How banks can rely on security solution providers in the current era through CMS

In our society, banks are symbolic to top brass, in terms of security. Their image of infallibility in safety, instils faith in people to deposit their valuables and hard earned savings. Especially for a developing nation such as India, where people from various economic strata, come together to entrust their financial bequest on these institutions, banks are often seen as the unshaken signifier of prosperity.

Unfortunately, surveillance in Indian banks were limited to solely past, which lead to robberies and discrepancies, often plaguing the financial ecosystem. These, in turn, shook the faith of common people on the banking industry, resulting to an influx of unaccounted money hoarding at homes. The rise of urbanization and rapid expansion of branches in Tier i and ii cities have increased the criminal occurrences in banks, due to the inability to provide strong security solutions to such small cities and villages.

Terrorism and other law and order related issues, has made it difficult for the police to dedicate more attention to the security of banks, with just a set of guards allotted to the banks and ATMs. There is a huge gap in terms of sophisticated security equipment, hosted in a bank, with most of the banks resorting to cheap and outdated systems to save expenditure on security. Plus, more emphasis is given to make banking comprehensive to customer, overshadowing the need to progress in terms of security. For these factors, hundreds of earnings are lost every year in bank frauds and robberies, some of them occurring on the directive of an insider’s knowledge.

CMS, in terms of security, refers to a secure location where alarm signals are monitored by live central station operators 24/7. The term can also be used in reference to services utilized to monitor burglar, fire and medical There is a dire need for automation in security to replace reactivity with proactivity.

The Indian Government’s move to include Central Monitoring System (CMS) in its functionary bodies, are turning out to be a beacon of hope for the flagging security system in banks alarm systems. In addition to this, central monitoring system provide watchmen and supervisory services as well as runner service for fire alarms.

Central monitoring systems enlists the use of special telephone lines, computers, receivers and trained staff to keep a track of their customer's security systems and act appropriately, alongside the authoritarian bodies, in case of criminal occurrences. CMS combines the positive pointers of a monitored system with wireless system, to provide comprehensive solution that caters to the requirements.

CMS, in tandem with optimized surveillance system, aids banks in the following ways-

Assured prevention of Robbery and Cheque Frauds- Banks are one of the core targets for criminals, owing to huge amount of currency amassed under its roof. A proper surveillance system, monitored centrally, will help record the day to day happenings in the bank. In case of a robbery, the necessary images on tapes help authorities in tracking down and prosecuting the criminal. Also, CMS is enabled with advanced video analytics such as facial recognition, which help detect the possibilities of a check fraud. By being able to record the transaction data and capture the images of potential offenders, CMS aids in identifying criminals and protect customer accounts.

Collating information from various branches- Owing to the centrally-operated, multi-faceted functionality of CMS, it allows footage from more than one branch to be sent to a central monitoring location. This allows multiple branches to be monitored simultaneously to ensure that the establishments are secure. Also, storage becomes more comprehensive, with the help of cloud storage, enlisted by CMS. Using these features, you will be able to pinpoint any specific activities and relay it immediately to the authorities, without much effort.

Optimal Functionality for banks-An intelligent security system, armed with CMS, has analytics such as motion detection and behaviour tracker which will keep a track of not only the customers but also the employees. Internal management becomes more cohesive, especially in these times, when the discrepancies are often organized, with the help of an insider. The act of being able to detect the presence of suspicious activity before it strikes, is imperative to control adverse situations. By centrally monitoring all the sensors and alarms, you will be able to control all security parameters under a convenient interface.

Enhanced Level of Customer Confidence- CMS ensures that your bank is safe and secure, hence instilling confidence in customers. Effective CMS surveillance in banks help increase prosperity in terms of business as well as security package. Security systems come with continual surveillance in banking and ATM facilities, providing you with protection far beyond that of the traditional systems.

Depending upon the requirements, one can customize the CMS surveillance, to optimize on its top-class solutions. With CMS, banking institutions can be assured that their security is in competent hands.

Authored By- Pulkit Punj

Director, AnG India Ltd.