In today’s changing environment, many financial institutions find themselves working very hard to stay relevant and cost-efficient. To support this wider goal, they are starting to evaluate the use of video analytics. The use of analytics helps to support decision making by providing relevant facts with real-time data.
Financial institutions are now looking to innovate in this area to improve the customer experience. Analytics can be added to existing surveillance platforms, allowing companies to build on their current infrastructure, as well as deliver a better ROI (Return on Investment). With the maturity of sophisticated video analytics, network cameras have stepped beyond the traditional sphere of security surveillance and loss prevention and into the realm of operational business intelligence.
Video Analytics Use Cases
Convergint, partnered with Axis Communications, can provide innovative solutions for video analytics in financial institutions. Some of the use cases include:
Cross Line Detection
An application where a tripwire is set to detect moving objects crossing a vital boundary line. A branch could use this technology for protecting high-security areas and customers’ interests.
Demographic Identifier
This generates demographic data about customers as they do their banking. It can determine a person’s gender and approximate age range by detecting and analyzing their face. The analytics provide the ability to compare statistics across branch locations and times of the day. This helps financial institutions to target marketing efforts and tailor the customer experience.
Facial Capture
As people enter the branch or use the drive-through teller lanes cameras accurately capture, index, and catalog customer’s faces. Powerful search algorithms enable financial institutions to quickly find the recorded video of individuals of interest to expedite investigations of fraud, robbery, or identity theft. With facial capture analytics, stronger cases can be built to submit to law enforcement, as well as provide better protection of assets by setting alerts for suspects using facial similarity searches.
Sound Detection
A camera-based analytic that provides the ability to detect specific sounds and send alerts. Sound detection could include aggression, car alarms, gunshots, and breaking glass. The ability to get accurate advanced alerts allows for proactive event analysis by security staff.
License Plate Recognition
Automatically capture the license plate in real time, compare, or add to a pre-defined list, that then takes the appropriate action such as generating an alert. Captured registration plate data can be used to identify motorists at drive-through teller lanes and ATMs, as well as for car parking security. The analytics can also capture additional forensic detail like the make, model, and color of the vehicle and, in some cases, an image of the driver.
People Counter
Automatically count in real-time the number of people passing under a camera, in which direction they are moving, and monitor the flow of traffic throughout the day. A branch can use the statistics to determine optimal opening hours and staffing needs.
Queue Monitoring
An intelligent analytic that captures real-time statistics about how long customers are waiting in line for teller or management services, tracking the duration and fluctuations over the course of a day. By analyzing queue data, a financial institution can plan better and utilize staff more cost-effectively. This decreases customer wait time and creates a more positive customer service experience.
Loitering
Used to detect people that enter a specific area and send an alert if they remain in that area for a predetermined amount of time. For ATM vestibules, this can help to prevent people from hanging out in these areas creating a potentially unsafe or undesirable environment for customers.
Analytics can be a powerful tool to help financial institutions optimize value from their network video systems and gain deeper insight into their business. Convergint and Axis Communications can implement these solutions to help improve customer experience. Strategic use of video analytics will help not only leverage resource spending but will also speed the process of making important business decisions.