Key Control for Banking and Financial Organizations

In the hypercompetitive financial industry, it’s essential to streamline processes, secure assets and minimize liability wherever possible.

Key control solutions help you accomplish all that – and more.

By turning every key into a data point, Morse Watchmans key management systems help you secure, track and manage every key in your facility. By eliminating error-prone manual logs, you can reduce loss and increase operational efficiency.

Protecting physical keys in banks and financial institutions is one of the most basic and important steps you can take – and it’s simple with electronic key management solutions. Each key is attached to a smart fob which is locked into the key cabinet. Only an authorized user with proper credentials is able to remove any given key from the system. All key use is tracked.

There are many keys in use on a daily basis in a bank. These may include keys for cash drawers, safe rooms, offices, service closets and more. All of these keys need to be kept secure. Bank management also needs to maintain an audit trail for every key, with information including who has used the key and when. Any suspicious activity should be flagged, with alerts sent in real time to authorities for immediate response.

A second layer of security can be added to a key control system by placing the cabinet into a fully secured and locked room, with a remote networked access box outside the room. To access the room itself, two employees can be required to present credentials including a pin code and/or biometrics such as a fingerprint. All authorities are provisioned within the key management system.

With the high number of regulatory laws which banks must adhere to, the reporting functions of key control are another significant benefit of these systems. A wide range of different reports can be generated automatically or by request. If you want to know who took out the key to the server closet on the day there was an attempted cyberbreach, there’s a report for that. If you want to know every person who handled that key in the last six months, there’s a report for that too.

By integrating the key control system with your access control and other networked security devices, it is possible to greatly expand the capabilities, data and accountability of your security program. In the wake of an incident, this level of information is invaluable in identifying criminal activity.

Beyond the safety and security of personnel and customers, banks and financial organizations have the responsibility of ensuring the security of the money and the information entrusted to them. Key control can make a significant difference in helping to mitigate threats, limit liability and reduce risk.

 

Design the perfect key control system

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