Why Banks need AI-Driven SOP Monitoring for Security & Operations?
Data has become central to banks, unlocking new avenues for efficiencies for Banks. A highly regulated sector with strict norms from RBI for SOP compliances. Banks have come a long way in providing digital transaction experiences across the board and adoption of new technologies thereby enabling a better customer experience. Unfortunately, when it comes to security and protocols, banks have adopted video surveillance across branches and ATMs with a manual, checklist-driven approach. In a recent event at Delhi, two agents entrusted to refill the ATMs were caught, after months of refilling the ATMs to half and fabricating the reports provided to bank authorities. This fraud was possible because of the manual approach and complete lack of visibility at the Branch and Central level.
Transitioning to a More Operationally Efficient Digital Monitoring
Manually monitoring the checklists is good enough for the first step of measuring compliance with the SOPs, however, it provides suboptimal output. In the current set-up, while all the data is aggregated round the clock through video surveillance, the compliance measurement, and reporting are manually executed. This can leave human fallacies such as erroneous judgment, biased decision-making, or even fraud as we saw in the above instance, leaving a lot of room for operational automation and intelligence. Banks can leverage their current CCTV infrastructure to automate inspection 24/7 with central monitoring for the below-given checklists while also receive scheduled reports with video proofs, alerts, and insights from across all locations.
Scope of Automation in Physical inspection SOPs at Banks
1. Event-based monitoring
Detection of intrusion in the ATM premises or manhandling of the Bank’s installed equipment such as ATMs and more
- Security of restricted areas
- Shutter opening/closing compliance
- Loitering near the ATM, Vault opening/closing with dual custody
- Missing object detection
- Monitoring of opening and closing of Chest Door
- Crowd detection in ATMs beyond allowed no. of person
- Person entering with masked face or helmet
2. Workplace monitoring:
Activities that are focused on
- Availability of staff at desk
- Queue management
- Customer handling standards
- Illumination monitoring in designated areas
- People count, Door opening by a security guard
3. Cleanliness Monitoring:
- Verify Floor Cleaning Schedule & Frequency of cleaning compliance across branches and ATMs.
Harness the Power of AI and Computer vision
AI-based platform digitally analyses video footage from current CCTV footage in real-time to identify key events, objects, and activities at the exact time (down to the millisecond) they occur. All activities mentioned above can be automatically inspected and reported, saving on cost & time and above all, make the possibilities of fraud/misconduct, negligible. The solution enables an efficient, effective, and intelligent way to comply with the SOPs across locations. All the data aggregation, processing, and analytics get shifted from 'when the back-office team has the resources to analyze it to a real-time basis’. Thus, the security team can focus on post-event analysis to prevention. The Branch Managers, Security Heads, and Central Teams can benefit hugely from a dashboard view that provides easy accessible intelligence of multiple locations from installed video surveillance.
A new paradigm in inspection for Banks & NBFCs
AIVID Platform leverages AI and Deep Learning to automate mundane, repetitive, and manual process inspections. The platform is cloud-based adaptive to the bank's workflow for SOP inspection automation, using feeds from IP cameras and sensors across multiple locations with central control.
Predefined Activity Checklist - Select from predefined activity, define rules, alerts, and notifications for 100s of locations or a particular branch from a central UI. Automated Monitoring with AIVID Bots -The process inspection is then shifted to AIVID Bots for consistent, uninterrupted 24/ 7 monitoring, alerting, and insights generated from across locations.
- Get Real-time alerts & SOS Notifications for proactive action by security staff and prevent losses.
- Scheduled automated inspection reports with video proof sent to authorities daily, weekly, monthly.
- Actionable insights and intelligence with trends from across all locations to identify areas of improvement.
Drive continuous improvement –AIVID Bot Deep Learning algorithm self-learn and continuously improve itself, as more and more data is analyzed, by identifying patterns, thus decreasing false alarms. With AIVID, AI-based inspection automation and analytics banks can now take proactive actions by flagging SOP compliance gaps and have visibility in real-time across all locations. The solution helps the bank recoup every penny invested in the video surveillance security systems. Unlike traditional video analytics platforms, the AIVID platform enables integrated insights, easily scales to multiple locations & enables reduced bandwidth consumption due to distributed edge-based processing. To know more download the brochure or write to us firstname.lastname@example.org