“Smart video analytics is essential for banks” – Improving security and customer experience with surveillance technology

IFSEC interviews

IFSEC Global finds out why Abhijit Shanbhag, CEO of Graymatics, believes video-based AI solutions are critical assets for the banking industry, especially as institutions seek to move into a ‘post-COVID’ era.

Like many professionals, Abhijit Shanbhag, CEO of analytics company CCTV Graymatics, believes that artificial intelligence is changing the way every industry works, and intelligent video analytics will soon become a must-have asset for any organization. But Shanbhang believes this is especially the case with banks.

“We believe that a powerful AI platform backed by relatively weak investment dashboards is essential for banks,” Shanbhag says. “They now provide a variety of in-depth insights into customer experiences and can better improve business processes with real-time visual feeds converted into analytics. “

Some of the benefits of video AI solutions include identifying the density of people on premises, identifying compliance with social distancing, and tracking crowd movement patterns through already installed video surveillance systems. Meanwhile, the detection of suspicious or unattended weapons and objects or dangerous activities (e.g. involving fire and smoke) are also key concerns that modern surveillance technology can combat.

Customer experience is another part of the puzzle that can be analyzed. Shanbhag adds, “Powerful and versatile video AI solutions can also obtain various analyzes of customer activity, such as a detailed map of the customer journey in the bank. This means that measures such as the time a customer has waited in a queue for service, the time spent waiting to withdraw money from an ATM, or during which parts of the trip the customer has. had positive emotions, can all be tracked. “

“If the bank has different promotional activities, such as service automation, these video solutions will help banks understand how customers interact with them. If a visitor to the bank commits acts of vandalism in an ATM, these can also be detected and violence can be avoided. “

In the ‘post-Covid’ era, a reliance on video analytics may become even more pronounced, with many businesses, including banks, seeking to ‘reduce human dependency’ and establish unstaffed branches.

“Video analytics can play a vital role in ensuring security compliance as the world gradually opens up,” Shanbhag says. “State-of-the-art video analytics solutions can give users the ability to detect when the crowd is not meeting social distancing standards and send automatic alerts. It can also allow bank management to monitor whether staff and customers are interacting safely by detecting masks. This data can be leveraged to alert bank security personnel and can also be presented as dashboards for assessments and decision making.

Video AI “essential for unmanned banking establishments”

Unstaffed branches are, of course, something that might be desired in response to the COVID-19 pandemic, but there is evidence to suggest that they were already increasing in numbers before.

“For such branch offices, video AI solutions are essential to ensure that certain levels of customer experience and that security thresholds or KPIs are met. Journey maps are particularly important in understanding how customers interact with self-service kiosks or branch automation.

Despite the understaffing, customers may find that some aspect of their banking experience is sped up much faster.

“Facial recognition for authentication can be used in ATM lobbies when the customer has forgotten to bring their ATM card but wants to validate their bank account information,” Shanbhag explains. “This facial recognition technology can authenticate or validate their bank account information if the customer faces the Video AI compatible camera. “

“It can also be used to understand queue delays outside of ATMs and bank branches and to better understand steps that can be taken to improve the customer experience.”

Graymatics video AI-based solution is called G-Safe. It is designed to unlock video feeds from multiple CCTVs deployed on a bank’s premises to “monitor and improve the customer experience, streamline business processes and improve safety and security,” according to the vendor.

“G-Safe follows the customer journey inside the bank, which is then used to optimize various components of service to banks: customer traffic, use of branch space (by preparing heat maps) and allocation of services and staff, ”adds Shanbhag. “G-safe also saves customer waiting time to service time and thus helps improve the placement and availability of staff. “

G-Safe also offers services such as loitering and idling recognition, unattended object detection, intrusion detection and social distancing.

Shanbhag believes that video surveillance in bank branches is currently used in a very passive way. “With video / AI analytics technology, banks will be able to effectively transform video surveillance streams into solutions that can be leveraged as part of their customer experience decision-making and operations monitoring process. When accompanied by powerful dashboard features, it can be a strong differentiator on how a bank translates this valuable source of Big Data into customer experience policies, operational workflows, and on-site security protocols. measured.

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