3 Innovative Solutions Revolutionizing Bank Security

Banking security has been in drastic development and advancement for a number of years as most processes become more digital. In fact, some of the best security innovations are used in the banking sector today. Many of the largest banks out there use these systems to effectively manage the security of their customers at all times.

These bank security systems must be reliable and be able to deliver undisturbed performance in the toughest of times. Below we delve into three innovative products revolutionizing bank security systems.

Mobile Banking Payment Security

Mobile banking payment security is emerging new security platform for banks. Many financial institutions have encountered that the major hurdle to overcome is user adaptation and the lack of confidence in the security of mobile services. Integrated biometrics and specialized mobile banking applications are working together to provide a service beneficial to financial institutions and their patrons.

Mobile banking is not a new concept, and is the target of heightened security critique. As we all know mobile devices get stolen or lost quite often. The physical of your mobile device is not the problem. The amount of mobile anti-malware apps have a smaller availability on mobile devices than on desktops and laptops. Instant push notifications and geolocation tracking, mobile banking allows for custodians to monitor any fraudulent transactions in real time with their banking institution.

More recent developments allow for improved banking security systems by using biometrics and a specialized applications. This also harness some self-help features which decrease customer calls to the customer care service.

IP-Surveillance Monitoring Systems

IP-surveillance monitoring systems are also widely used in banking security systems out there today, allows financial customers remote, real-time control of all their branches, ATM’s and their corporate offices, verify alarm events immediately with integrated video capabilities, search and report easily on a specific site or event or even generate customized reports from thousands of sites while being anywhere on the network.

This digital IP-surveillance technology can be adapted based on the requirements for every individual institution. This technology uses the client’s internal IP network and requires no dedicated phone lines. This technology enables remote management eliminating the need for constant site visits, and the client can monitor the whole system internally. For instance, see the video below to understand the comparison and value between digital IP-surveillance systems versus more conventional CCTV surveillance.
This will eliminate operational costs from external management contracts. These surveillance solutions all the use the most leading brands in digital video systems, video monitoring, intrusion panels and wireless devices make this kind of security solution a truly open system that offers integration on any level, by providing reliability and maintaining flexibility.

Cash-in-Transit

Cash in transit is another area of banking security, this is the physical transport of banknotes, coins and other items of value. To many different locations including, cash centers, bank branches, ATM points, very large retailers and a number of other premises holding large amounts of money.

Most cash in transit organizations are private security companies that offers the handling of money as a service. By law the cash in transit companies are seen as logistic companies within the private security industry and must comply with certain legislation. This may impose restrictions on the use of firearms, kind of vehicles used, the amount of members to be used in a crew, or even the use of an intelligent money neutralizing system.

These companies are very specialized in the transportation of money, the drivers are never allowed to leave the vehicle until it returns to the keeping premises, all of the crew on a vehicle like this must wear bulletproof vests or ballistic helmets.

5 Forms of Technology That Are Revolutionizing How We Live

Designed to make life easier, advancements in technology have come a long way over the years. These advancements continue to take things to the next level, whether via the delivery of services or making leisurely activities more enjoyable.

Revolutionary innovations in tech are countless these days, however there are those that have made a significant impact on how we live today.

1. Smartphones 

Mobile devices are arguably the most used device in the world right now and they have come a long way since their inception years as just simple cellular communication devices to acquiring the tag smart.

Right now smartphones are capable of just about anything from reminding you about meetings, opening your garage door, the list goes on and there’s no telling how much more they could do. Smartphones have revolutionized how we bank, how we network and just about every aspect of our daily lives by seamless efficiency bundled with a host of creative features.

2. Drones 

Drones are essentially advanced aerial vehicles that are controlled on the ground by a person or travel on a pre- programmed command. With their introduction as military surveillance tools, drones have gone out of their way to serve more un-military’ functions.

Nowadays it is not uncommon for RC drones with cameras to be spotted hovering above homes to take shots of real estate and property for prospective buyers as well as landscapes capturing amazing photos that were not previously possible. Drones have also formed an important part of service delivery as they save a lot of time particularly during shipping. This has seen a lot of companies incorporate drones as a system of service delivery to clients.

3. Social Networking

Owing to the huge strides in Information Technology (IT) courtesy of computers, social networks are now a part of daily life. Communication has changed from a tasking formerly expensive venture to a relaxed, affordable and fun activity that is now done especially for the latter.

Social media has seen tremendous changes over the years and will continue to grow. By virtue of social networks, you stay connected to the world both socially and professionally, you are able to access tons of information on the go as well as a platform to interact and share ideas. In addition to this playing a huge role in business information technology, all this is now a part of daily life.

4. Artificial Intelligence

Increasingly, robots and other forms of artificial intelligence are slowly but surely integrating themselves to our daily lives and becoming a basic need. The idea of creating technologies that can work in harsh conditions where human beings wouldn’t survive is one that has put a smile on many a face.

With artificial intelligence we are now able to make more accurate prediction pertaining to nature and climatic conditions. Space exploration has been on the forefront of employing this form of intelligence we are now able to look at our planet more differently and put measures into place to make this world a better place.

5. Electronic Funds Transfer

What would you without PayPal or your VISA card? Access to your money has become a breeze with the advent of electronic transfers, shopping is now a very enjoyable affair both in physical stores and on online ones.

With money being instantaneously transferred globally (even via smartphone) you get to have your money with you everywhere you go with security as an added assurance to ensure money is never an obstacle to doing anything anywhere.

With the above as just a small portion of what technology has done, there’s no telling what more can be achieved at this pace.

The Role of IT in Advanced Logistics and Supply Chain Management

Information Technology (IT) is the study, creation, support, utilization and management of computer based information systems, especially computer hardware and software applications. IT is not limited to computers, with the current technological advancements in area of mobile and other handheld devices, IT is fast moving onto other forms of business and technology.

A supply chain on the other hand is a network of suppliers, subcontractors, and distributors used by a manufacturer to source for its raw materials, supplies and components. Logistics organizations store, transport and distribute work-in progress and supplies within the entire supply chain and also distribute the finished product to clients and intermediaries therein between. Thus, it follows that the integration of logistics operations and supply chain will not only reduce costs and improve efficiency but will also increase the competitive advantage of the organization.

How Technology Has Advanced SCM

A supply chain management (SCM) system is therefore concerned with the flow of information and products between the member organizations within the supply chain. Recent advancements in technologies have ensured that organizations can avail this information quite easily, thereby greatly reducing the cost of information. With integrated supply chain solutions, the flow of information and materials is usually bi-directional.

Today’s advanced IT systems have enabled organizations to leverage some turnkey logistics and warehouse management, and packaging systems as well as custom Electronic Data Interchange (EDI) solutions at a fraction of the previous price. This development, where the supply chain system is inter-organizational has three very distinct advantages.

First and foremost, there is a drastic cost reduction in the route to market, distributorship and production cost.

Secondly, the productivity of all the organizations in the supply chain is bound to improve and lastly there is bound to be a drastic improvement in the development and execution of product and market strategies.

Facilitation of Logistics Collaboration

For many systems, there are at least five basic levels in the system where logistics technology can enable high-levels of collaboration. The first level is at the remote input/output node where a member can participate from a remote location and interact with application system.

The second level is where a member of a fluid supply chain shares a single application such as an order processing system or inventory query with the application.

The third level is where a member of the supply chain develops and shares a network which links it to other participants with whom it has a business relationship.

In the fourth level, a partner organization may opt to develop and share a network with different applications which can be used by other members to make queries, place orders, check stock levels etc.

The fifth and final level is where a member decides to become more of data processing or communications utility and integrates any data coming from other participating members in real time and avails it when required to do so.

Next-Level Supply Chain Solutions

Solid supply chain solution providers choose the level of IT that best fits their clients' needs and requirements and will not overstretch or overburden their networks or lead to instances of information overload.

Another huge area where IT has become a facet in supply chain management has been in the integration of Electronic Data Interchange (EDI) into most supply chain management systems. EDI refers to the computer to computer exchange of business documents in a standardized format.

Through the use of EDI, supply chain partners are able to overcome the exaggeration and distortion usually prevalent in supply and demand set ups by simply improving technologies available so as to allow for real time sharing of actual supply and demand information. This not only improves customer service through limited stock outs but is also cost efficient, improves the billing process and enhances productivity for all the players or partners involved.