Cutting-Edge Security Technology Behind Today's Banks & Financial Institutions

Security is the number one priority of any corporation, but it is even more important for the banking industry. In this digital-age more and more sensitive data is being processed on internet connected networks which are increasingly vulnerable to hackers.

In order to keep that data protected network security system focus on three things: a good firewall, intrusion prevention, and intrusion detection. These bank security systems focus on the digital aspects of banking, which have revolutionized how financial institutions operate.

Digital Security Systems for Banking

The firewall is the first line of defense in protecting any networks security even if that network isn’t connected to the global network. The firewall is a simple gatekeeper which selectively blocks or allows traffic through the network.

This selection is based upon rules that are decided by the Network Administrator and relies on the person doing that job to be up to date on the latest news and tricks that hackers are using to sneak past firewalls. Companies that specialize in bank security systems, like Seico Security, are starting to adopt such security technologies into their suite of solutions.

Normally this would mean that any good banking system is dependent on well-educated and proactive Network Administrators but thanks to development in detection and prevention programs they are not the only line of defense.

Intrusion Detection and Intrusion Prevention Systems (IDS/IPS)

Intrusion Detection and Intrusion Prevention Systems (IDS/IPS) have become much more sophisticated. These actively monitor the traffic on the network 24/7 whether or not someone is there. The first thing these systems do in their monitoring is look for strange or unusual activity on the network.

If most of the network activity takes place between 9am and 6pm, the detection systems record this normal activity and watch for activity that shouldn’t take place outside of those time frames. The second part of the detection system is just how much data is moving on the network; when there are sudden increases data moving through at a time where it shouldn’t the system flags that activity and block it from taking place.

IDS/IPS is fully customizable and available from many providers. Cisco is one of the highest ranked and most well-supported supplier of IDS/IPS systems and frequently stays ahead of the game with the Cisco Self-Defending Network IPS 4200 Series Sensor by monitoring the known hacker networks for the latest exploits and tools being used.

This allows them to “pre-patch” vulnerabilities in their systems removing some of the human error out of the equation. However, most providers do this same thing and has become nearly industry standard by this point.

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In IPS there is an active pre-patch shield in place that forms a second security wall around the network which allows for a quick response to possible intrusions; the pre-patch shield identifies the possible intrusion and simply resets the connection to that intrusion.

This is a very simple but effective method in preventing nefarious entities from entering the network through known vulnerabilities until it is repaired. On the back of this is IBM’s Protocol Analysis Module (PAM), this system from looks at the network data on a deeper level than an IPS can. Learn more about this system by visiting IBM.

Monitoring & Pinpointing Unusual Activity

One of the popular ways for hackers to get into a network is to hide their activity deep within normal data transfers on the network. PAM allows us to look deeper at normal activity in order to find strange behaviors that may be hidden from the IDS and IPS system.

For example, hackers will try to hide their activities behind the IP’s of normal customers accessing their accounts. This can sometimes slip through the Firewall, the IDS, and the IPS security since it seems to be normal activity but PAM takes a deep look at the data and makes sure that what the IP sends is what is normal for that IP to send.

If the hacker is trying to download a virus to the system through a client's IP’s this will show up as excess data in the connection and PAM can shut it down. Since PAM is as customizable as the other security systems, this means that there can be a strict restriction on what outside data and connections are allowed or those restrictions can be loosened for a specific client, IP’s, or outside networks.

Network security is a critical infrastructure of the banking industry which is in continuous motion and development. Providers for IDS and IPS are constantly updating and monitoring the effectiveness of their systems to help support the banking industries data and networks.

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.

3 Security Systems That All Small Businesses Should Consider

There are critical and important elements even in small businesses that require protection such as files, computers and other assets. Business security system should not be seen as expensive or extravagant because its overall contribution to the business security and success is overwhelming. You should not ignore incorporating security systems for your business, because they not only protect your business against tangible breaches, but also digital theft and online security threats.

The type of security system you install for your small business depends on what you want to protect in your business. Below are three types of security systems that you should highly consider:

Video Surveillance

Video surveillance systems monitor and protect your business both from the inside and from the outside. Video surveillance cameras are essential in case you want to monitor the progress of your business through the day. Many video surveillance systems can be integrated with your mobile device or even the web for easier access even when you are far from your business premises.

This system helps you track the action of your customers as well as your employees round the clock. It also gives you a video proof in the event that you need to file an insurance claim for damages or theft. You can easily install this systems via a vendor who sell them to you and also help you in setting up the necessary software to run the system.

Alternatively, you can turn to the web and purchase the security cameras and other accessories and install them yourself. When you opt to install the system yourself, the cost is significantly reduced because the only cost you incur is that of the security cameras and their accessories. On the other hand, a professional vendor will charge you an initial installation fee and monthly maintenance fee which will sum up to a large chunk of money.

Digital Security System

Digital security and surveillance systems protect your computer and web-based documents and files, customer information, online transactions, and other software programs that helps your business run smoothly. These systems are crucial to your business especially considering the current risk of hacking and identity theft. It helps protect your business from hackers, viruses, spyware and other threats.

Another key importance is protection from massive losses in terms of hours of productivity, interruptions in conducting normal business and potential loss of customer in case the business information is compromised. Such consequences can affect your company greatly even to the extent of bringing it to its knees and should therefore be avoided at all costs.

Viruses and spywares can be avoided by installation of a good antivirus program and a firewall program that will protect you from malicious websites. You can also protect your business information by hosting it virtually via online services. You should look for the best service that will not lose or compromise your information.

Access Control Systems

This system prevents access of certain rooms by all employees. Employees with security clearance are the only one allowed to access those rooms. This system can help you keep sensitive or branded business information from falling on the wrong hands. They can also restrict access to certain risky sections of the business to inexperienced employees in case it is a production company.

These systems are easy to use because all you require is to set a keypad entry to a door you want to restrict. You can also setup a networked system that involves access cards. This system is very essential in businesses where certain information is classified and cannot be released to all employees. This includes government institutions and other hierarchical form of businesses. The cost of installing this system depends on the type of hardware that you opt to use and also the number of doors involved.

These three small business security systems can help you in running your small business smoothly without fear of compromise or vandalism. These systems will always keep you appraised of the day to day activities and occurrences in your business premises even when you are away.

5 Elite Technologies Used By Today's Top Banks & Financial Institutions

The days are gone when banking was limited to passbook and check book transactions. Today, transactions and money processing is completely different. Banks and financial institutes use elite technologies for secure and protected financial transactions. In case, you are not aware about the technology that these institutes use, then here are five elite technologies used by today's top banks and financial institutions.

Encrypted transaction

When you do any kind of online transaction, optimal security is important in that transaction. In order to keep all transactions secured, all the top banks and financial institutions use a secure and encrypted data transfer between your computer and their server. In essence, having the proper encryption protocol has become a staple and necessity among bank security system products

This highly advanced and digital form of secured and encrypted data transfer always gives an assurance to people that no one will be able to hack the data. Also, all these instituted try to stay updated with latest encryption technology so use gets the best security in easy ways.

One time password devices

In present time only your user ID and password is not enough for the online transaction. In order to complete the transaction, these days banks and other similar organizations ask you to use one time password that they send on your mobile devices or emails. Many top banks and financial institutions prefer to send this password on their one time password devices that makes the online transition really easy and very secure for people

IVR help and transaction

Earlier physical transaction was the only medium for money transaction, but now a day’s you can do the transaction even if you do not have any internet connectivity. For that many banks and financial organisations allow you to do the transaction using IVR ("Interactive Voice Response") and phone banking password. This kind of transaction helps users to do the transaction from any remote location. Other than this, IVR offer so many other facilities also including balance enquiry, card blocking, card holding and much more.

Biometric access control

In earlier time, it was easy for unauthorized people to access the restricted area as long as they have the physical key for that restricted area. But now a day’s all kind of top financial organizations use advanced access control system. This kind of access control systems use biometric reading of people so only authorized people can get access to restricted or specific area of the bank. In addition to financial institutions, other applications of biometric access control systems can include high security bank vaults, locker rooms and other similar areas.

Non-stop logs creations

These days, people do millions of transaction in every minute. Sometime few transactions get failed also due to various factors include bad internet connection, mistakes, insufficient fund or other issue. In this kind of situation banks need to return the money to their customer and they can do it only if they know the exact reason for this failure. That is why banks keep a record or log of everything and they use it when needed.

Other than this, bank or similar financial organizations always remain a prime target for hackers. To avoid this trouble, banks keep on increasing their security and they continuously take backups of their communication at various servers so they can avoid any damage due to any hacking effort.

3 Revolutionary Surveillance Systems Redefining Security Monitoring for Businesses

We live in an ever more threatening world with criminal element of all kind feasting on the civil morality of society, Injecting grief and distress in victims of their sinister plots and plunders, leaving sadness and chaos their wake. We watch the stories on the news each night and sympathise, but is there a way to prevent these nightmare from happening or catch the evil doers before they dissolve into obscurity?

The answer is yes and various systems and methods have been used for decades to increase the chances of catching perpetrators before they strike or before they escape the scene of a crime.

Identifying a crime before it happens is possible with the right tools, expertise, and some amount of luck. Building a profile on a particular individual that displays signs of potential assailment is one way to catch a criminal before a crime is committed.

This involves meticulous monitoring of the area being protected, may it be a building or an entire city. Such mammoth undertaken is made possible by the advancements in modern surveillance systems which include but not limited to: digital IP surveillance, transaction surveillance and social network analysis.

Digital IP Surveillance Systems

IP Surveillance provides a modern alternative to analog video surveillance. IP surveillance uses an IP camera to record video footage which is then sent over an IP (Internet protocol) network.

This method provides numerous advantages over regular CCTV systems which includes; quicker search, improved convenience, higher quality and more durable content, also the ability to view real time video footage from any geographic location through the network. Banks and other organisation make full use of this surveillance method which is effective in not only catching perpetrators, but also acts as a deterrent with cameras in clear sight.

There are many digital IP surveillance systems coming out onto the market, such as Pelco, Arecont Vision, March Networks and Axis Communications, all of which you can find at SeicoSecurity.com.

Transaction Surveillance Systems

Transaction surveillance is the auditing of individual customer transactions within a financial organisation in order to identify fraudulent activities or terrorist funding. Companies use monitoring systems to identify potentially suspicious activities which are reported to the relevant authorities. The areas monitored are currency activities, funds transfers, monetary instruments sales, ATM transactions, significant balance change, nonsufficient funds and non-resident alien accounts.

Monitoring these activities helps to prevent criminals using the system to fuel their unlawful endeavours. Transaction surveillance can be an invasion of one’s financial privacy, but it is necessary for macro security in the banking sector. Unlike most systems that demand comprehensive surveillance system equipment, these are mostly digital based in the form of advanced software.

Security Media Security Monitoring (Social Network Analysis)

Social network analysis (also called social media security analysis) is the monitoring and filtering of vital information generated on social network sites like Facebook and Twitter to identify a pattern of interest to authorities. These patterns of interest are generated by criminals and terrorists who use social network sites for communicating with associates and search for potential recruits.

This is a fast growing problem and governments worldwide invest heavily in research involving social network analysis. Powerful data filtering systems capable of sifting through terabytes of information in seconds, search for keywords and phrases used on social network sites to identify wrong doers. There are many social network analysis and security solutions out there, such as Signal, and more are coming out every year. For a great introduction on social networking analysis, visit Orgnet.com.

The monitoring and surveying of various sectors of society helps to restrict the progress of unlawful activities and maintain confidence in the business community. It may be intrusive and even offensive but the benefits far outweigh the insults.

The Most Advanced Bank Security System Technology

Considering the sensitive nature of information and assets a financial institution withholds, banks are one type of organization that have a very high need for security. In today’s digital world, banks are not only protecting their physical assets but their data and intelligence property too.

To ensure safety and protection of assets, most banks invest in advanced security systems like IP surveillance systems, access control systems, bank security equipment, and much more.

Access Control Systems 

Access control is described as the selective restriction to a place or a resource. In the past, locks were used as the mainstream mechanism for access control. However, they had several limitations with a major one being unauthorized copying of keys. A lock is perceived as a physical barrier to a room. Anyone who has the key to it can access the room at any time unless they are intercepted by security personnel.

A reliable access control system and especially one designed for such vulnerable places like a bank should be selective of people who are allowed to enter or exit, rooms they can enter and when they are allowed to enter. As one of the most standard forms of bank security systems, advanced access control systems take care of this by using computers to solve the limitations of a traditional lock. People access rooms using biometric data like fingerprints or other credentials like a workplace card.

This bank security solution is programmed to read this data and allow access accordingly. It then keeps a log of all entries and exits. Since the systems are intelligent, they can bar access to employees after working hours depending on hierarchy. The bank’s security personnel can also bar access to just a single employee if they have been fired or if they raise any kind of suspicion. A log of all entries and exits is kept to help with investigation should there be a security breach.

Important to note too is that access control systems selectively allow only certain staff to high risk rooms. For instance, the control system can be programmed such that only the bank manager is allowed access to the vaults.

IP Surveillance Systems 

An IP surveillance system is mostly used for surveillance of digital activity, such as online or computer-based transactions. Unlike analog CCTV cameras, IP surveillance systems are capable of sending and receiving data via a computer network or the Internet. This type of IP surveillance system is favored by most banks for its several benefits. Or find this type of surveillance system at suppliers like SeicoSecurity.com.

For one, its security quality is superior implying that the bank’s security personnel will find it easier to monitor changes in images. Such convenience paves way for quick decision making which is paramount to protection of digital resources, property and people. Other benefits presented by this kind of surveillance are inclusive of easy installation, scalability and cost effectiveness.

An IP surveillance system recordings can be accessed from a remote area via the Internet. This is convenient putting it in mind that staff members responsible for viewing the surveillance videos are not necessarily required to do it on site. In addition, this type of camera is intelligent and capable of triggering an alarm if it becomes suspicious of foul activity.