Intrusion alarm systems are at the very heart of your financial institution's security capabilities.
That heart races when an alarm sounds. And when an incident is deemed to be a false alarm, you can't help but breathe a deep sigh of relief. Bank robberies are a constant threat, and while they have diminished steadily over the years, you can never be too careful, nor take for granted a responsive alarm system that works seamlessly with the other aspects of your network.
That said, when emergency officials are notified and crews scramble to respond to a potentially hostile situation, your sense of contentment is their frustration, arriving to find nothing out of the ordinary. If these false alarms become commonplace, your financial institution could be fined thousands of dollars for wasting precious time and resources.
Leveraging managed services from BranchServ for your intrusion alarm allows you to more effectively optimize your systems, and facilitates remote diagnostics to address the pain point of false alarms so authorities are only notified when the situation at your facility truly represents a clear and present danger.
What is so special about alarm management services?
Your bank's ongoing security rests on three key pillars: video surveillance, access control and alarm systems. None of the three is more important than the other; they must work collaboratively to ensure the protection of your facility's assets. Naturally, while your cameras and video equipment handle the spotting and identifying, the alarm system does the notifying — alerting you, area law enforcement and all other relevant parties to what's happening in real-time.
Although security cameras and alarms are designed to prevent problems, they can also cause them due to human error, mistaken identity or tech glitches. As mentioned, bank robberies have fallen rather sharply in recent years, with just 3,000 nationwide in 2018, according to the most recent statistics available from the FBI. That's down from the approximately 6,700 a decade earlier.
Additionally, when it comes to all property-related robbery incidents, only 1.4% of them occurred at financial institutions in 2019, FBI figures show.
On average, however, banks, credit unions and community financial institutions are responsible for more false alarms in the U.S. than the average commercial establishment (such as clothing shops, pharmacies or grocery stores), according to the False Alarm Reduction Association.
The number of times police and fire departments respond to false alarms will vary from one city to the next, but these can easily rack up costs in the tens of thousands of dollars. To put that into perspective, the average dollar amount banks lose due to bank robbery is $4,213 per incident, according to the FBI's most recent data.
"Your bank can avoid the financial consequences of false alarms with an alarm management service provider."
While false alarms can't be avoided entirely, your bank doesn't have to suffer the financial consequences with an alarm management service provider. At BranchServ, we'll stay on top of all alerts as they happen and can work with you to call off the authorities if the alarm was triggered in error. BranchServ helps ensure that alarms are filtered for false activations so only actual emergencies are responded to.
Notably, another advantage of intrusion alarm managed services is the opportunity to integrate fire extinguisher monitoring. With en-Gauge in place, state-of-the-art smart monitoring helps you comprehensively manage your fire safety equipment so extinguishers are not only prepared for use in the event of a fire, but are used only when needed. And ultimately, this eliminates the need and the cost associated with compliance mandated physical inspections.
Coordination with access control updates
In conjunction with your access control system, intrusion alarm managed services by BranchServ provide you with the assurance that qualified-personnel-only portions of your facility stay that way by updating PINs, passcodes and touchpads when there are changes to your staffing.
The banking and finance sector has an elevated turnover rate — one of the highest among all major industries at 23.5% for non-officer positions, according to a survey conducted by the consulting firm Crowe LLP. Although not as substantial, turnover has also climbed for officers — 7.5%, up from 3.6% in 2013.
"Access codes need to be updated to avoid potential breaches in security."
Whether these individuals are moving on to another position within the industry or leaving it altogether, access codes need to be updated to avoid potential breaches in security. All too often, however, these administrative tasks aren't addressed, literally opening the door to the off-limits rooms, vaults and back offices of your financial institution.
Managed services can proactively address these accessibility aspects of running a tight ship banking facility.
Even if you operate in a small community where crime is low, you can't afford to let your guard down. With managed services, you won't have to.
From assistance with penetration testing to best practices and so much more, managed services from BranchServ has your branch's back. Contact us today and take your facility to the next degree of security readiness.