2 minute read
By Matt Tengwall
Posted in Customer Engagement
At Verint, we’re uniquely committed to help solve fraud and security problems for our bank and credit union customers. Our commitment takes many forms, one being we have built a business around solutions and services to solely address our market focus.
Because of our dedication to the financial security industry, Verint is constantly developing innovations and has a team of devoted employees working toward solving problems specifically for this market.
Our expertise is comprised of a rich history and evolving knowledge of our customers’ business, strategies, technology standards, and matters pertaining to risk management and operational compliance.
Over the past few years Verint has focused on the Internet of Things (IoT), data, and analytics to mitigate the increasing threat of fraud and cyber risks within organizations. Our perspective is end-to-end solutions are unavoidably important, and we see customers falling prey to component-based approaches that can introduce new risks.
A major security breach attributed to unforeseen risk impacts operational cost and productivity; yet it can also affect customers’ perception of the brand. Therefore, as customer experience is central to growth, we see a growing common thread that will rise above all in the coming years: collaboration.
When broken down in terms of its relevance for banks and credit unions, we can expect to see collaboration in two major areas in the future:
Security and Customer Engagement
It’s a simple fact: Financial institutions can’t drive exceptional customer service without security having a seat at the table. These two elements impact each other in more ways than one, and it will be critically important for banks and credit unions to implement informed and intelligent customer engagement strategies that incorporate both safety and service moving forward.
As we start to see the physical layouts of branches evolve to become more productive for customer engagement, it’s important to consider security in these changes. For example, Bank of America has turned many branches into a “café” setting. Other bank environments are also transitioning to focus more on additional benefits offered to customers. This could introduce a variety of risks when it comes to employee and asset protection, making it paramount for security to react to this adjustment accordingly from a safety and fraud perspective.
Physical Security and IT
Though this type of convergence has already begun to take place, the integration of physical and IT security will only become more critical in the years ahead. The use of advanced networked and cloud-based technologies in financial institutions has led to IT’s increased involvement in security decisions and operations. This is the right path to follow if a bank or credit union wants to ensure its solutions are protected against cyber threats.
The collaboration between physical and IT security teams must exist at every level of the process; from procurement to installation to maintenance over time, it’s crucial that IT employees are asking the right questions. We’re already starting to see physical security groups rely on IT professionals to help them solve problems when it comes to the technical and cyber sides of security solutions—this will become more commonplace going forward.
Whether it’s due to the evolving risk landscape financial institutions face or the desire to meet customer demands, collaboration will clearly be the key to success for banks and credit unions in the future. A modernized customer engagement strategy must incorporate a focus on security, and that element of security must be comprised of both physical and IT components.
Learn more about how Verint can help your organization put collaboration at the heart of your security and business operations.
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