Process optimisation and high cost-savings potential

The banking industry is still in a state of transition: conventional mechanical key locks are only gradually being upgraded to electronic, networkable locks. This applies to vault doors, ATMs, recyclers or safes as well as the securing of cash stocks and the safekeeping of documents.

In this field the loss of keys is extremely costly, as it usually involves replacing the lock. For this reason alone, electronic locks offer greater security and lower costs. An even greater advantage can be seen in the mapping of the most important processes in a networked security system that can be configured remotely.

Although the processes at different banks are generally similar, in detail they require individual approaches. This is where the flexibility of INSYS locks pays off: customer-specific solutions which take all relevant requirements into account are part of our core business.

In order to guarantee the security of the applications in question, INSYS locks occasionally conducts penetration tests together with partners. This ensures that there are no undiscovered vulnerabilities to external attacks.

The advantage of networked locks

One of the most important functions here is user management. If an employee leaves, his or her access rights have to be blocked or the user has to be deleted. In the case of electronic locks, it is sufficient to modify the configuration. If, however, there is no networking the changes need to be made locally, which results in unnecessarily high personnel costs if – as is often the case – an employee from head office has to travel to the local branch.

A further benefit is that processes in the branches can be aligned. This greatly simplifies and centralises the configuration processes involved. If centralisation is not required, it is also possible to adapt processes and templates to the requirements of individual branches.

A networked solution also makes it possible to monitor locks more closely so that errors or omissions – such as an open door at an ATM or safe – can be detected and rectified more quickly.

Experience has shown that the changeover can also be carried out step by step: first the mechanical locks are exchanged for electronic ones in order to gain initial experience. This is followed by networking and the associated fundamental implementation of internal processes.

Cooperation with external service providers

A second significant development is the outsourcing of cash management to cash-in-transit (CIT) providers. In the case of key locks, banks can neither prevent nor control the possible misuse of the keys that have been handed over.

When electronic locks are applied the processes involved are very different. Here, one-time codes (OTCs) can ensure that access is actually only possible to complete the specific assignment.

Limiting the validity of the code to a narrow time window adapted to the planned route and requiring the additional entry of an individual PIN or an acknowledgement code provides the bank with additional security.

Clear and secure processes are indispensable for both sides: both for the bank if it wishes to insure itself against potential losses and for the CIT provider, which is liable to the bank. The evaluation of the transaction logs also makes it possible to monitor the services provided in detail. MultiPad Go!® from INSYS locks offers a solution that can be flexibly adapted to the processes of banks and CIT providers. If the OTC generation remains with the bank, it can change the CIT provider at any time.

These products are frequently used by banks: