by Daniel Fukson, Head of Business Development, BS/2
From the point of view of business optimization, it is very achievable to protect up to several thousand ATMs within the same network with the help of modern software. In recent years, software applications for ATM security have been developing particularly actively.
At the same time, deployers have recognized that basic functionality in self-service devices does not satisfy all the needs of banks and their customers indefinitely. Financial institutions worked to provide customers with additional services: the ability to pay for various services and utilities and exchange currencies, to name but two.
Additionally, increasing numbers of FIs are adding functionality that allows them to target the ATM user with personalized marketing messages as they transact at the ATM.
So, what does this all have to do with video monitoring?
Quite a bit, actually. The video monitoring system needs to be fully compatible with the latest version of the software applications for a self-service device. And it must be able to help protect the equipment and personal data of the bank’s customers across a wide variety of ATM makes and models.
The business model of interaction with the software provider also plays a big role. The distribution of software licenses for self-service devices directly from the server provides partner banks with a tool for easy license management and makes the relationship between the software provider and the FI more transparent.
In addition, this functionality allows you to manage the delivered software more effectively and reduce the cost of using the solution — which is always a consideration.
It might look like a lot of effort, but software developers have actually made integration of video monitoring much easier in recent years. And the payoff from implementation of a monitoring system can be impressive. Here are a few of the particularly acute problems that can — and should — be addressed through ATM video monitoring:
1. Settlement of disputes, when the customer claims the ATM did not dispense the requested cash. This could be a fraud on the client part: He took some of the money, left the rest as if he had “not had enough time to pick it up” before the money was retracted. Or it could be that, in fact, the total amount for some reason was not issued. In this case, the installed camera will help the deployer figure out what went wrong.
2. Data comparison. CCTV systems using digital technology can provide photo and video recordings of events occurring during any operation or transaction. Snapshots overlaid with timestamps and evidence can be very useful in the search for video materials concerning specific banking transactions and images of individuals.
3. More effective response. Thanks to modern technology, ATM security cameras and alarm systems can be integrated into a single network. The software provides several scenarios for responding to various criminal actions, such as the use of a counterfeit card or the obscuring of a camera; an attempt to install a skimming device or to damage or steal the ATM. Whatever the circumstance, an alert is sent to the monitoring center.
4. Information about criminals. A properly set up video surveillance system can help a financial institution prevent illegal actions or, if they have already occurred, provide photo or video images to security services and law enforcement agencies.
5. Centralized system of video surveillance. Modern video surveillance systems allow the transfer of information from many data sources to the monitoring center, thereby facilitating the work of customer service centers, security services, system administrators and service providers.
6. Recognition and use of images. CCTV systems with advanced video analytics, combined with biometric data collection can be used to identify black-listed individuals or criminals.
7. Prevention of threats. AI software can identify facial, movement and behavioral characteristics of an individual at the ATM. Integrated with video surveillance, it can be used to detect suspicious or abnormal activity, thus helping to protect bank assets and accountholder data.
8. Increased customer loyalty. The safer the bank, the more confident its customers. An effective video surveillance system can play an important role in increasing the accountholder’s feelings of security and, by extension, loyalty. A Diebold Nixdorf study conducted in 2017 found that 40 percent of customers who experience a card compromise or account hacking do not use their reissued bankcard, and the bank thus loses the customer. Video monitoring systems cannot physically prevent intrusion into databases, but they can be highly effective at identifying criminals and their attempts to use stolen card data at ATMs.