Download PDF version Contact company
 Globalisation and easy access to new technologies have led to increased threats to financial organisations
Globalisation and new technologies have led to increased threats for financial organisations

The banking and financial sector needs to be constantly prepared to manage an increasing range of security risks, from fraud and anti-social behaviour to data mismanagement.

Organisations must anticipate such potential risks and have well-established plans in place to address them.  Honeywell, with more than 50 years of experience in the security industry, is helping to secure some of the world's largest financial organisations by providing solutions that protect employees, customers, financial data, operations and assets.

Globalisation, increasingly sophisticated criminals and easy access to new technologies have led to a major increase in the number of threats to banks and financial organisations. As a result, security has become far more than just protection against physical theft and anti-social behaviour. It is now a fundamental requirement of the business. Financial organisations need to have strict control over who has access to data, and be able to account for every transaction, while protecting their staff and customers.

Integration of security solutions: saving time and money

The general nature of large enterprise structures makes it difficult to integrate disparate security solutions into one central system. Today's financial organisations require the latest innovative technology and integrated security solutions, combining access control with CCTV and intruder detection for both corporate headquarters and the branch offices provides major technical and business benefits. Some of the latest intelligent video analytics solutions help to protect perimeters and prevent intrusion as well as providing behaviour analysis capabilities in order to predict and prevent criminal activity.

Intelligent video analytics solutions provide behaviour analysis capabilities in order to predict and prevent criminal activity

A system with an intruder alarm combined with advanced access control and audio verification is ideal for financial organisations. An audio verification facility enables quick analysis of an alarm source and cause, reducing false alarms and boosting reliability. Some systems can also use communication paths such as PSTN, ISDN or Ethernet to perform dual alarm signalling functions. 

An access control solution, which particularly benefits financial organisations with a global footprint, is the "one card" solution.  By incorporating multiple functions such as building entry and electronic purse access onto a single card, this technology reduces the need to carry several different cards or ID badges.

Whether engaging in threat/risk assessment, analysing behaviour patterns, or simply completing background checks on employees,  with such integrated security technology gives financial organisations maximum control over users, ensuring that their people, assets and facilities operate successfully. 

Solutions for easier and more affordable migration to fully integrated systems

While the trend towards integration continues, feedback from the market has also shown the continued emphasis on return on investment and value for money, particularly in the current economic climate. Full integration is often the goal of customers, but many cannot afford to buy complete new security systems all together, instead preferring to slowly migrate over time as and when funding becomes available.

Incorporating multiple functions into one card is an ideal access control solution for financial organisations

This gives customers the maximum possible choice when purchasing new systems and ensures that the migration to a new integrated security solution is as smooth and trouble free as possible. Migration to IP based security systems is an increasing requirement. For example hybrid digital video recorders (DVRs) enable new IP cameras to work seamlessly alongside legacy analogue cameras.

Fulfilling information security and other compliance requirements

Financial organisations face ever-increasing regulation, with their entire existence reliant on compliance with Sarbanes-Oxley, the Financial Services Act and a variety of other national financial regulations. There are solutions available for this too, such as an identity management system that manages and authenticates user credentials. This allows organisations to integrate physical and logical access so that, for example, users can only access sensitive IT systems once they have badged into a secure area, and it also supports the rigorous implementation of corporate password security policies via single sign-on solutions. This not only helps prevent external and internal threats, but also provides the full audit capability necessary to meet compliance requirements.  

Delivering a complete security system that easily migrates and integrates disparate systems whether access control, video surveillance, intrusion, logical access or intelligent video analytics can give a competitive advantage to financial organisations in today's economic climate. By integrating security systems throughout their network, organisations can attain the highest levels of protection for their customers and employees, creating a safe and secure environment in which to work and invest.

 Honeywell integrated security solutions ideal for financial sector:

Honeywell's Jeremy Kimber Jeremy Kimber
EMEA Marketing Leader
Video and access products

Honeywell Security Group

 Honeywell Noelia Castillon
EMEA Marketing Manager
Intrusion products
Honeywell Security Group
Share with LinkedIn Share with Twitter Share with Facebook Share with Facebook
Download PDF version Download PDF version

In case you missed it

Panasonic AI-driven cameras empower an expanding vision of new uses
Panasonic AI-driven cameras empower an expanding vision of new uses

Imagine a world where video cameras are not just watching and reporting for security, but have an even wider positive impact on our lives. Imagine that cameras control street and building lights, as people come and go, that traffic jams are predicted and vehicles are automatically rerouted, and more tills are opened, just before a queue starts to form. Cameras with AI capabilities Cameras in stores can show us how we might look in the latest outfit as we browse. That’s the vision from Panasonic about current and future uses for their cameras that provide artificial intelligence (AI) capabilities at the edge. Panasonic feels that these types of intelligent camera applications are also the basis for automation and introduction of Industry 4.0, in which processes are automated, monitored and controlled by AI-driven systems. 4K network security cameras The company’s i-PRO AI-capable camera line can install and run up to three AI-driven video analytic applications Panasonic’s 4K network security cameras have built-in AI capabilities suitable for this next generation of intelligent applications in business and society. The company’s i-PRO AI-capable camera line can install and run up to three AI-driven video analytic applications. The AI engine is directly embedded into the camera, thus reducing costs and Panasonic’s image quality ensures the accuracy of the analytics outcome. FacePRO facial recognition technology Panasonic began advancing AI technology on the server side with FacePRO, the in-house facial recognition application, which uses AI deep learning capabilities. Moving ahead, they transitioned their knowledge of AI from the server side to the edge, introducing i-PRO security cameras with built-in AI capabilities last summer, alongside their own in-house analytics. Moreover, in line with the Panasonic approach to focus more on collaboration with specialist AI software developers, a partnership with Italian software company, A.I. Tech followed in September, with a range of intelligent applications, partially based on deep learning. Additional collaborations are already in place with more than 10 other developers, across the European Union, working on more future applications. i-PRO AI-capable security cameras Open systems are an important part of Panasonic’s current approach. The company’s i-PRO AI-capable cameras are an open platform and designed for third-party application development, therefore, applications can be built or tailored to the needs of an individual customer. Panasonic use to be a company that developed everything in-house, including all the analytics and applications. “However, now we have turned around our strategy by making our i-PRO security cameras open to integrate applications and analytics from third-party companies,” says Gerard Figols, Head of Security Solutions at Panasonic Business Europe. Flexible and adapting to specific customer needs This new approach allows the company to be more flexible and adaptable to customers’ needs. “At the same time, we can be quicker and much more tailored to the market trend,” said Gerard Figols. He adds, “For example, in the retail space, enabling retailers to enhance the customer experience, in smart cities for traffic monitoring and smart parking, and by event organisers and transport hubs to monitor and ensure safety.” Edge-based analytics offer multiple benefits over server-based systems Edge-based analytics Edge-based analytics offer multiple benefits over server-based systems. On one hand, there are monetary benefits - a cost reduction results from the decreased amount of more powerful hardware required on the server side to process the data, on top of reduction in the infrastructure costs, as not all the full video stream needs to be sent for analysis, we can work solely with the metadata. On the other hand, there are also advantages of flexibility, as well as reliability. Each camera can have its own individual analytic setup and in case of any issue on the communication or server side, the camera can keep running the analysis at the edge, thereby making sure the CCTV system is still fully operational. Most importantly, systems can keep the same high level of accuracy. Explosion of AI camera applications We can compare the explosion of AI camera applications to the way we experienced it for smartphone applications" “We can compare the explosion of AI camera applications to the way we experienced it for smartphone applications,” said Gerard Figols, adding “However, it doesn’t mean the hardware is not important anymore, as I believe it’s more important than ever. Working with poor picture quality or if the hardware is not reliable, and works 24/7, software cannot run or deliver the outcome it has been designed for.” As hardware specialists, Figols believes that Panasonic seeks to focus on what they do best - Building long-lasting, open network cameras, which are capable of capturing the highest quality images that are required for the latest AI applications, while software developers can concentrate on bringing specialist applications to the market. Same as for smartphones, AI applications will proliferate based on market demand and succeed or fail, based on the value that they deliver. Facial recognition, privacy protection and cross line technologies Panasonic has been in the forefront in developing essential AI applications for CCTV, such as facial recognition, privacy protection and cross line. However, with the market developing so rapidly and the potential applications of AI-driven camera systems being so varied and widespread, Panasonic quickly realised that the future of their network cameras was going to be in open systems, which allow specialist developers and their customers to use their sector expertise to develop their own applications for specific vertical market applications, while using i-PRO hardware. Metadata for detection and recognition Regarding privacy, consider that the use of AI in cameras is about generating metadata for the detection and recognition of patterns, rather than identifying individual identities. “However, there are legitimate privacy concerns, but I firmly believe that attitudes will change quickly when people see the incredible benefits that this technology can deliver,” said Gerard Figols, adding “I hope that we will be able to redefine our view of cameras and AI, not just as insurance, but as life advancing and enhancing.” i-PRO AI Privacy Guard One of the AI applications that Panasonic developed was i-PRO AI Privacy Guard Seeking to understand and appreciate privacy concerns, one of the AI applications that Panasonic developed was i-PRO AI Privacy Guard that generates data without capturing individual identities, following European privacy regulations that are among the strictest in the world. Gerard Fogils said, “The combination of artificial intelligence and the latest generation open camera technology will change the world’s perceptions from Big Brother to Big Benefits. New applications will emerge as the existing generation of cameras is updated to the new open and intelligent next generation devices, and the existing role of the security camera will also continue.” Future scope of AI and cameras He adds, “Not just relying on the security cameras for evidence when things have gone wrong, end users will increasingly be able to use AI and the cameras with much higher accuracy to prevent false alarms and in a proactive way to prevent incidents." Gerard Fogils concludes, “That could be monitoring and alerting when health and safety guidelines are being breached or spotting and flagging patterns of suspicious behaviour before incidents occur.”

What is the best lesson you ever learned from an end user?
What is the best lesson you ever learned from an end user?

Serving customer needs is the goal of most commerce in the physical security market. Understanding those needs requires communication and nuance, and there are sometimes surprises along the way. But in every surprising revelation – and in every customer interaction – there is opportunity to learn something valuable that can help to serve the next customer’s needs more effectively. We asked this week’s Expert Panel Roundtable: what was the best lesson you ever learned from a security end user customer?

What is the impact of remote working on security?
What is the impact of remote working on security?

During the coronavirus lockdown, employees worked from home in record numbers. But the growing trend came with a new set of security challenges. We asked this week’s Expert Panel Roundtable: What is the impact of the transition to remote working/home offices on the security market?