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Some 70 per cent of city and finance businesses who took part in a recent survey intend to invest in IP CCTV, over the next year, according to an installer.
According to a focus group session – held as part of the inaugural Security Technology Experience (STE) – adapting to changing security threats is the biggest driver behind the investment. And while investing in high definition and integrated IP CCTV is a key priority for the sector, largely to enhance forensic security measures, interest in predictive technologies is also high.
The STE saw UK and international banking/finance businesses invited to learn about and see new and emerging security technologies.
Some half (55 per cent) of focus group participants said investment in intelligent video analytics is likely in the next 12 months. Enhancing capabilities such as motion detection, object tracking, object classification and behaviour recognition appealed in terms of addressing changing security threats and also in relation to optimising existing internal data systems.
Improving customer experience through video surveillance biometrics also emerged as a predicted trend. According to the focus group session 45pc are thinking of investing in this type of technology – particularly facial recognition – with 27pc citing enhanced customer experience, from recognising VIP clients to improving staff clearance protocols, as a key driver.
Finally it emerged that 20pc are likely to invest in advanced audio analytics, designed to support video surveillance solutions by integrating sound type and pattern recognition capable of, for example, alerting security teams to escalating noise levels that may indicate a potential threat.
The Security Technology Experience was organised by Quadrant Security Group (QSG). Phil Doyle, Managing Director, pictured, said: “The purpose of this event was to bring strategists and decision makers from the banking and finance sector together with security technology specialists and share knowledge and experience. It also provided an ideal focus group opportunity to get a sense of sector thinking for the months and years ahead.
“Unsurprisingly enhanced surveillance capabilities to address changing and increased security threats came out as a priority. But the fact that interest was also relatively high in terms of data system integration and improved customer experience also showed that the sector is starting to think outside the box in terms of security technology strategy.”
While interest in security technology was high, the session also revealed barriers to investment. Across all types of technology discussed, budget was a barrier for at least 40pc of the group. But the focus group results also suggested a ‘wait and see’ philosophy within the sector, with participants expressing a belief that many emerging security technologies needed more time to prove their value and effectiveness.
Quadrant Security Group (QSG) is a wholly owned subsidiary of UK-based Synectics plc.