Apr 2015 Financial News

NCB invests in enhanced remote surveillance

Apr 10, 2015

On Monday, American company Verint Systems Inc indicated that National Commercial Bank Jamaica Limited (NCB) is nearing completion of a multi-phased security system, which is part of a new comprehensive security plan.

With assets valued at half a trillion dollars, NCB operates Jamaica's largest banking network.

A new video surveillance system, Verint said in a release, has been installed at NCB's ATM sites and branches to monitor all public areas, including entrances, exits and parking lots, as well as cash-handling areas. It was noted that operations incorporating 36 branches and 200 ATMs will also see operational efficiencies as a result.

The bank is also using Verint IP cameras at its branch entrances and the head of its teller lines, said Verint, and is using Verint's network video recorders and video encoders to capture high-quality video.

Verint said NCB has been using its software to view live and recorded video from their desktops to "make real-time security decisions.

"The bank also deployed the Verint EdgeVMS Op-Center diagnostic and management application, enabling NCB of Jamaica to manage DVR properties, passwords, and firmware, to help deliver superior system uptime, enhanced management control, and improved operational uniformity," Verint said.

The technology firm indicates that it was selected by NCB in 2013 to focus on mitigating fraud, enhancing investigations and "applying advanced situational awareness across its countrywide locations."

The bank has not responded to requests for comment. Its 2014 annual report makes no mention of either the Verint contract or a broader security programme, but otherwise made a passing reference to a cybersecurity project. NCB said it began to design and initiate implementation of a "robust security architecture to enhance the group's ability to respond to global security threats".

The bank also reported that it spent substantially more on computer software in 2014, some $1.03 billion, compared to $670 million in 2013.

Source:
Avia Collinder
avia.collinder@gleanerjm.com
Jamaica Gleaner
Friday April 10, 2015

http://jamaica-gleaner.com/article/business/20150410/ncb-invests-enhanced-remote-surveillance