By Morphean CEO, Rodrigue Zbinden, looks at how the digital transformation of physical security which has been boosted by the pandemic holds benefits for the financial services sector.
Cloud technology has been proven to help businesses remain operational during the pandemic and has helped facilitate a digital transformation process that was already underway in many sectors, including financial services. Now, as a third lockdown nears its end, retail and investment banks will be looking to help large numbers of employees back to work to resume full service, requiring great consideration to be given to health and safety alongside the expected high levels of security.
While mask wearing and social distancing measures are likely to remain in force for some time, even as vaccine programmes continue to be rolled out across the country, it is the need to ensure compliance with protocols and procedures that is so important to ensure safe operation. It’s imperative that day-to-day business is not jeopardised by a spread of infection as a result of someone not adhering to the rules. This is where technology has an important role to play, with benefits that will transcend the pandemic, equipping banks and financial services for future challenges.
Benefits of hosted security solutions
Physical security too is transforming. In today’s modern world, dated standalone CCTV and manually operated access barriers, are increasingly being replaced with cloud-enabled network cameras and digital access control mechanisms. Such technologies provide multiple layers of protection, both at a building’s entrance and within the premises itself. The internet of things (IoT) brings seamless device connectivity and data sharing for a streamlined, efficient and intelligent security solution.
To better understand the capacity for cloud to help improve security and provide operational benefits during the pandemic and beyond, hosted security provider Morphean, commissioned a survey of 1000 senior decision makers across the UK, Germany and Sweden. Results revealed that 51% of respondents are currently using a cloud-based video surveillance (VSaaS) and/or a door entry/access control system (ACaaS), and that 95% of those surveyed agree that if an existing security system could deliver insights beyond security to assist decision making it would influence adoption.
Better management of premises and people
In such a high security environment, VSaaS and ACaaS can help managers to determine staff whereabouts and to know who is in the building at any one time. For example, an access control solution which is linked to an HR database can check the swipe of an access card against staff records. Surveillance cameras also provide secondary authentication through visual clarification of an individual’s identity. An employee who is flagged by the system as being on leave, absent or no longer employed will trigger an automated alert to relevant personnel, who can take swift action.
With concerns turning to the potential spread of COVID-19, frictionless access control mechanisms ensure a fast and hands-free method of admitting staff to the premises, using surveillance cameras, QR codes, or mobile phone identification to avoid the touching of shared surfaces, minimising cross infection risk. IP audio equipment that is connected to the surveillance system can be used to issue messages, either pre-recorded or in real-time, to remind staff of the importance of maintaining a safe distance from each other and configured to trigger an automated warning message while simultaneously making security personnel aware of any situation.
An intelligent system unlocking powerful insights
Ensuring that only staff who are necessary for day-to-day operations are on site is a sensible way to further minimise infection risk. Remote monitoring and operational insights can be employed to check premises via tablet or mobile, removing any need to enter a site unnecessarily. In fact, access from any location (32%), remote maintenance (31%), and the ability to monitor empty sites (29%) were all identified as key benefits of introducing VSaaS and ACaaS, alongside better security (40%) and better functionality (33%). VSaaS and ACaaS include regular software updates and firmware upgrades, resulting in a solution that is always online and always up to date.
A pay-per-use business model means that systems can be easily scaled up or down in accordance with customer requirements, while monthly recurring payments remove the need for large upfront capital expenditure. Partnering with a trusted physical security provider will ensure delivery of a future proof system that’s capable of high levels of security while unlocking powerful business intelligence. Managers will benefit from insight into staff movement around the premises and adherence to health and safety protocols for complete peace of mind.
As companies consider the evolving threat landscape and broad range of challenges that the future will bring, cloud-enabled physical security appears to sit firmly on the agenda. VSaaS and ACaaS provide a flexible security and business solution, enabling today’s banking industry to meet ever evolving demands and confidently face the future.