|ABA BANK CAPTURE Year-old service provides crime data and analytics|
Last year, ABA, in conjunction with Cap Index and ISO Crime Analytics, launched a secure web portal where crime data for bank robberies, burglaries, and ATM crimes-reported by subscribing banks-are collected and analyzed, then made available to participants. Called ABA Bank Capture, the nationwide program aggregates data in real-time, allowing banks to access information on incidents as they are reported.
ABA Banking Journal Tech Topics spoke about the service with Basia Pietrawska, vice-president, research and analysis, and Stephen Longo, vice-president, business development at Cap Index Inc., as well as Doug Johnson, vice-president of risk management policy at ABA. The following is a recounting of their collective responses.
Bankers leverage the system's data to benchmark their own bank's experience, detect patterns in criminal activity, and enhance their response strategies. Participants often are better prepared to train staff for future events, to more accurately allocate security resources, to protect customers and employees, to strengthen communication with local law enforcement, and to reduce liability exposure for robbery, burglary, ATM crime, and bank fraud.
Currently, there are 30 major banks participating in the ABA Bank Capture system. Those institutions provide data representing more than 45,000 bank branch locations. That database provides valuable trend and pattern insights on national, regional, and local levels.
The program was developed in partnership with the FBI, in an initiative led by the ABA, an advisory board of its member bankers, and law enforcement agencies. The technology platform behind the system is provided and supported by ISO Crime Analytics, a unit of Verisk Analytics. CAP Index Inc. provides data analytics and quarterly industry reports to ABA Bank Capture subscribers. The analytics and reports highlight crime patterns, reflect the use of specific security measures, and provide ways for banks to strengthen relationships with law enforcement agencies. CAP Index does extensive quality control to ensure statistically reliable and valid assessments.
They include both time-related trends (e.g., bank robbery patterns by day of week or time of day), and geogprahic trends (e.g., robberies by region or Metropolitan Statistical Area). This makes it possible for participating banks to apply both reactive and proactive measures to protect their customers, employees and brand reputations. CAP Index's advanced data analyses provide ABA Bank Capture users with practical tools that help them to identify relevant crime patterns and trends in their area, stay up to date on recent criminal activity, communicate and collaborate with other bankers and law enforcement, and make informed decisions regarding security measures.
Although there are several community and mid-size banks that participate in the ABA Bank Capture system, they are currently underrepresented. We believe it is important to greatly increase community bank participation to enable such banks to apply and benefit from the same crime-related information that is used by larger banks. Participation in the system is attractively priced for community and mid-size banks [covered below].
In terms of security resource allocation, banks have saved significant amounts of money by leveraging information that enables them to determine where specific measures should be increased or reduced. Some participating banks use the information for selection of sites for new branch locations. There are many examples of banks that have applied trend data and worked with local authorities to thwart or capture criminals. The information has also been applied successfully by banks to defend themselves in litigation involving premises liability. More broadly, for many banks, the ABA Bank Capture information serves as the cornerstone of an integrated loss prevention strategy.
In premises security litigation, one of the most effective defense strategies is to demonstrate that the bank took reasonable precautions to mitigate and defend itself against criminal activity, which in turn reduces the likelihood that customers or employees will be harmed on the premises. In addition to the practical benefits a bank receives from the ABA Bank Capture system, participation also serves as a type of insurance policy, in that it may demonstrate to a jury, and in the court of public opinion, the bank's seriousness of purpose in protecting people from harm.
ABA member institutions in good standing can begin the process by requesting a subscriber information packet which contains the order form, facts about ABA Bank Capture and the subscription agreement. Annual fees are based on size, starting as low as $500 for a bank with fewer than 250 locations. The system is designed to make collection of data from banks simple, and ISO Crime Analytics support specialists can help new members with entering data into the system, training employees, and providing ongoing system support. Banks interested in learning more should go to http://www.ababankcapture.com/
[This article was posted on August 21, 2012, on the website of ABA Banking Journal, www.ababj.com.]
| TechTopics Plus