Artificial intelligence-driven video analytics makes banking safer

Embedded with artificial intelligence (AI), the video content analytics platforms can now analyze video data that is livestreamed or stored, identify people or objects, and extract them from the raw data and categorize them.

The systems enable segregation of various types of video metadata to make search and analysis easier, faster and more result oriented.

Quite often, one would hear that an ATM was broken into or a branch was robbed at a time when the CCTVs were either not functioning or they were tampered with.

Even in instances where the regular CCTVs are found operational, it is very difficult and cumbersome to identify suspects especially if you are trying to spot someone who skimmed cash from an ATM, etc.

Regular CCTVs often fail to optimize operations or crowd management inside branches. The responsibility of monitoring people on the live stream or reviewing the stored video data later on is left to a specific person usually. This is exactly why banks are now increasingly relying on CCTV-based video analytics solutions for their needs.

Similarly, it might be able to identify harmful objects and activate an alarm to alert the security staff. The potential as well as benefits of AI-driven video content analytics systems are immense for the CCTVs.

Using video content analysis helps banks to observe customer behavior at the branches or ATM machines. The system would generate a heat map of customer activity and analysis of the data can reveal challenges such as counters where the customers are spending more than average time. Advanced CCTV based analytics can identify customer sentiments through facial gesture analysis.

In the new normal, the video analytics system can be configured to raise alerts when there is crowding or if someone flouts the mask adherence rules inside the branch.

While AI video content analytics is not a replacement for human security teams in banks, it has the potential of being a tremendous force multiplier and support system for the bank guards.

The CCTV-based video analytics platform would unfailing and continuously monitor all feed, and raise alerts/alarms about situations or actions whenever needed. Even in the marketing arena, banks can generate insights on how their in-premises promotions and sales teams are performing by using video analytics.

Automated self-service branches and kiosks are witnessing a surge in the post-pandemic arena. Using video analytics technology, such branches can be optimized and secured with ease.

This article has been written by Abhijit Shanbhag, President and CEO, Graymatics