Traka Helps Maximize Profits for Retail Banking /Other/Trakacom/maxresdefault.jpg How does an industry increase profit while struggling to generate revenue? The answer is typically to cut costs. Securing a financial institution and its valuable assets is not an easy task. With a complex facility, dozens of employees, and millions in cash and sensitive assets, it can quickly consume valuable resources and affect your bottom line. Access control is significant in saving time and money, as it's a daily operational task vital to the business. You know how your bank operates – one key for the front door, one to the money vault, one to the small vault, keys for the check deposits, safety deposit boxes, money drawers, maybe even a master key – so who’s keeping track of them all? What happens if a key is lost or taken off site? How many unauthorized users can get their hands on a key? What would it mean for compliance regulation fees and penalties? These are all important questions, and Traka has the answer. Why Traka? Traka is the all-in-one solution that allows you to secure, store and manage your important keys and assets. A fully manual process is hard to manage and time intensive, and there is no way to keep keys accounted for and keep employees 100% accountable. And in a fully digital process, when banks switch to using digital access codes that had to be changed every 3 to 6 months, employees would often keep track of them by writing them down on small pieces of paper, and putting them in their wallets. How's that for digital security? By adding a Traka key cabinet to your facility, Traka can help enhance your business by improving 3 aspects that will help to cut costs, while enabling more time to participate in revenue-generating activities. Reducing Operational Inefficiencies – As far as time is concerned, if you have 8 full-time employees (261 work days), and they each spend 20 minutes per day looking for, or trying to keep track of keys, 87 full working days of productivity are lost for the year. In regards to resources, a study of the operating expenses for 23 retail banks revealed that 19% of expenses went towards repairs, audit fees and security as a result of lack of key and access management. Managing Regulation Compliance – The #1 challenge for banks in the U.S. and Europe is complying with constantly growing and changing regulations, because there are both physical and cyber-related security threats that put banks and customers at risk. Advanced key management will maintain physical access security, streamline operations and provide digital tracking data without opening the door to cyber threats. Improving Security Measures – Each key cabinet requires unique user authentication, giving you control over who has access to certain keys, and when. They also ensure 24/7 key tracking with real-time comprehensive reporting, making sure critical information and areas of your bank are secure. Cut costs by reducing wasteful operational expenses, minimizing downtime that takes away from revenue-generating activities, reducing financial penalties associated with regulation compliance and avoiding cybersecurity threats. This is a more beneficial money-saving strategy than shaving away excess overhead via a cut in personnel, which risks a damaged reputation due to insufficient customer service and/or lack of customer information protection. Ready to unlock your bank’s potential and focus on revenue and growth? Contact us today!