Bank security with a smart access control system

Banks hold large sums of cash, gold, and other high-value assets, making them one of the most common targets for thieves and robbers. Despite having manual guards and a surveillance system to provide bank security, most banks fail to protect themselves from such threats. Why is that?

The reason behind this is fairly simple to explain. A traditional CCTV surveillance system is only valuable for recording and monitoring. Analog cameras cannot detect or identify suspicious activities. Previously, a camera installed on-site would be enough to deter any criminal activities but that isn’t true today. If your surveillance solution cannot detect the presence of foreign people & objects, spray paint over the lens or the fear of tampering, it won’t be an obstacle in the way of miscreants.

Throughout this blog, we will highlight the latest advancement in the tools for bank security and explain how they can help safeguard your facilities.

Common threats faced by a bank

Before learning how a smart access control system can help improve your bank security, we must see the common threats faced by banks in general that a bank needs to be protected against.

Some dangers are explained in brief below:

• Robberies

  A robbery is one of the most severe and dangerous threats a bank faces. Mostly taking place during working hours of the day, these events can put the lives of multiple people in danger. Protecting assets, employees & customers with an analog system or a bunch of security guards may not work. Smart video surveillance systems, equipped with panic buttons, two way audio and integrated dialer to notify local forces is an important addition to your security panel.

• Break-in/thefts

  Break-in and thefts often occur in the absence of staff and customers, targeting vaults and currency chests, mostly during the night. Recently, a group of men broke into a bank in Delhi and stole Rs 55 Lakh, only for the employees to find out the next day when they returned for their shift. Similar cases have been filed across the country, with multiple groups breaking into banks and ATM vaults and leaving with a huge sum.

  In this particular case, the CCTV camera and video recorder was switched off, with no intimation of either of those devices being messed with. What’s more surprising is that the thieves entered the bank by breaking through a wall and yet went unnoticed by the night guard.

• Vandalism

  Vandalism is quite common in our country, and it is usually banks and ATMs that have to suffer the wrath of an enraged public. These might not lead to losses as significant as the other threats. However, they drive up repair and service costs along with causing business interruptions.

Key Devices for a smart security solution

Here, we will try to list down and explain in detail all the smart devices which must be incorporated as part of your security solution to provide holistic security.

• Keyless locks

  Keyless locks are smart locks that use an OTP-based locking mechanism. These locks can wirelessly send a one-time password to an authorized mobile in order to unlock. This means that access to sensitive areas across facilities can be controlled from a common command center. These can also be assessed via bluetooth enabled mobile applications, as long as the person accessing the lock has an authorized profile. Depending on the kind of assets being stored, the locks can be integrated with the security system to send real-time snapshots or clips of the person until they leave the area. This is especially beneficial around vaults and server rooms where you wouldn’t want unauthorized personnel to enter.

• Access Control Systems

  Access controls can be used at each door within the bank to control access to sensitive areas based upon an employee’s authority and clearance level. Such a system can restrict or grant access simply based on biometrics or ID tags. Using this system makes sure that entry to and within the premises is secured.

• Smart sensors

  Various smart sensors like door sensors, glass break sensors, motion sensors, etc., can be added to a bank security system to provide more comprehensive and complete security. Motion sensors can be used to guard during nighttime and send alerts of any unwanted movement within the premises. The door sensors can be used at each door to warn of forced entry in case of a break-in. Glass break sensors and vibration sensors can be used to alert authorities of vandalism.

• IP Cameras

  IP cameras are one of the essential security devices in any security solution. These cameras are responsible for monitoring the entire premises and recording each and every activity happening throughout the day. With smart detection capabilities, these can detect the presence of people after hours, differentiate between employees and customers on the basis of uniforms. These can detect actions like raised hands & identify weapons inside the facility. The detection is then followed by alerts being sent to the command center, who can validate the event and take necessary steps.

Must-have features of an access control system

• Reliable 24*7 monitoring

  A bank’s security system, especially the access control system, needs to function day and night without any interruptions as a bank can face a threat at any point in time. A majority of break-ins & thefts take place during nighttime when the staff and security is minimal. Here, all the responsibility for safety falls on the smart security solution.

• Real-time notifications via SMS, email & mobile app

  It is critical that alerts are sent to responsible authorities in real-time in the face of an actual threat or hazard. The ticket escalation process should also be seamless to improve efficiency and response time for the action. For example, in case of a robbery the local police station must be contacted and in case of a fire hazard the fire and health services department must be contacted.

• Integrated bank video surveillance & access control

  The access control system should be fully integrated with the rest of the surveillance system. All devices should be integrated onto the same platform for better accessibility and also to validate threats. For example, it is easy to switch to a camera when a sensor goes off, to verify whether the threat is real or not.

• Smart vault security with OTP-based locks

  Banks have vault rooms along with currency chests holding large sums of money. The protection of these assets is crucial for a bank. An access control system can help fortify the security at such sites by securing points of entry and exit. For example, a branch manager can contact the command center to gain access to the bank vault. The command center can verify if the request is genuine using IP cameras and then share the OTP. They can continue monitoring the bank while the vault is open and can confirm once more when the lock is engaged.

Conclusion

Banks and financial institutes are one of the most vulnerable businesses and therefore must leverage the latest technologies available to protect themselves from all possible threats. IGZY, our IoT enabled end-to-end surveillance solution is carefully designed to suit all the safety and security needs for your bank.

To know more about IGZY, and learn how it can help protect your business, reach out to us now!