Modernizing physical security: What are the must-haves for banks and financial institutions?

Community banks play a personal role in the neighborhoods they serve. Customers know the people behind the counter, and that trust extends to keeping information, staff, and branches safe. But safety has become much more complicated. A cyberattack can disrupt banking systems, and a break-in can put employees at risk. .To meet the changing threat landscape, retail banks and financial institutions need to modernize their approach to physical security and collaborate with local authorities. The result is stronger neighborhoods and more peace of mind for the people who rely on their local bank every day. Security system top priorities Retail banks manage physical security across branch locations that can range from two sites in a small town to thousands nationwide. Their security goal is to keep employees and bank assets safe while ensuring a smooth and convenient customer experience.Each site might have multiple forms of technology deployed from different providers. These various systems can make it difficult for security teams to see what’s happening across all locations, effectively respond to threats, and maintain systems. Mergers and acquisitions compound the problem. Without having a way to centrally manage and control these systems, siloes and gaps in security can grow.As financial institutions digitize operations, they need physical security technology that will keep up. Here are some of the most important must-haves for banks to consider during physical security upgrades. Flexibility: Choose open architecture solutions over proprietary hardware and software. A flexible system provides the freedom to scale operations, add new technologies, and implement cloud-based systems as needs arise.Unification: Bring your video, access control, intrusion, and other systems together within a single unified security platform. Connect all sites to a security operations center and leverage mobile capabilities and cloud-based systems for remote monitoring and response. Cybersecurity and privacy measures: Leverage built-in cyber defenses and privacy features to mitigate potential risks and tap into cloud and hybrid deployments to streamline updates and cybersecurity best practices. Automation capabilities: Advanced tools can digitize processes, cut costs, and empower your operators to improve their efficiency day-to-day and investigative work. Data optimization: Invest in a platform with built-in capabilities that help optimize data. Unlock valuable insights to improve the customer experience, track facility compliance, and enhance automation initiatives. Investigation tools: If a crime occurs, every minute counts. Teams need to quickly identify suspects, compile evidence, and coordinate response with internal stakeholders and law enforcement. AI-powered investigation tools within video management systems (VMS) enable faster and easier identification of suspects, vehicles involved, and other relevant evidence. Through natural language search features, bank security teams can quickly pull footage using prompts such as “woman with a black hat” or “a green sedan.” They can then track that evidence across multiple cameras and locations.Collaborate with law enforcementMany banks are also now forming closer partnerships with local police. Through community programs, businesses are connecting cameras with law enforcement, enabling direct sharing of live video during an incident. Officers can preview the situation before arriving, so they respond more quickly and effectively. Once teams identify evidence, they can securely share the data with local law enforcement through a cloud-based digital evidence management system (DEMS). A DEMS encrypts video and controls access to the files, so bank security teams can easily and securely collaborate with police or prosecutors. Sharing video evidence with police helps them connect the dots and build a case if the same person has struck multiple banks or ATMs.Stay competitive and resilientTo stay competitive and resilient, retail banks and financial institutions need to modernize their approach to physical security. With the systems and data in one place, security teams are better equipped to make informed decisions that lead to faster intervention and resolution. By collaborating with other local businesses and law enforcement, banks can work to improve their security posture. Modern security measures can help deter crime and cyberattacks. Banks can focus on what’s most important to them — welcoming their customers and maintaining their trust.Scott Thomas is the national director for signature brands in the United States. Scott and his team are responsible for sales to the retail, financial, hospitality, gaming, and cannabis vertical markets via the company’s network of system integration partners. Scott joined Genetec in 2007 as a director of business development. Scott started in the physical security industry in 1991 with Checkpoint Systems where he held various sales and management roles during his 16-year tenure.