Video Surveillance has been adopted by almost all banks to ensure safety and security of branches & assets however the number of bank robberies and thefts in the country went up 65% during 2013-2018. Banks suffered a loss of more than 180 crores Rs between 2015-2018 due to robberies. RBI has continuously advised banks to strengthen their security features with central monitoring. Today, dealing with robbers is even harder since mandatory face-masks are good at hiding their identity whereas economic hardship is pushing many people to illegal ways of money-making and lack of team physical presence due to COVID issues.
The need for Central Monitoring System and How AI is useful?
RBI has issued a circular advising Banks to have Central Monitoring System, A CMS helps in remotely monitoring bank facilities 24x7x365 for detecting any eventuality such as fire, theft, intruder detection, unauthorized activity, and burglary. There are nearly 50,000 branches of Indian banks, but only a few thousand have implemented the e-surveillance system. Currently, most banks have outsourced these isolated silos of surveillance activities to different vendors for and that poses challenges such as
- Post Incident footage retrieval and analysis takes anywhere between 24 hours to 48 hours or even more after an Incident Occurrence.
- Bank personnel have no visual data analytics, insights, or real-time, pre-emptive notifications/ alerts from the video footage
- Manual human monitoring of videos leads to loss of critical gaps – as it is humanly impossible to be present in front of the screen all time.
- Inability to know in time, malfunctioning of camera or camera tampering leading to loss of information and missed areas of security monitoring.
Although there is some insecurity around electronic surveillance, a decentralized approach is hardly serving the growing needs of vigilance. Therefore, there is growing consensus among the banking industry to create a centralized, holistic ecosystem defining standard security (SoPs) for the banking sector.
AI based Analytics for Central Monitoring Systems will help banks leverage existing video surveillance feeds to automate monitoring all the activities and correlate the data across all clusters all the time. Banks can now automate inspection, real-time detection, and reporting, thereby never missing any issue or getting issues fixed as soon as they occur.
Another advantage is these AI BOTS leverages ML and deep learning models that continuously learn from the data it analyses, adapting to changing environments thus enabling greater accuracy than any other proprietary solution.
AIVID AI Inspection Automation Platform for banks
AIVID offers a simple No code UI, ready to deploy by selecting from predefined activities powered by AIVID AI BOT’s to automate visual inspections of Bank SOP’s at a click of a button across all locations without having to get into the complexities of the technology.
Different AI Bots can keep real-time monitoring of activities from the video feeds from live CCTV cameras. These AIVID bots shall be monitoring (24X7x365) for Trespass detection, Restricted area access violation, People time spend, ATM/ Camera tampering detection, People count detection. For more details on AIVID BOTS check our page here
With AIVID Operation Dashboard, a Head Office Branch can get collective insights for several Retail Branches, ATMs or Priority Branches within its cluster. Each branch (an AIVID node) may have these scheduled AI bots programmed with policies to monitor and send notifications or alerts to authorized users for a prompt response.
Based on user and role access, different branch nodes can be configured together or may collate their surveillance data, analytics, and insights across several clusters or Zones or Cities to be accessed all from a unified dashboard.
AIVID supports a distributed architecture that operates with local edge-based processing to reduce bandwidth consumption.
How AIVID helps Banks to strengthen physical security and surveillance?
 | Real-time Central Monitoring & Incident Detection Single integrated platform, with a distributed architecture for monitoring 100s of branches from a central location.24x7x365 AIVID Bots detect events in real-time at the second they occur |
| Pre-emptive Notifications/ SOS alerts Event-based alerts can be scheduled and be sent by the branch security system automatically by the system for appropriate resolution. |
| Edge-based processing, plug and play with existing systems The platform enables edge-based analytics which reduces latency and bandwidth requirement. It can easily plug & play with the existing IP Camera, NVR, VMS, CCC for real-time monitoring. |
| Scale to multiple locations with Uniform policy management A cluster may have 100s locations of branches/ATMs with standard operating rules. Once a policy is configured, can apply to multiple cameras across multi-clusters to maintain uniformity |
| Intrusion Patterns and Analytics Go beyond isolated monitoring, Get an integrated view of all activities, intrusion patterns, and insights across all branches |
| Secured, scalable storage and deployment options With in-house secured storage/VPN or flexible public cloud options |
| Health Monitoring of Connected Cameras – Alerts and notification with the connected camera is disconnected |
Conclusion
As banks all over the country are rolling out Central Monitoring it is crucial for banks to adopt AI-based Automated Inspection and insights banks can reduce false alarms and increase information flow that enables better decision making.
Security teams can use timely notifications to quickly detect what type of situation is unfolding, ensuring that emergency situations are flagged as such and appropriate response is carried out.
To know more write to us at info@aividtechvision.com