Case Study: Developing New Technology to Combat Today’s Security Challenges
Bank robbers – the term may bring to mind rough-and-tumble men with bandanas tied to hide their faces rushing into a small building with old-fashioned revolvers spinning around their fingers. However, today’s banks are a far cry from those one-room structures built along dusty roads, and the criminals who seek to steal from those banks have likewise advanced their technology.
These days, one of the most common ways to rob a bank – and its customers – is through ATM fraud. And recently, one of our clients was dealing with this exact dilemma.
A few months ago, a customer called us to describe their predicament. Someone had come to one of their branches with the duplicated cards and PIN numbers they had bought on the dark web. In a matter of minutes, the criminals had hit all 6 ATMs at the branch and stolen $60,000.
This kind of ATM fraud presents difficulties on many levels. The industry hasn’t come up with a solution to combat duplicated cards, and the question of who is responsible for the lost funds is imprecise at best. It’s a big deal to attempt to retrieve that stolen money, and even after much time and effort, a financial institution may not be able to recoup their losses. Our customer wanted to know – was there anything we could do to attack this problem from the front end and avoid similar situations?
As always, we began our relationship with this client by sitting down for a consultation. We listened to their concerns, we learned about their business, we located their pain points and internalized their dreams for the future of their bank. Then, we turned our attention to our one-of-a-kind Security Connect research and development lab.
Our engineering team began researching products that already existed, exploring different technologies that STS Group leadership had learned about at trade shows. One of those technologies, video analytics, was the place to start. This AI technology is able to monitor security camera footage in real-time, flagging the system and sending an alert when it detects activity occurring within certain parameters that each individual user can set. Building on this idea, our team was able to develop a product for the customer to combat individuals attempting to fraudulently withdraw money from an ATM.
This analytic camera is programmed to prompt an outdoor speaker to play a message if a person has been standing at an ATM for a specified time without doing a certain number of transactions. If video surveillance immediately records the same problem, the machine’s screen automatically shuts off (without shutting down the whole system, which requires a 20 minute reboot) and stays off for 2 minutes after the person has left.
The system sends an email to the bank regarding the incident so that the bank can follow up in a timely manner.
Our customer was hoping for a quick response, and we delivered. Within one month from their original call, our team had developed the equipment, set it up and tested it, and then installed the hardware and software in every branch. Since then, there have been no other incidents of ATM fraud at the bank.
STS Group – Leading the way
It is no coincidence that STS Group is trusted by over 200 financial institutions. Our work with this particular customer is indicative of what all of our customers come to know – that working with STS Group is more than just a business interaction; it’s a compelling experience. We’ve been in the industry for years as it has adapted and changed, and we hold a unique, experienced perspective on its challenges. This experience, which rests on the foundation of our core values, has directly resulted in our designation as the leading provider of bank security and branch automation in the American southeast.
Get in touch today to schedule a no-obligation security consultation and let us show you the difference that STS Group can make for you.