When Continuity Counts

Video systems are one way the financial market can leverage technology


 

Addressing Robberies, Fraud, Compliance

The financial industry combines elements of high-end commercial services with a front-line retailing component. A single large financial institution might have thousands of locations, even more automated teller machine (ATM) locations, and each facility can present a variety of unique security needs. Navigant Credit Union’s branch operations are similar to many credit union branches. Security systems protect against robbery and fraud, and ensure employee and customer safety. High-quality images are required to provide crisp detail.

At the corporate level, banks and financial institutions often use video cameras operating in conjunction with security manpower to protect and control access to the premises. Video systems are called on to interface with access control, intrusion alarm and environmental systems. Monitoring centers must be able to easily manage video displayed on multiple monitors and draw immediate attention to events that need action or investigation.

Of course, video coverage is critical when a theft occurs, and Navigant experienced this when its Central Falls branch was robbed earlier this year. Navigant’s surveillance system makes it easy to export video to a USB drive inserted into the front of the DVR unit. The time saved versus needing to “burn” a DVD can be critical in the hurried aftermath of a robbery. Video is then authenticated, and Verint Vid-Center Video Viewing Software reconfirms date and time information once a day on each DVR and resets it as necessary.

In addition to security and safety, Navigant uses video for fraud and compliance investigations. For instance, related to fraud, an investigator can retrieve data about the time a transaction happened on a certain account and which teller performed the transaction. Then fraud investigators can cross-reference the time with video archives to retrieve an image of who made the transaction. They can then refer to the account information to determine if the person is authorized on the account, if he or she is a family member of the account holder, or if an unauthorized transaction occurred.

Related to compliance, federal law requires reporting any cash deposits of more than $10,000 (a regulation aimed at preventing tax evasion and money laundering). However, to skirt the regulation some people might resort to “structuring,” which means making multiple smaller deposits at various branches. If there are excessive deposits to a single account, Navigant’s compliance personnel can get involved to track down who is making the deposits, and video surveillance again becomes a valuable tool.

The video system also helps manage liability issues. If a credit union member slips and falls, the system can provide video of the incident to insurance investigators.

Drake says Verint’s ATM data-capture interface is easy to configure and manage. The interface masks data captured from an ATM transaction appropriately and then attaches the data to related video of the transaction captured from the camera.

During a power outage, uninterruptible power supplies (UPS) units protect network servers at each Navigant Credit Union branch and the DVRs. For a longer, sustained power outage, generators at the credit union’s corporate center and at a separate disaster recovery site (required by the federal government) continue to perform data, security and life-safety functions, even if camera feeds are lost at individual branches.

 

Valuable for Business Operations

For intuitive business operations, newer video systems with embedded analytics analyze customer activity with accurate people-counting, track customer behavior such as dwell and wait times, and monitor branch activity. Navigant’s retail administration can also use the video system to view activity in lobbies of various branches as a tool to ensure better customer service. For instance, tellers can be swapped as needed to provide coverage if one branch experiences an especially heavy volume of business.