Video verification improves security, saves money

Bank Customer Experience

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1M ago 19:47

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ATM crimes aren't slowing down in intensity. If anything, they are increasing, and banks need to be able to contact law enforcement quickly and have them arrive on the scene fast enough to stop the crime.

However, traditional security systems can cause big problems for ATM and branch security, especially due to false positives.

In some jurisdictions, police departments are requiring video verification to prevent false positives, such as a faulty sensor triggering, an animal or some other issue.

In this episode of the Bank Customer Experience Podcast, Joey Parrillo, director of security solutions at Cook Solutions Group, and Michael Strange, director of technology services at Cook Solutions Group, discuss key benefits of video verification.

Strange pointed out in the podcast, which was moderated by Bradley Cooper, that false positives don't just waste time, they can also waste money.

He said many police departments will hit banks with a $500 fine for the first false positive, with increasing fines for each subsequent infraction such as $750 to $1,000. In addition, these departments will be far less likely to respond to alarms at banks that regularly have false positives.

He also said that many times these false positives are simply caused by employees who unknowingly trip the system. In addition, for smaller community banks or credit unions, they may not have a dedicated team to handle security events, which can cause delayed reactions.

During the podcast, Strange and Parillo share several ways video verification can solve the problem including:

Having a dedicated team to analyze security footage 24/7.
Saving money by preventing false positives.
Using AI to identify common issues such as animals or faulty sensors.
How CSG's PikoVERIFY solution works.

You can listen to the podcast in its entirety above.

20 episodes

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