systems for financial institutions.
Access Control Systems
Proper management of visitors and personnel entry to financial institutions lays the best foundation of the security system against theft, property loss as well as increasing employees’ safety. Latest innovations in the field of computer and information technology have seen the introduction of sophisticated access control systems to replace traditional keyed solutions which had numerous bottlenecks. Modern day access control systems have an identity management module which helps to create an optimal security setup for high profile financial institutions.
Modern access control systems utilize state of the art communication system to transmit data effectively and in real-time. For proper identification, modern day access control systems have facial recognition capabilities as well as keypad activation units or biometrics.
Most access control security systems have a software system running in the backend and the software is responsible recording and analyzing data from various sensors contained in the system. Some access control systems can be monitored remotely via the internet. This enables the generation of customers’ reports, checking the system arming and disarming the system from a remote location among many others. However, for remotely controlled access control system, the internet connection must be quick and reliable for efficient operation.
Digital IP-Surveillance Systems
Most high profile financial institutions are switching from analog surveillance systems to digital IP-surveillance systems. In traditional analogue system, the cameras capture analogue videos and transfer them to the monitor using coaxial cables. However, in the Digital IP surveillance systems, the camera records analogue system, transform it to digital and then the digital video is broadcasted using the local area network (LAN).
As the world of computer networking continues to evolve, wireless security camera systems are becoming popular in high profile financial institutions since they are cost effective and cannot be deactivated easily by intruders.
ATM Anti-Skimming Systems
ATM anti-skimming systems are also becoming very popular in high profile financial institutions due to their ability to detect ATM fraud. The ATM skimming fraud involves the capture of ATM card magnetic stripe information and verify with the card pin number and other information.
The anti-skimming systems operate by altering the entrance of the card leader to prevent the attachment of the skimming devices. The technology also helps in detecting the presence or the jamming of the card reader. The above security systems improve security on the premises of high profile banking institutions.