Zicom is one of the pioneers of the concept of SaaS and introduced a new business model called Zicom SaaS by leveraging the IoT space. Zicom Security-as-a-Service (SaaS) solution provides comprehensive security services on a monthly subscription basis without any ‘capital investment and management’ for the customers using the power of cloud.
Historically banks spend an average of INR 30,000 to 40,000 per month on their ATM security towards ‘manpower security expenses,’ plus the CCTV equipment installed in the ATM which record the crime but never prevent it.
India Infoline Ltd. (IIFL), a conglomerate of financial services company that offers loans against gold ornaments, relied on standalone closed-circuit TVs (CCTVs) and security guards to protect their branches. Many ATMs of Federal Bank Ltd. did not have even security guards.
Zicom offered banks their SaaS to customize the e-surveillance system and use IOT to have twoway conversations – from one central hub to any ATM across the country. For the first time ever, CCTV cameras pro-actively prevented a crime instead of only recording.
The Zicom ATM surveillance system uses internet to connect sensors installed at ATMs by which they are able to track each ATM, and connect it to the national command centre to monitor every activity taking place in real time, 24 hours and 365 days of the year. Unlike any other, Zicom command centre works towards preventing crime and getting into the rescue operation when required with features such as two-way communication at an ATM, panic button to raise an alarm, and quick response service (QRS) mechanism to inform the police about a crime taking place.
This strong fullproof mechanism for the e-surveillance system has made the entire security process simpler, and as a result banks can completely rely on it. SaaS helped re duce man power as well. Earlier banks were spending Rs. 40,000 monthly on security, ATM Surveillance under IoT by Zicom brought the cost down to Rs. 4000 a month which is 90% reduction at each ATM.
Zicom has now created a security model for the bank that also helps in conserving energy with the help of remote monitoring. It has helped Federal Bank save about Rs. 7,000-8,000 per month on each ATM.
- Venu, Chief Administrative Officer of IIFL says that since Zicom partnered with IIFL the company is able to monitor any branch across the conglomerate’s large network from their office in Mumbai. He further adds that this has improved the productivity and efficiency of his auditors and vigilance team.
Zicom Electronic Security Systems today covers over 5500 ATMs, and various banks across country such as ICICI, Indian Bank, Ratnakar Bank, HSBC, Punjab National Bank, Vijaya Bank, State Bank etc.