Honeywell Security and Fire EMEA Channel Marketing Leader, James Somerville-Smith, comments on the changing face of retail banking, the future of the UK high streets and why video analytics could play a crucial role in securing both the banks of the future, while helping bricks and mortar retailers move with the times.
“While brighter, modern, more dynamic banks are much more welcoming and enticing for an increasing number of prospective customers, they also present challenges for the security team.”
“In many organisations, the location of security cameras and alarm setting procedures haven’t changed for years, even decades.”
“Invest in higher-specification cameras in order to better pinpoint the perpetrators of theft”
The UK banking sector is changing. A recent report by PricewaterhouseCoopers (PwC) revealed that more than half of us are using more than one bank, including so-called ‘challenger’ banks that may not even have a high street presence. This result may have sent a chill down the spines of retail banks everywhere, which are used to being their one-stop shop for loyal customers. However, it’s not the end for the high street. The study also revealed that the availability of bank branches is still a crucial concern for consumers – with 68 per cent believing a branch was essential when opening a new current account, compared to just 25 per cent who favoured a mobile app. It begs the question, how can retail banks leverage their bricks and mortar presence effectively to deliver a competitive advantage?