Verint Network Video Recorders (NVR) / Network DVRs (7)
The Nextiva EdgeVR solution, which features scalable, enterprise-class video monitoring, recording and analytics capabilities is specifically designed for banks and financial institutions. The advanced network video recording platform helps enhance security and streamline investigations in a variety of financial and retail bank environments. The latest version of Nextiva EdgeVR, which is expected to be available this month, delivers all the benefits of an embedded NVR, including bandwidth optimization, remote access and robust surveillance analytics. Its video surveillance functionality can easily scale to support up to 64 IP and analog cameras. Consistent with the EdgeVR open platform design, the solution integrates with various edge devices and systems to deliver flexibility to customers in the financial market. Among the enhancements to the Nextiva EdgeVR platform are advanced investigation tools, such as face detection, license plate recognition and a variety of surveillance analytics. Specifically designed to enhance the efficiency and effectiveness of security operations in corporate command, control and communications environments, it offers video wall support and a mobile application to provide advanced video viewing that helps create new levels of situation awareness.Add to Compare
Verint EdgeVR-80-POE IP-based network video recorder delivers high-resolution images for both recording and live video viewing. Built with an innovative and powerful H.264 video compression engine, EdgeVR provides superior video quality at significantly lower bit rates, reducing storage and bandwidth requirements. Available with a hybrid analog/IP video option, this intelligent NVR can support up to 12 IP and analog video cameras.Add to Compare
Nextiva® EdgeVR™ is an enterprise-class, IP-based Network Video Recorder designed for large-scale, geographically distributed operations. Available with hybrid IP/analog capabilities, this true IP video solution more readily scales to IP video operations than analog-based, hybrid NVRs, for greater long-term value and lower migration costs.Add to Compare
Verint EdgeVR 50 IP-based network video recorder delivers high-resolution images for both recording and live video viewing. Built with an innovative and powerful H.264 video compression engine, EdgeVR provides superior video quality at significantly lower bit rates, reducing storage and bandwidth requirements. Available with a hybrid analog/IP video option, this intelligent NVR can support up to 4 IP and analog video cameras.Add to Compare
Nextiva® EdgeVR™ is an enterprise-class, IP-based Network Video Recorder designed for large-scale, geographically distributed operations. Available with hybrid IP/analog capabilities, this true IP video solution more readily scales to IP video operations than analog-based, hybrid NVRs, for greater long-term value and lower migration costs.Add to Compare
Verint EdgeVR 80 IP-based network video recorder delivers high-resolution images for both recording and live video viewing. Built with an innovative and powerful H.264 video compression engine, EdgeVR provides superior video quality at significantly lower bit rates, reducing storage and bandwidth requirements. Available with a hybrid analog/IP video option, this intelligent NVR can support up to 12 IP and analog video cameras.Add to Compare
Real-time, IP-based POS integration and alarm interfaces. The capability to leverage video analytic technologies for pinpointing the most significant video images. Multiple connectivity options to support external storage, IP cameras and customer-specific applications. Serial ATA drives. Embedded Linux-based operating system; program settings stored on SD flash card. Video input: composite, BNC connector; 1 Vpp into 75 ohms. Video analog output: BNC connector, 1 Vpp into 75 ohms (NTSC/PAL); Monitor A: full screen or quad display; Monitor B: full screen. Enclosure: metal chassis. Client user interface included. PTZ support. Windows XP or Vista.Add to Compare
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Intrusion alarm systems are currently facing a growing number of potential error sources in the environment. At the same time, alarm systems must comply with increasingly demanding legal requirements for sensors and motion detectors. As a future-proof solution, detectors equipped with Sensor Data Fusion technology raise the level of security while reducing the risk of cost- and time-intensive false alarms. This article provides a comprehensive overview of Sensor Data Fusion technology. Anti-masking alarms A cultural heritage museum in the South of Germany for decades, the installed intrusion alarm system has provided reliable protection on the premises. But suddenly, the detectors trigger false alarms every night after the museum closes. The system integrators are puzzled and conduct extensive tests of the entire system. When they finally identify the culprit, it’s unexpected: As it turns out, the recently installed LED lighting system in the museum’s exhibition spaces radiates at a wavelength that triggers anti-masking alarms in the detectors. Not an easy fix situation, since a new lighting system would prove far too costly. Ultimately, the integrators need to perform extensive detector firmware updates and switch to different sensor architecture to eliminate the error source. This scenario is by no means an isolated incident, but part of a growing trend. Need for reliable detector technology Legal requirements for anti-masking technology are becoming stringent in response to tactics by criminals The number of potential triggers for erroneous alarms in the environment is on the rise. From the perspective of system operators and integrators, it’s a concerning development because every false alarm lowers the credibility of an intrusion alarm system. Not to mention steep costs: Every false call to the authorities comes with a price +$200 tag. Aside from error sources in the environment, legal requirements for anti-masking technology are becoming more stringent in response to ever more resourceful tactics employed by criminals to sidestep detectors. What’s more, today’s detectors need to be fortified against service outages and provide reliable, around-the-clock operability to catch intruders in a timely and reliable fashion. Sensor Data Fusion Technology In light of these demands, one particular approach has emerged as a future-proof solution over the past few years: Sensor Data Fusion technology, the combination of several types of sensors within one detector – designed to cross-check and verify alarm sources via intelligent algorithms – holds the keys to minimizing false alarms and responding appropriately to actual alarm events. This generation of detectors combines passive infrared (PIR) and microwave Doppler radar capabilities with artificial intelligence (AI) to eliminate false alarm sources without sacrificing catch performance. Motion detectors equipped with Sensor Data Fusion technology present a fail-proof solution for building security “It’s not about packing as many sensors as possible into a detector. But it’s about including the most relevant sensors with checks and balances through an intelligent algorithm that verifies the data for a highly reliable level of security. The result is the highest-possible catch performance at the minimum risk for erroneous alarms,” said Michael Reimer, Senior Product Manager at Bosch Security Systems. Motion detectors with sensor data fusion Looking ahead into the future, motion detectors equipped with Sensor Data Fusion technology not only present a fail-proof solution for building security. The comprehensive data collected by these sensors also unlock value beyond security: Constant real-time information on temperature and humidity can be used by intelligent systems and devices in building automation. Integrated into building management systems, the sensors provide efficiency improvements and lowering energy costs Integrated into building management systems, the sensors provide the foundation for efficiency improvements and lowering energy costs in HVAC systems. Companies such as Bosch support these network synergies by constantly developing and optimizing intelligent sensors. On that note, installers must be familiar with the latest generation of sensor technology to upgrade their systems accordingly, starting with a comprehensive overview of error sources in the environment. Prominent false alarm triggers in intrusion alarm systems The following factors emerge as frequent triggers of false alarms in conventional detectors: Strong temperature fluctuations can be interpreted by sensors as indicators of a person inside the building. Triggers range from floor heating sources to strong sunlight. In this context, room temperatures above 86°F (30°C) have proven particularly problematic. Dust contamination of optical detectors lowers the detection performance while raising susceptibility to false alarms. Draft air from air conditioning systems or open windows can trigger motion sensors, especially when curtains, plants, or signage attached to the ceilings (e.g. in grocery stores) are put in motion. Strong light exposure directly on the sensor surface, e.g. caused by headlights from passing vehicles, floodlights, reflected or direct sunlight – all of which sensors may interpret as a flashlight from an intruder. Extensive bandwidth frequencies in Wi-Fi routers can potentially confuse sensors. Only a few years ago, wireless routers operated on a bandwidth of around 2.7GHz while today’s devices often exceed 5GHz, thereby catching older detectors off guard. LED lights radiating at frequencies beyond the spectrum of visible light may trigger sensors with their infrared signals. Regarding the last two points, it’s important to note that legislation provides clear guidelines for the maximum frequency spectrum maintained by Wi-Fi routers and LED lighting. Long-term security But the influx of cheap and illegal products in both product groups – products that do not meet the guidelines – continues to pose problems when installed near conventional detectors. For this reason, Sensor Data Fusion technology provides a reliable solution by verifying alarms with data from several types of sensors within a single detector. Beyond providing immunity from false alarm triggers, the new generation of sensors also needs to comply with the current legislature. These guidelines include the latest EN50131-grade 3, and German VdS class C standards with clear requirements regarding anti-masking technology for detecting sabotage attempts. This is exactly where Sensor Data Fusion technology provides long-term security. Evolution of intrusion detector technology Initially, motion detectors designed for intrusion alarm systems were merely equipped with a single type of sensor; namely passive infrared technology (PIR). Upon their introduction, these sensors raised the overall level of building security tremendously in automated security systems. But over time, these sensors proved limited in their catch performance. As a result, manufacturers began implementing microwave Doppler radar capabilities to cover additional sources of intrusion alarms. First step detection technology In Bosch sensors, engineers added First Step detection to trigger instant alarms upon persons entering a room Over the next few years, sensors were also equipped with sensors detecting visible light to catch flashlights used by burglars, as well as temperature sensors. In Bosch sensors, engineers added proprietary technologies such as First Step detection to trigger instant alarms upon persons entering a room. But experience in the field soon proved, especially due to error sources such as rats and other animals, that comprehensive intrusion detection demands a synergetic approach: A combination of sensors aligned to cross-check one another for a proactive response to incoming signals. At the same time, the aforementioned bandwidth expansion in Wi-Fi routers and LED lighting systems required detectors to implement the latest circuit technology to avoid serving as ‘antennas’ for undesired signals. Sensor data fusion approach At its very core, Sensor Data Fusion technology relies on the centralized collection of all data captured by the variety of different sensors included in a single detector. These data streams are directed to a microprocessor capable of analyzing the signals in real-time via a complex algorithm. This algorithm is the key to Sensor Data Fusion. It enables the detector to balance active sensors and adjust sensitivities as needed, to make truly intelligent decisions regarding whether or not the data indicates a valid alarm condition – and if so, trigger an alarm. Advanced verification mechanisms The current generation of Sensor Data Fusion detectors, for instance from Bosch, feature advanced verification mechanisms, including Microwave Noise Adaptive Processing to easily differentiate humans from false alarm sources (e.g. ceiling fans or hanging signs). For increased reliability, signals from PIR and microwave Doppler radar are compared to determine whether an actual alarm event is taking place. Additionally, the optical chamber is sealed to prevent drafts and insects from affecting the detector, while the detector is programmed for pet and small animal immunity. Sensor cross-verification Further types of sensors embedded in current and future generations of Sensor Data Fusion detectors include MEM-sensors as well as vibration sensors and accelerometers. Ultimately, it’s important to keep in mind that the cross-verification between sensors serves to increase false alarm immunity without sacrificing the catch performance of actual intruders. It merely serves to cover various indicators of intrusion. Protecting UNESCO World Cultural Heritage in China Intelligent detectors equipped with Sensor Data Fusion are protecting historic cultural artifacts in China from theft and damage. At the UNESCO-protected Terracotta Warriors Museum site, one hundred TriTech motion detectors from Bosch with PIR and microwave Doppler radar technology safeguard the invaluable treasures against intruders. To provide comprehensive protection amid the specific demands of the museum site, the detectors have been installed on walls and ceilings to safeguard the 16,300-square-meter museum site. To ensure an optimal visitor experience without interference from glass walls and other barriers, many detectors are mounted at a height of 4.5 meters (15 feet) above ground under the ceiling. Despite their height, the detectors provide accurate data around the clock while exceeding the performance limits of conventional motion detectors, which clock out at a mere 2 meters (6 feet) catchment area. Integrated video systems The site also presents additional error sources such as large amounts of dust that can contaminate the sensors, as well as visitors accidentally dropping their cameras or cellphones next to museum exhibits. To distinguish these events from actual criminal activity, the intrusion alarm system is integrated with the museum’s video security system. This allows for verifying alarm triggers with real-time video footage at a fast pace: In the case of an actual alarm event, the system alerts the on-site security personnel in the control room in less than two seconds. Added value beyond security Sensor Data Fusion technology provides a viable solution for the rising number of error sources in the environment As of today, Sensor Data Fusion technology already provides a viable solution for the rising number of error sources in the environment while providing legally compliant building security against intruders. In light of future developments, operators can leverage significant added value from upgrading existing systems – possibly without fundamentally replacing current system architecture – to the new detector standard. Added value how? On one hand, the detectors can integrate with access control, video security, voice alarm, and analytics for a heightened level of security. These synergetic effects are especially pronounced on end-to-end platforms like the Bosch Building Management system. On the other hand, the data streams from intelligent detectors also supply actionable intelligence to building automation systems, for instance as the basis for efficiency improvements and lowering energy consumption in HVAC systems. New backward-compatible detectors Bosch will release a new series of commercial detectors by end of 2021, based on the latest research on risk factors for false alarm sources in the environment and line with current legislation and safety standards. Throughout these developments, installers can rest assured that all new detectors are fully backward compatible and work with existing networking/architecture. With that said, Sensor Data Fusion technology emerges as the key to more secure intrusion alarm systems today and in the future. TriTech detectors from Bosch For reliable, fail-proof alarms the current series of TriTech detectors from Bosch relies on a combination of different sensor data streams, evaluated by an integrated algorithm. These Sensor Data Fusion detectors from Bosch combine up to five different sensors in a single unit, including: Long-range passive infrared (PIR) sensor Short-range PIR sensor Microwave sensor White light sensor Temperature sensor Equipped with these sensors, TriTech detectors are capable of detecting the most frequent sources of false alarms; from headlights on passing cars to a mouse passing across the room at a 4.5-meter distance to the detector. What’s more, TriTech detectors provide reliable performance at room temperatures above 86°F (30°C) while fully guarding against actual intrusion and sabotage attempts from criminals.
Cyber threats hit the headlines every day; however digital hazards are only part of the security landscape. In fact, for many organizations - physical rather than virtual security will remain the burning priority. Will Liu, Managing Director of TP-Link UK, explores the three key elements that companies must consider when implementing modern-day business surveillance systems. 1) Protecting more than premises Video surveillance systems are undoubtedly more important than ever before for a huge number of businesses across the full spectrum of public and private sector, manufacturing and service industries. One simple reason for this is the increased use of technology within those businesses. Offices, workshops, and other facilities house a significant amount of valuable and expensive equipment - from computers, and 3D printers to specialized machinery and equipment. As a result, workplaces are now a key target for thieves, and ensuring the protection of such valuable assets is a top priority. A sad reality is that some of those thieves will be employees themselves. Video surveillance system Of course, video surveillance is often deployed to combat that threat alone, but actually, its importance goes beyond theft protection. With opportunist thieves targeting asset-rich sites more regularly, the people who work at these sites are in greater danger too. Effective and efficient surveillance is imperative not just for physical asset protection, but also for the safety From this perspective, effective and efficient surveillance is imperative not just for physical asset protection, but also for the safety of colleagues as well. Organizations need to protect the people who work, learn or attend the premises. A video surveillance system is, therefore, a great starting point for companies looking to deter criminal activity. However, to be sure you put the right system in place to protect your hardware assets, your people, and the business itself, here are three key considerations that make for a successful deployment. 2) Fail to prepare, and then prepare to fail Planning is the key to success, and surveillance systems are no different. Decide in advance the scope of your desired solution. Each site is different and the reality is that every solution is different too. There is no ‘one-size-fits-all solution and only by investing time on the exact specification can you arrive at the most robust and optimal solution. For example, organizations need to consider all the deployment variables within the system’s environment. What is the balance between indoor and outdoor settings; how exposed to the elements are the outdoor cameras; what IP rating to the need? A discussion with a security installer will help identify the dangerous areas that need to be covered and the associated best sites for camera locations. Camera coverage After determining location and coverage angles, indoors and outdoors, the next step is to make sure the cameras specified are up to the job for each location. Do they have the right lens for the distance they are required to cover, for example? It is not as simple as specifying one type of camera and deploying it everywhere. Devices that can use multiple power sources, Direct Current, or Power over Ethernet well are far more versatile You have to consider technical aspects such as the required level of visual fidelity and whether you also need two-way audio at certain locations? Another simple consideration is how the devices are powered. Devices that can use multiple power sources, Direct Current or Power over Ethernet as well are far more versatile and reliable. Answers to these questions and a lot more need to be uncovered by an expert, to deliver a best-of-breed solution for the particular site. 3) Flexibility breeds resilience Understanding exactly what you need is the start. Ensuring you can install, operate and manage your video surveillance system is the next step. Solutions that are simple to install and easy to maintain will always be favored - for example, cameras that have multiple sources of power can be vital for year-round reliability. Alongside the physical aspect of any installation, there is also the software element that needs to be considered. The last thing organizations need is a compatibility headache once all their cameras and monitoring stations are in place. Selecting cameras and equipment with the flexibility to support a variety of different operating systems and software is important not just for the days following the installation, but also to future-proof the solution against change. Easy does it Once the system is up and running, the real work of video surveillance begins. Therefore, any organization considering deploying a system should look to pick one that makes the day-to-day operation as easy as possible to manage. And again - that is all about the set-up. Cameras can also provide alerts if they have been tampered with or their settings changed The most modern systems and technology can deliver surveillance systems that offer smarter detection, enhanced activity reporting so you learn more about your operations, and also make off-site, remote management easy to both implement and adjust as conditions change. For example, camera software that immediately notifies controllers when certain parameters are met - like motion detection that monitors a specific area for unauthorized access. Cameras can also provide alerts if they have been tampered with or their settings changed without proper authorization. Remote management of HD footage What’s more, the days of poor quality or unreliable transfer of video are long gone. The high-quality HD footage can be captured, stored, and transferred across networks without any degradation, with hard drives or cloud-based systems able to keep hundreds of days of high-quality recordings for analysis of historical data. Finally, the best surveillance solutions also allow for secure remote management not just from a central control room, but also from personal devices and cellphone apps. All this delivers ‘always-on’ security and peace of mind. The watchword in security Modern video surveillance takes organizational security to the next level. It protects physical assets, ensures workplace and workforce safety, and helps protect the operations, reputation, and profitability of a business. However, this is not just an ‘off-the-shelf purchase’. It requires proper planning in the form of site surveys, equipment and software specifications, as well as an understanding of operational demands and requirements. Investing time in planning will help businesses realize the best dividends in terms of protection. Ultimately, that means organizations should seek to collaborate with vendors who offer site surveys - they know their equipment best, your needs, and can work with you to create the perfect solution.
Technology based on the cloud has become a popular trend. Most IT systems now operate within the cloud or offer cloud capabilities, and video surveillance is no exception: virtually every major hardware and software vendor offers cloud-based services. Users benefit from the cloud due to its numerous advantages, such as ease of implementation, scalability, low maintenance costs, etc. Video surveillance as a service (VSaaS) offers many choices, so there is an optimal solution for each user. However, what about integrators? For them, VSaaS is also a game-changer. Integrators are now incentivized to think about how they can maintain their markets and take advantage of the new business opportunities that the cloud model provides. Hosted video surveillance The cloud service model has drastically changed the role of an integrator. Traditionally, integrators provided a variety of services including system installation, support, and maintenance, as well as served as a bridge between vendors and end-users. In contrast, hosted video surveillance as a service requires a security system installer to simply install cameras and connect them to the network, while the provider is in direct contact with each end-user. The cloud service model has drastically changed the role of an integrator There is no end to on-premises systems. However, the percentage of systems where the integrator’s role is eliminated or considerably reduced will continue to increase. How can integrators sustain their markets and stay profitable? A prospective business model might be to become a provider of VSaaS (‘cloud integrator’) in partnership with software platform vendors. Cloud-Based surveillance Some VMS vendors offer software VSaaS platforms that form the basis for cloud-based surveillance systems. Using these solutions, a data center operator, integrator, or telecom service provider can design a public VSaaS or VSaaS in a private cloud to service a large customer. The infrastructure can be built on any generic cloud platform or data center, as well as resources owned by the provider or client. So, VSaaS providers have the choice between renting infrastructure from a public cloud service like Amazon Web Services, Microsoft Azure, or Google Cloud or using their own or clients’ computing infrastructure (virtual machines or physical servers). Gaining competitive advantage When integrators purchase commitment use contracts for several years, they can achieve significant savings As an example, a telecom carrier could deploy VSaaS on their own infrastructure to expand their service offering for clients, gaining a competitive advantage and enhancing profits per user. Using a public cloud, a smaller integrator can host the computing infrastructure immediately, without incurring up-front costs and with no need to maintain the system. These cloud services provide scalability, security, and reliability with zero initial investment. When integrators purchase commitment use contracts for several years, they can achieve significant savings. Next, let’s examine VSaaS options available in the market from an end-users point of view. With hosted (or cloud-first, or true-cloud) VSaaS solutions, all the video feeds are transmitted directly from cameras to the cloud. Optionally, video can be buffered to SD cards installed on cameras to prevent data losses in case of Internet connection failures. Dedicated hardware bridges Service providers may offer dedicated hardware bridges for buffering video footage There are many providers of such services that offer their own brand cameras. Connecting these devices to the cloud should only take a few clicks. Firmware updates are usually centralized, so users don’t have to worry about security breaches. Service providers may offer dedicated hardware bridges for buffering video footage and secure connections to the cloud for their branded and third-party cameras. Typical bridges are inexpensive, basic NVRs that receive video feeds from cameras, record on HDD, and send video streams to the cloud. The most feature-rich bridges include those with video analytics, data encryption, etc. Introducing a bridge or NVR makes the system hybrid, with videos stored both locally and in the cloud. At the other end of the spectrum relative to hosted VSaaS, there are cloud-managed systems. Video management software In this case, video is stored on-site on DVRs, NVRs, video management software servers, or even locally on cameras, with an option of storing short portions of footage (like alarm videos) in the cloud for quick access. A cloud service can be used for remote viewing live video feeds and recorded footage, as well as for system configuration and health monitoring. Cloud management services often come bundled with security cameras, NVRs, and video management software, whereas other VSaaS generally require subscriptions. Keep in mind that the system, in this case, remains on-premises, and the advantages of the cloud are limited to remote monitoring and configuring. It’s a good choice for businesses that are spread across several locations or branches, especially if they have systems in place at each site. On-Site infrastructure All that needs to be changed is the NVRs or VMS with a cloud-compatible model or version All locations and devices can be remotely monitored using the cloud while keeping most of the existing on-site infrastructure. All that needs to be changed is the NVRs or VMS with a cloud-compatible model or version. Other methods are more costly and/or require more resources to implement. Hosted VSaaS helps leverage the cloud for the highest number of benefits in terms of cost and technological advantages. In this case, the on-site infrastructure consists of only IP cameras and network equipment. This reduces maintenance costs substantially and also sets the foundation for another advantage of VSaaS: extreme and rapid scalability. At the same time, the outgoing connection at each site is critical for hosted VSaaS. Video quality and the number of cameras directly depend on bandwidth. Broadband-Connected locations Because the system does not work offline, a stable connection is required to stream videos. In addition, cloud storage can be expensive when many cameras are involved, or when video archives are retained for an extended period. The hosted VSaaS is a great choice for a small broadband-connected location The hosted VSaaS is a great choice for small broadband-connected locations and is also the most efficient way to centralize video surveillance for multiple sites of the same type, provided they do not have a legacy system. Since it is easy to implement and maintain, this cloud technology is especially popular in countries with high labor costs. Using different software and hardware platforms, integrators can implement various types of VSaaS solutions. Quick remote access For those who adhere to the classic on-premises approach, adding a cloud-based monitoring service can grow their value proposition for clients with out-of-the-box capabilities of quick remote access to multiple widely dispersed sites and devices. For small true-cloud setups, there is a possibility to rent a virtual machine and storage capacity in a public cloud (such as Amazon, Google, or Microsoft) and deploy the cloud-based VMS server that can handle dozens of cameras. In terms of features, such a system may include anything from plain video monitoring via a web interface to GPU-accelerated AI video analytics and smart search in recorded footage, depending on the particular software platform. Optimizing internet connection Hybrid VSaaS is the most flexible approach that enables tailoring the system to the users’ needs High-scale installations, such as VSaaS for public use or large private systems for major clients, involve multiple parts like a virtual VMS server cluster, web portal, report subsystem, etc. Such systems can also utilize either own or rented infrastructure. Some vendors offer software for complex installations of this kind, though there are not as many options as for cloud-managed systems. Finally, hybrid VSaaS is the most flexible approach that enables tailoring the system to the users’ unique needs while optimizing internet connection bandwidth, cloud storage costs, and infrastructure complexity. It’s high time for integrators to gain experience, choose the right hardware and software, and explore different ways of building systems that will suit evolving customer demands in the future.
Many of us take critical infrastructure for granted in our everyday lives. We turn on a tap, flip a switch, push a button, and water, light, and heat are all readily available. But it is important to remember that computerized systems manage critical infrastructure facilities, making them vulnerable to cyber-attacks. The recent ransomware attack on the Colonial Pipeline is an example of the new types of threats. In addition, any number of physical attacks is also possibilities. We asked this week’s Expert Panel Roundtable: What are the security challenges of protecting critical infrastructure?
As an industry, we often speak in buzzwords. In addition to being catchy and easy to remember, these new and trendy industry terms can also reflect the state of the security market’s technology. In short, the latest buzzwords provide a kind of shorthand description of where the industry is - and where it’s going. We asked this week’s Expert Panel Roundtable: What new buzzword(s) rose to prominence in the security industry in 2020? (And how do they reflect industry trends?)
As a leader, I am a big proponent of using what’s happened in the past — and is currently happening in the present — to better prepare our business and our customers for what’s to come. Applying this mindset in the financial industry is particularly helpful. The emergence of various technologies and trends enables us to determine what we can optimize for the highest efficiency and satisfaction level. The past few years have been focused on the Internet of Things (IoT), data and analytics, and enhancing proactivity to mitigate the increasingly significant threat of fraud and cyber risks. While each of these elements will continue to play an essential role in the industry moving forward, we’re starting to see two common threads that will rise above all in the coming years: collaboration and convergence. When broken down in terms of its relevance for banks and credit unions, we can expect to see these trends in certain areas in the future. Security and customer engagement We’re starting to see two common threads that will rise above all in the coming years: collaboration and convergence There's no overstating the importance and value of one's hard-earned money. When it comes to keeping it safe, consumers demand their relationship with a financial institution is built on one powerful characteristic: trust. Customers must feel confident in placing their funds in someone else's hands, with the comfort and understanding that the institution's primary goal is to meet their needs while safeguarding information at all times. The digital transformation and incorporation of intelligent technology into the banking environment have undoubtedly changed how trust is defined in this industry. As customers become more tech-savvy, their idea of a trustworthy and engaging banking partner begins. We're seeing the necessity of digital services for elevating customer satisfaction, such as mobile banking, chat features, and intelligent virtual assistants, complementing in-person service, and modernising customer engagement. Now that customers are becoming more aware of some of the risks imposed by technology, simplifying and automating programs is more critical for banks than ever before. To address and mitigate customer concerns about data security and privacy, financial organizations must prioritise deploying an integrated, end-to-end solution that considers the vulnerability of the Internet of Things (IoT) and the risks of the cyber world. A security-led strategy But the aspect of security must remain at the centre of this strategy. As both the financial industry and the threats it faces become more complex, the promise of secure housing and management of one of our most sensitive assets is always top-of-mind. Ensuring adequate security, surveillance, and investigative processes are the key for banks to establish superior customer engagement and develop a healthy relationship based on protection. It’s a simple fact: Financial institutions can’t drive exceptional customer service without security having a seat at the table. In general, the customer experience is typically made up of these two elements above all else, and loyal customers place their trust in banks to demonstrate an apparent dedication to understanding how both sides impact one another — which is in more ways than one. Financial institutions can’t drive exceptional customer service without security having a seat at the table As we start to see the physical layouts of branches evolve to become more productive for customer engagement, it’s imperative to ensure that security is considered in these changes. For example, many bank environments are transitioning to be more liberal and free-flowing, which we will all take advantage of after the pandemic is behind us. These new environments could introduce various risks when it comes to employee and asset protection, making it paramount for security to react to this adjustment accordingly from a safety and fraud perspective. Physical security and IT By now, you’re probably more than familiar with the term “convergence.” The evolution of the threat landscape and the significance of risks that today’s banking and financial providers face have made the word top-of-mind. Organizations worldwide demand a more holistic approach to security to ensure they’re consistently protecting consumer data, employees, brand reputation, and infrastructure. Though this type of convergence has already begun to occur, the integration of physical and IT security will only become more critical in the years ahead. The use of advanced networked and cloud-based technologies in financial institutions — primarily through wireless network connections — has led to IT’s increased involvement in security decisions and operations, which is the right path to follow if a bank or credit union wants to ensure its solutions are protected against cyber threats. The collaboration between physical and IT security teams must exist at every level of the process; from procurement to installation to maintenance over time, it’s crucial that IT personnel are involved and asking the right questions. In the future, physical security groups will likely rely on IT professionals to help them solve problems regarding the technical and cyber sides of security solutions. Collaboration is key Whether it's due to the evolving risk landscape financial institutions face or the desire to adhere to customer demands, it’s become clear that collaboration will be the key to success for banks and credit unions in the future. A modernised customer engagement strategy must incorporate a focus on security, and that element of safety must be comprised of both physical and IT components. A modernised customer engagement strategy must incorporate a focus on security But while the traditional definition of convergence may seem simple to understand, we must look beyond these words to determine how exactly the practice can and should be implemented. In a more detailed sense, convergence can be defined as a marrying of cyber and physical security capabilities to form a comprehensive approach to identify potential threats and expand awareness for better event response. This level of “converged collaboration” fuels a unified and cohesive security strategy built with all areas of security in mind and can lead to better incident management and faster response. And with the potential impact of today’s security threats on a bank’s people, property, and brand, this approach is necessary to ensure that no stone is left unturned.
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