TycoIS Sets Sights on Financial Services Market
Learn why Tyco Integrated Security has decided to focus its efforts on the financial services market.
One of the reasons TycoIS plans to focus its efforts on the financial services market is change in consumer banking habits. For example, statistics show that more than 50% of deposits are made at ATMs, not a bank branches.
Daniel Schroeder, vice president of sales, North America, for Tyco Integrated Security (TycoIS), provided me rundown of the company’s focused efforts in particular verticals, including financial services.
Regarding the latter market niche, because consumer banking habits have changed so drastically in recent years, security applications are evolving as a result. The company provided some stats that help bear this out. Consider:
- 51% of American adults bank online
- More than 50% of deposits are made at ATMs, not at branches
- 32% of transactions are made with a cell phone
This, in part, is resulting in newer facilities that are being built to about half the size of most traditional bank branches. Concurrently, fewer employees with increased responsibilities are staffing these smaller local offices. The branches may have a smaller footprint, but security applications are expanding, and TycoIS sees this as a significant market opportunity.
To service this market’s unique security needs, for example, the company is leveraging high definition cameras and video analytics to analyze customer wait times and improve situation management, along with new access control measures for ATM vestibules, wireless/keyless entry solutions and more.
About the Author
Rodney Bosch, Senior Editor
Although Bosch’s name is quite familiar to those in the security industry, his previous experience has been in daily newspaper journalism. Prior to joining SECURITY SALES & INTEGRATION in 2006, he spent 15 years with the Los Angeles Times, where he performed a wide assortment of editorial responsibilities, including feature and metro department assignments as well as content producing for latimes.com. Bosch is a graduate of California State University, Fresno with a degree in Mass Communication & Journalism. In 2007, he successfully completed the National Burglar and Fire Alarm Association’s National Training School coursework to become a Certified Level I Alarm Technician.
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