The financial services industry is filled with stringent oversight and companies face immense pressure to ensure the integrity of their operations.

With a need to optimize customer and workplace safety, as well as address cybersecurity issues, financial firms must not only invest in the right AI video surveillance solutions, they must also maintain robust, transparent, and timely reporting and audit processes.

As one of the world’s leading video surveillance companies, Hanwha Vision offers NDAA-compliant solutions that are relied on by companies in every part of the financial sector.

It’s range of AI-powered video surveillance solutions offer an emerging solution to enhance safety, increase productivity and minimize the time required for audits and internal compliance reporting.

Oversight With Intelligent Surveillance

Unlike traditional surveillance options, today’s modern AI video systems go well beyond simple video recording.

They are equipped with advanced object detection and behavior analysis for things like loitering and vagrancy. With proactive, real-time notifications, security leaders can address various types of threats and anomalies relevant to the institution’s day-to-day operations and needed for security incident reports.

For example, AI-enabled cameras with License Plate Recognition (LPR) features can accurately identify vehicles as they enter parking lots. Other AI cameras, likeHanwha Vision’s TNV-C8011RW Wall Mount Camera can be positioned at entrances and exits to identify customers and employees at physical branches or corporate offices.

With Hanwha Vision’s range of discrete cameras, like our PNM-9000QB and XNB-6002, suspicious activities, such as frequent cash withdrawals or people loitering near indoor or outdoor ATMs can be spotted in real-time, with sensors alerting security personnel to provide immediate and necessary responses.

Integration With Other Systems

Our open-platform approach enables institutions to integrate Hanwha Vision AI video surveillance cameras with widely-used Video Management Systems (VMS) and access control solutions.

This forward-thinking “security by design” approach positions organizations for today’s compliance needs and prepares them for evolving regulatory landscapes. Strategic application of electronic security technology emerges as a crucial ally in navigating security and compliance complexities.

Addressing Storage Requirement Guidelines

By utilizing Hanwha Vision’s advanced algorithms for video compression, financial institutions can meet and exceed suggested industry guidelines for video storage. Many financial institutions strive for a minimum of 90 days of video storage.

Our cutting-edge video-compression technology, WiseStreamIII, effectively maintains high video quality while significantly reducing data sizes. Users also value how WiseStreamIII can process more high-quality footage without the need for additional network and storage devices, providing substantial CapEx and bottom-line savings.

WiseStreamIII effectively maintains high video quality while significantly reducing data sizes.

More Accurate & Faster Compliance Reporting

For internal or external audit purposes, financial institutions must produce extensive reports.

With the right integrated AI video surveillance systems, reporting can be made easier via event tagging and meta data generation.

By automatically tagging video footage with relevant metadata – including time, location, people involved, and their specific behaviors – an easy, searchable audit trail is created. This audit trail can simplify reporting and, in the case of incident tracking, provide easily searchable evidence for the proper authorities.

This enables financial institutions to improve reporting accuracy, potentially reduce costs, and minimize the chances of human error.

Last Thought – Ensure Privacy Considerations

A final consideration for this article, it’s clear that advanced AI-enabled video surveillance systems provide clear advantages for financial institutions, from enhancing safety, improving customer experiences, and increasing operational efficiency.

But, it’s also important to note that the use of AI video surveillance solutions must be carefully balanced with any personal privacy and data protection regulations that may be required in the region of the institution’s operations, like GDPR, CCPA and more.

Financial institutions must provide clear and transparent guidelines about surveillance policies to employees, customers, and contractors. They must also implement strong data security protocols to protect recorded footage and analysis results.

In this area, Hanwha Vision’s robust commitment to cybersecurity is seen as highly advantageous for financial institutions.

Hanwha Vision security and surveillance products offer the highest cybersecurity possible with unique certificates embedded into every device during each phase of the manufacturing process.

*Hanwha Vision solutions are Federal Information Processing Standard Publication 140-3 (FIPS 140-3) compliant.