Get Global Integrations for Smarter Scalability in Banking

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3 Benefits of Traka’s Integrations for Retail Banking

What does it mean to have smarter scalability in banking for key and asset management? At Traka, we believe it means making it easier to grow your business from the local to the regional, nationwide and worldwide level. That’s why we develop global integrations for our clients in retail banking by managing their keys and assets within a comprehensive security infrastructure.

No matter which branch you open, you want your retail banks to have the same streamlined security measures in place. You also want (and need) transparency over every branch’s operations to ensure the whole company is running effectively.

1)       Keep Your Bank Universally Compliant & Secure

All retail banks are concerned with compliance regulation, and for good reason—doing so helps to keep your banks safe and secure. However, constant regulation changes can be a struggle to adapt to nationwide.

How does Traka help improve your security and compliance? By controlling access to high-value assets and areas with full 24/7 tracking and reporting through our integrated software. In other words, you can automatically track who had access to which keys and assets at what time. Traka accomplishes this by integrating our software with your existing systems (such as HR, access control, and other third-party platforms) and with our various custom solutions, including our intelligent key cabinets.

Traka’s integrations also allow administrators to limit users’ access to sensitive keys and assets within a certain timeframe. Any changes made to user access are instantaneous, so there are no waiting periods where your keys or assets are vulnerable. You can even block users from leaving your facility until sensitive keys are returned. There are endless possibilities with Traka.

Digital passwords can get forgotten or, if written down, can be stolen or hacked. Since Traka uses physical iFobs for key management instead of digital keys, you have stronger cybersecurity, which is a growing focus of bank compliance regulation.

By proactively managing risk and regulation across all branches, we reduce your vulnerability to cybersecurity threats and protect banks from financial penalties or damaged reputation.

2)       Simplify Your Business & Operation Models

Between safe deposit box keys, vault combination keys, teller work station keys, ATM keys and more, there’s a lot of keys to juggle in a bank. Losing track of your keys can lead to expensive rekeying, but even when manual key management goes “perfectly,” it takes a lot of time and resources to account for who has what key and when. This adds up to incremental costs over time, cutting into your bottom line.

Instead of losing time and resources by having your employees accompanied on each visit to the vault, Traka’s 24/7 audit trails remove the need for constant administrative overhead in your operations. You can set up automated alerts to let administrators know about important events, too, such as if a key hasn’t been returned by end-of-day.

If you’re overseeing a large nationwide bank, our integrated management solution doesn’t just allow you to do this on a location by location basis, either. It’s possible to connect all locations through Traka’s integrated solutions to allow each branch to have the same process of streamlined administration and to create total visibility over global operations.

With complete transparency over operations and increased accountability measures in place, this capability gives our larger retail banks peace of mind as they grow worldwide.

3)       Higher Revenue Opportunities

Our last point is that global integrations give higher revenue to your bank as a whole. Most Traka customers see the ROI in just six months! If you consider the first two points, however, it’s unsurprising to see that banks can get a higher return on investment through our comprehensive security infrastructure.

Proactively managing risk with Traka reduces the high costs that come with security breaches, reputation management and non-compliance with bank regulation. These costs can be staggering; since 2008, over $321 billion USD has been spent by banks on settlements, enforcement actions and fines.

By streamlining operations with Traka, your staff and personnel not only spend less time on routine administrative tasks but also have quicker start-up shifts due to constantly knowing where their keys and assets are located at all times. For managers alone, this reduction in administration can help save them as much as 15 hours a week.

Finally, the less time you have to spend worrying about your key and asset management, the more time you have for generating revenue. Slow administrative processes can delay higher level work and waste your resources, which is an inconvenience in one location but becomes a substantial loss across several hundred branches. With Traka, you can stop letting the small losses add up.

As your bank scales nationwide and globally, Traka’s goal is to provide solutions that grow with you. Fill out our calculator below, and see how Traka’s key and asset management solutions can give you ROI.

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