Modernizing Security for the Banking Segment



The banking market is continuing to evolve with the growing use of mobile devices, and more branch operations are aiming to enhance service and convenience for the customer. With these advancements come greater potential for fraud and associated loss. Naturally, increasingly sophisticated fraud technology and techniques will require organizations to look at new approaches to prevent and detect these activities. Here we will take a look at how solutions such as Verint EdgeVR and Op-Center aim to protect this market segment in the near future.

Financial institutions face more day-to-day challenges than retail or other business environments as a general rule, due to the nature of the services they provide and how enticing they are to fraud. The industry has relied on advanced video surveillance solutions for many years already, but actively seeks to keep up with trends and the latest technologies available in order to minimize losses. Furthermore, previous solutions are less and less able to support requirements for video retention, and so catalyze this move forwards.

Solutions that hybridize a mix of both analog and digital video cameras through a secure platform to limit cybersecurity risks, enhance video capture through analytics, and simplify the process of ongoing maintenance are preferred here. One such solution is Verint’s EdgeVR and Op-Center. This platform manages video surveillance and data capture across multiple branches and is an enterprise-class, IP-based network video recording system. It is built for large scale operations distributed geographically and is fully capable of hybrid IP/analog, permitting migration to digital video to enhance long term value and reduce integration costs.

The system provides for high quality video, optimized bandwidth use, a secure, proprietary operating system and industry-leading interfaces which increases ROI.

This is paired with Verint’s Op-Center which allows the enterprise to monitor, manage and troubleshoot NVRs from a central location. Adding Op-Center reduces the cost of video system management and allows the user to configure NVRs, change device properties, set passwords, download firmware, create audit reports, and manage user rights remotely. Remote diagnostics allow rapid troubleshooting and threat identification for large NVR deployments. Using this platform, administrators can monitor an entire network of surveillance, prevent loss of video, and maximize up-time.

Video analytics are also a valuable addition for fraud mitigation. Banks can search through footage much more easily and intelligently to locate any persons of interest throughout various locations. Analytics allows operators to address red flags and suspicious events much more rapidly than in the past. The technology is useful in identifying “slip and fall” events and ensuring long term capture of relevant video for use in later investigations. One banking chain estimates that this solution from Verint has provided them an 85 percent time savings over manual methods.

Verint continues to create technologies that simplify, automate and modernize, while also allowing for migration of old video surveillance technologies. Their solutions can be a significant force multiplier to help secure a branch’s footprint, alleviate risk, improve investigations into fraud, and maintain operational compliance over many locations. Moving past the first quarter of 2019 we should expect to see more use of “Big Data” for video analytics sourced from distributed spans of IOT devices to allow the banking industry to investigate threats rapidly and produce intelligence that can be acted on.



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