Branch innovation has been a trending topic within the financial institution industry. For security managers, it can be a time to leverage new technology to better enhance or improve business performance and to attract and measure overall customer experience.

Recently analytics have made an impact on the financial industry. Analytics can maximize spend and then build on the investments being made for the long-term as well as a quick ROI. 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. Convergint and Axis Communications can implement these solutions.

Below is a list of the video analytics financial expert Stephen Joseph from Axis Communications considers having the most potential benefit for a financial institution.

  • Cross Line Detection is a tripwire application that detects moving objects which cross a virtual boundary. A branch could use this technology for protecting high-security areas. The software could be programmed to send an alert to security that there’s an intruder on the premises.

  • Demographic Identifier 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 gender and age statistics across branch locations and times of the day. This helps financial institutions to target marketing efforts and tailor the customer experience.

  • Facial Capture will capture, index, and catalog the faces of people entering the branch or using the drive-through teller lanes. 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 is a camera-based analytic that provides the ability to detect specific sounds and send alerts. Sound detection could include aggression, car alarms, gunshots, and glass break. The ability to get accurate advanced alerts allows for proactive event analysis by security staff.

  • License Plate Recognition automatically captures the license plate in real time, compares, or adds it to a pre-defined list, and then takes the appropriate action such as generating an alert. Captured plate data can be used to identify motorists at drive-through teller lanes and ATMs, as well as for parking lot 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 precisely monitors the flow of customer traffic throughout the day. People counter automatically counts in real-time the number of people passing under a camera and in which direction they are moving. A branch can use the statistics to determine optimal open hours and staffing needs. Analyzing traffic trends can also help the branch evaluate the impact of advertising and special promotions to draw customers into the premises.

  • Queue Monitoring is an intelligent analytic that captures real-time statistics about how long customers are waiting in line for teller or management services, tracking the queue duration and queue fluctuations over the course of a day. By analyzing queue data, a financial institution can plan better and utilize more cost-effective staffing. Banks can also set the queue threshold to prompt the opening of a new teller line when the number of customers in line exceeds the limit. This decreases customer wait time and creates a more positive customer service experience.

  • Loitering or Vagrancy can be 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.

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Analytics can be very powerful tools to help financial institutions maximize value from their network video systems and gain deeper insight into their business.  Strategic use of video analytics will help not only leverage resource spending but will speed the process of making important business decisions.

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