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How Face Recognition and Access Control Systems can be used in Banking and Financial Institutions?

How Access Control Systems can be used in Banking and Financial Institutions?
How Access Control Systems can be used in Banking and Financial Institutions?

How Access Control Systems can be used in Banking and Financial Institutions?

From the late 1990s, commercial banks and non-banking financial institutions, have persistently planned and adapted digitalization in the services offered by them to enhance efficacy in their operations as well as enrich customer satisfaction. The fast-track digitization in the banking sector has made way for yet another technology today. The need for Access Control Systems for Financial Institutions is an important one that could revamp the prevailing capacity of the industry.

Banking Made More Secure and Efficient

Access control systems, along with affiliated technologies such as identity management solutions, visitor management systems, and Attendance Terminals for attendance are potent enough to not only safeguard the banking and finance sector from numerous threats but also embolden goodwill and rapport with the customers. Typically for financial institutions, the primary focus for minimizing threats is towards IT security. That should in no way imply that physical security can be undermined. The soundness of physical security in banks and financial institutions plays an important role in preventing security breaches and enhancing an institution’s image.

As our world becomes increasingly interconnected and various systems become dependent on each other for optimum functionality, the potential of security breaches doing massive damage to data, assets, and reputation is higher than ever. Thus, the integration of biometric identification and access control technology into the organizational structures of the finance industry would become an absolute necessity in the near future to gain an edge over others in the competition.

Heightened Scope of Access Control Systems for Financial Institutions in Different Spheres

In recent years, mobile phone manufacturers have increasingly popularized Face Recognition & Biometric technology such as face recognition and touch ID fingerprint sensors. Making such incredible technology accessible to millions of people has had its own advantages in the form of increased awareness about its usage and advantages, as well as a critical eye for its potential areas of application. Due to this, industries all over the world leaped at the chance of reaping the benefits from people enthusiastically accepting this new technology. Experts started analyzing the areas where advanced security is a must-have. Naturally, banking and finance had to be one of the sectors on that list.

Any financial institution can accrue the benefits of robust security and smooth administration by incorporating the latest biometrics technology into its day-to-day operations. There are numerous ways through which biometric technology can be encompassed in this institutional setting. An intelligent access control system backed by biometric credential authentication assures unrivalled security of assets and confidentiality of valuable information, but it also does not unreasonably restrict movement within the structure. Having a smart access control system empowers the banks’ physical security personnel and institutes a solid security regime in place.

A Glance at Essential Tech Features for Access Control Systems

While we’re talking about sound security strategies, it would be remiss to not mention a significant-tech component that upgrades your access control framework. As aforementioned, it can be unanimously agreed upon that the level of risk mitigation gained from implementing access control systems depends upon the features and monitoring mechanisms used (multi-factor authentication, self-locking, anti-passback, etc.), and adding supporting technologies (visitor and identity management systems, surveillance cams, etc.). To top all of this, the OSDP Protocol with TLS 1.2 is a useful, advanced tech rollout to improve ACSs. Simply put, OSDP (Open Supervised Device Protocol) is a communication platform for access control systems that transmits commands between the reader and the control panel. TLS 1.2 is a better Transport Layer Security version, being termed as “the most secure data communications protocol” available. This framework enables secured encrypted data transmission between devices and the ACS central. If you’re serious about building an impenetrable access control system for any bank and financial institution, it is advised to go for this degree of protection.

Manpower Is Still One of The Best Resources

Despite tech-driven advancements in the banking sector, their most significant asset conventionally remains the ‘Human Resource’. Face Recognition & Biometric devices for time and attendance systems allow for optimum utilization of the bank’s personnel. This digital means of recording, maintaining, and reporting attendance saves valuable time and accords for effective control over the activities of the employees across branches in real-time.

Another such nuance of Face Recognition & Biometric technology that aids the financial institutions is smart visitor management systems that comprise features such as pre-registration of visits, badge-based demarcation, security alerts/OTP, tracking of activities, recording of information, warning about black-listed visitors, and integration with other security and administrative systems in place. Allowing visitors the right access to the right facilities reduces confusion and waste of time, besides making the customer feel independent and happy about his/her banking experience.

Perquisites of Face Recognition & Biometric Technology in Banking

It is important to understand that when it comes to implementing Face Recognition & Biometric technology for banking, it’s all about balancing convenience and security.

Besides offering potent security, access control systems for financial institutions propound two-fold advantages that provide an edge over the rest in the industry. Firstly, the access control systems, identity management systems, and Attendance terminals (devices) for time and attendance would ensure formidable control over employees, optimum utilization of resources, and an economic scale of operation, thus, aiding the financial institution in accomplishing their work goals. Secondly, the acquired efficacy in the operations can enhance their customer satisfaction, thereby, accentuating their goodwill in the industry.

To list out, the merits of biometrics and its affiliated solutions for the banking sector are mentioned below:

  • Time and Attendance systems are devised to procure plausible control over employees’ activities across different branches of the bank/financial institution. This empowers authorities to instill virtues of discipline and dedication amongst personnel and gain their maximum potential, all the while protecting them as well as the facility from unwanted outsiders.
  • Digitized Identity Management Solutions and Visitor management Systems account for sound security measures and safeguard the financial institutions from insider frauds and malicious threats of embezzlement, or the divulgence of invaluable assets and information.
  • An intelligent Visitor Management System can assure a secured and satisfactory visit experience across different branches of financial institutions. The system ensures access only to authorized identities, thereby, rendering water-tight security.
  • Such promising security solutions provide the much-needed assurance to the banks’ customers and consolidate the firms’ reputation. The improved efficiency allows banking and financial institutions to provide top-notch customer services, thereby increasing their retention rate.

Banking & Financial Sector to Reach New Heights with Access Control Systems

Face Recognition & Biometric devices

All the technological advancements and digitization in the sphere of banking and finance till now has had the potential to serve only one or two of the many stakeholders. Moreover, the meaning and extent of access control were limited to manufacturers concentrating only on providing systems to secure access while also managing access privileges and cards.

However, the newer, more advanced access control systems for financial institutions are commonly paired with state-of-the-art biometric technology. These systems are significantly prepared to serve all the stakeholders of the institutions by streamlining and easing the flow of work for employees, safeguarding financial assets and data of customers, enabling effective administration across different branches, providing cost-effective methods of utilizing resources to cut expenses, and increasing the reputation and stature of the industry among customers.

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How a Visitor Management Software Can Revolutionize Your Business

What is a Visitor Management System?

A visitor management software solution can help a company to resourcefully handle the processes of registering and guiding visitors in their premises. This tool can help businesses to save the costs of hiring specific employees for the purpose. In this article, we provide you details about what a visitor management platform can do and the advantages it can provide to your organization. To start, a visitor management application can assist in performing the following tasks:

  • Helps in signing in and checking out the visitors. In most cases, a check-in app is used.
  • Collects visitors’ details, including name, contact info, company, and purpose of visit.
  • Knows which staff member is the host for the visitor.
  • Informs the host worker about the visitor’s arrival.
  • Prints badges for the visitor.
  • Tracks all details in a cloud-hosted visitor log book.

Benefits of Visitor Management Software

1. Swifter Registration Process

With a visitor management system, guests don’t have to manually enter their details in a log book. They can simply use a scannable ID or invite code to check in. This makes the registration process quicker and helps to avoid lengthy queues in the lobby or reception.

2. Proper Identification

Your firm needs to ensure only verified visitors are seen in your building or office premises. visitor management solutions help to achieve this as they can provide temporary badges to guests that have their photographs. Thus, the program can help to boost security and safety in your premises.

3. Greater Accuracy

Visitor management is made more precise by this application. It involves the logging of guest information in predefined data fields or scanning of IDs, which helps to make the system more accurate and simpler to manage compared to a manual guest log book.

4. Guests Need not Wait

Visitor management software is a boon for guests also as they don’t have to wait for their host after arriving at your facility. If a visitor is not able to find their host, they can forward a message to them via the application. This message is transmitted in real time to the host who can come and receive the visitor.

5. Decrease Costs

Industry reports indicate that receptionists’ salary in the UAE is about Aed 5,300 on average. visitor management solutions help to save this money which can be used for more important purposes.

6. Enhanced Security

This type of software helps to make your visitor management processes more secure as you can track all the guests entering your building premises. The platform can correctly assess which visitors are in the facility and who they wish to meet. Plus, the system can prevent the admission of unauthorized visitors. It can analyze visitor data to keep your premises safe and also ensure that guests don’t enter restricted areas. The application can also raise an alarm if a person of interest arrives at your facility so your security guards can take immediate action and prevent their entry.

7. Showcase Your Professionalism

Visitor management software can help your organization to portray a professional image to impress your clients and give them confidence in your enterprise’s capabilities. It can generate an upbeat impression on your customers as they’ll realize that your business has the ability to competently manage its security aspects.

8. Boosts Productivity

A visitor management system can help your company to improve staff productivity as the application can be used to manage and track visitors which will free up time for your staff to focus on important functions. If your enterprise has multiple branches, you can use a platform that centralizes all information in the cloud and makes it available to all locations.

Conclusion:

As this article shows, visitor management solutions can assist to revolutionize your business as they can ensure security and protect your staff competently. These systems offer robust technology and powerful features to automate the check-in procedure. Plus, they can effortlessly scale with your company’s growth and continue to deliver great value over the long term. This makes the software a much more efficient and cost-effective alternative compared to paper-based guest management.

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How various Features of Visitor Management System boost Security?

A successful businessman has lots of things going on in his mind. He has to supervise all the administration and management tasks besides having team leaders and supervisors for it. Another important aspect that he has to worry about is the safety of his staff and office. It is very critical that the owner takes the security of the office and staff very seriously.

If you are the owner of an office or school, it is crucial that you take different measures to improve security on the premises of the building. You install CCTVs, hire security officers, and have guard dogs but still at many times when accidents happen no matter what you do. So how can you eliminate the threat even more? There is a new system that has been introduced called the Visitor Management System. Not many have used it but still, it has a very positive response.

Visitor Management System made clear:

This is a highly sophisticated system used to manage the information that is gathered when guests visit any building. This is used to track the movements of staff and visitors to decrease the increasing risk of security threats. As soon as you check into the system, your info is sent to the server and then it can track your whereabouts.

Ways to Use the System:

Several companies around the world have developed various ways to improve the working efficiency of this system. In the beginning, a computerized system was adapted to make it work. As technology advanced many different techniques were introduced to perfect the system.

  1. The facial recognition technology was first seen in laptops to increase the level of security. But now many staffing companies in Dubai are using this for their employees. A computerized camera takes your photo and saves it. Afterward, you can log in to any device or enter the attendance log.
  2. The visitors who rarely visit the office or schools can use the instant badge printer. A visitor without wearing a badge creates suspicions. So it becomes easy to have access to a badge immediately.
  3. The company may also develop software and apps for this purpose. You can simply download the app; connect to it and when you come to the job just sign in using the software.
  4. The badge that you are wearing can also be used to enhance the system. You can scan the employee badge and the device will recognize you as either a visitor or staff member.

Advantages of Visitor Management System:

A large number of companies are not using this visitor management system. Either they are still not aware of it or clearly, they are avoiding it because it is expensive. There can be many reasons for it but only wise and intelligent people will consider it’s usage as it has several advantages. Different companies provide solutions for this system but Unique Soft has the best quality services.

  1. When you register a visitor normally, there is a large register book to write in. This can increase the budget by a large amount as many companies purchase books on a weekly The automated or computerized system can save money as well as the time spent on manual registration.
  2. When the employees are under constant supervision then they will work hard and honestly. The employees cannot escape the cameras, scanners, and other software that are round the clock watching your work.
  3. Each and every person who enters or exits the building is being monitored and registered by the visitor management system. So any unwanted person will be automatically spotted and reported to the security for further action.
  4. This also helps in the coordination of various departments. The team members of different divisions can track and harmonize their work.

Best Features for Security:

The different staffing companies in Dubai have installed this system not only to register the visitors but also to enhance the security at every cost. It is crucial because there are many safety threats from the outside world. So the features that are the best for the protection of the staff and building are;

  1. When your office or school has visitors who not have booked any prior appointment, the system will recognize them and alert the security. It may also happen that many of the people are ex-employees but the management deletes their data.
  2. All the information on the guests or employees can be gathered in an instant. The data is previously saved in the database from where it is automatically sent to the concerned departments for further examination.
  3. The employees, as well as the employer, can look at the daily reports of the staff and the guests that are visiting the building. The overall performance and attendance of the staff can be monitored for any electronic device.
  4. The clients can register an appointment days before. This will help in saving the time of calling or visiting the office. It is hassle-free as you can book an appointment or meeting from practically anywhere.
  5. At times when there is a security threat, the majority of the accomplices are either the current staff working there or any previous one. So this system helps to keep an eye on the whereabouts of staff members and visitors so ant threats can be eliminated.

As you can see that it is reasonable to have the sophisticated Visitor Management System, security being one of them. So it is wise on the part of the owner to have this system for better management.

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