Financial community responds to heightened threats
May 2003, News
The UK's leading financial institutions are increasing their spend on security in a bid to quash heightened concerns about disasters, terrorist attack, employee negligence and IT security breaches. However, nearly 40% of security managers working in the sector still do not consider their organisations' disaster recovery plans to be 100% foolproof.
These were just two of the conclusions drawn from recent research into the financial community's attitude to, and deployment of, security by Reliance Security Services. The survey, conducted in February, discovered that nearly 50% of the financial community see disasters (48%) and terrorist attacks (41%) as 'extremely important' threats (the highest possible level of concern) to their business.
In order to deal with these threats, they are deploying a mixture of manned security services (100% of the sample), access control (96%) and electronic security (85%). Over the last year, they have increased spending in all three areas - CCTV technology (67% of the sample), access control (52%) and manned security (30%).
"What we are seeing is banks and other financial institutions reacting to a variety of both national and international factors including, of course, the current political climate and the events of 11 September," said Geoff Shewry, managing director of Reliance Security Services. "While the survey indicates that a large proportion of financial organisations are now placing a greater emphasis on electronic solutions (56%), their spending on manned security services is also on the up. This emphasises the fact that the manned security sector has a very vital role to play in the general movement towards total, integrated security solutions."
The survey revealed that there was a continued demand for manned security services, with quality of service considered vital, and regulation welcomed as a step towards achieving this.
Despite indicating an increased movement towards electronic solutions, the survey revealed that nearly 60% of financial organisations would not consider using security technology to reduce their dependence on manned security at night. The main reason for this is that security officers are responsible for controlling access outside of normal working hours (33% of respondents). The survey also found that security officers are becoming indispensable by fulfilling a much wider range of roles including reception duties (70%), electronic surveillance (41%), building management (37%) and access control (52%).
Another interesting trend is the huge extent to which financial organisations value the quality of security personnel. 67% of respondents consider the calibre of an organisation's security officers as 'extremely important' when selecting a supplier. Service levels (56%), customer empathy (31%) and health and safety training (26%) were also singled out as 'extremely important', outweighing price (only 22% of the sample said this was 'extremely important'). 96% of the sample also agreed that their security officers are fully trained in how to react in the event of a disaster/terrorist attack. Not surprisingly, 81% of those surveyed also said they are in favour of regulation of the manned security sector, suggesting that they see this as a big step towards raising standards within the security industry for both customers and security employees alike.
- From the editor's desk: Open season on IP surveillance
April 2017, Technews Publishing, News
Who would have guessed that IP surveillance equipment would become such a player in the cybersecurity world? Never mind the Mirai botnet that made use of some sloppy coding from a Chinese manufacturer ...
- 2-for-1 deal
April 2017, Technews Publishing, News
Not only are you getting the April 2017 issue of Hi-Tech Security Solutions delivered to your doorstep, but this month we are sending you the CCTV Handbook 2017 as well. How lucky can you be, you get ...
- AWM360 acquired by dormakaba
April 2017, AWM360 Data Systems, News, Access Control & Identity Management
AWM360 Data Systems was acquired by dormakaba South Africa as of 1 March, 2017.
- Jasco in multi-million rand acquisition
April 2017, News, Fire & Safety
Jasco breaks into new areas of fire solutions with R52.3 million acquisition.
- Three brands for Forbatt SA
April 2017, News, CCTV, Surveillance & Remote Monitoring
Forbatt SA introduced its new portfolio of surveillance brands to the market at upmarket events in March.
- Vox launches Gate Guard
April 2017, Vox Telecom, News, Access Control & Identity Management
Vox has launched Gate Guard, a self-contained access control security solution that allows companies to remotely monitor and manage after-hours access to their premises.
- Protect your lifeblood
April 2017, News, Cyber Security, Security Services & Risk Management
Data has become so valuable that there are hacking syndicates and lone-wolf hackers who do nothing else but try to steal it.
- Fidelity ADT aims for growth
April 2017, News, Security Services & Risk Management
Fidelity Security Group, has announced the financial conclusion of its acquisition of ADT South Africa from Tyco for R2 billion.
- UTC South African road show
April 2017, UTC Fire & Security, News, CCTV, Surveillance & Remote Monitoring, Products
UTC demonstrated its fire, intrusion and access control products and integration capabilities during its South African road show.
- Rob Anderson and Associates becomes Adamastor
April 2017, News
After 20 years of trading, Rob Anderson and Associates has decided to rebrand as Adamastor Consulting.
- Regal sponsors CCTV and networking for VulPro
April 2017, Regal Distributors SA, This Week's Editor's Pick, CCTV, Surveillance & Remote Monitoring, News
Regal sponsors CCTV and networking equipment to assist with vulture conservation and rehabilitation facilities.
- Suprema unveils BioSign 2.0 and SFM6000 Series
April 2017, Suprema, This Week's Editor's Pick, Asset Management, EAS, RFID, News
Suprema recently unveiled the new BioSign 2.0 algorithm its new SFM6000 Series fingerprint embedded modules.