Asset Tracking for the Financial Services Industry

The financial services industry is highly vulnerable to losses due to the large number of high value assets they manage and transport on a daily basis.  GPSit’s advanced tracking services with sensor data detection can help minimize those losses and aid in loss recovery.

On a daily basis, financial institutions:

• Expose large sums of cash to theft in remotely located Automated Teller Machines (ATMs)
• Transport cash, financial data and other valuables in Bank Bags
• Entrust valuable shipments to third party shippers and armored transport services
• Become robbery targets at their branches.

Banks can reduce these risks by taking preventative measures and actively tracking their high value remote or in transit assets.  This both helps stem losses and aids in theft recovery.

Financial Services Asset Tracking

Here are examples of how financial institutions can achieve better risk protection for their remote and in transit assets:

Bank Bags – by inclusion of small GPS trackers with advanced sensor detection, banks can now determine location and status of Bank Bags in transit.  Sensors detect bag opening, movement and temperature change, enabling advanced early warning of security concerns.

ATMs – GPS trackers, incorporated into the ATM housing, enable detection of vibration which may indicate vandalism in process, detection of light indicating the unit has been opened and movement indicating the device has been stolen.  These early warning detections enable fast notification of law enforcement and aide in recovery.

Goods in Transit – GPS trackers, embedded into the high value goods in transit, allow for real-time monitoring of the shipment status.  This allows for asset tracking even if the transportation carrier is not GPS equipped.

These are just a few of the many ways that asset tracking, when combined with advanced sensor detection, can help financial institutions better manage their risk protection.

Financial Services Benefits

• Minimize the risk of money being stolen.
• Increase the probability of recover
• Streamline tracking and monitoring of remote assets
• Gain better visibility to the status of assets in transit
• Address financial services compliance requirements
• Reduce labor associated with monitoring assets

Financial Services Asset Tracking Solution

GPSit’s solution enables financial institutions to easily address security monitoring and tracking requirements.  Wireless, battery operated trackers with advanced GPS and sensor capabilities such as our PT300, combined with TrackFusion, our 24/7 web based monitoring, alerting and notification platform form the basis of our financial solution.

Here are the most frequently used TrackFusion features by financial service organizations: