Changing Scenario: Security Services in India

Digital displays changed the approach of modern man towards time and especially towards wrist watches. Hitherto, time was seen but suddenly time was being read with digital watches. So, analog watches were replaced by digital watches even when for a short time. Since the need for analog watches remained and technology transition took time, a new genre of watches, called “Digi-ana” (Digital and Analog) was brought to the market.

Similar technology driven changes were made in banking industry which greatly facilitated customers and also impacted security concerns. ATMs changed the ways banking is done! Since banks wanted to cut operational costs, they also wanted less and less customers coming to their branches for mundane banking activities such as cash withdrawal, balance inquiry or pass-book updates. ATMs were answer to all such needs and were found to be convenient, efficient and low cost. As Customers liked it, banks eagerly multiplied the number of ATM’s. Initially different group of credit cards were present, soon debit cards also joined the hustle-and-bustle and soon majority of ATM’s started accepting all leading brands of credits cards and debit cards of all leading banks. At this stage since foot falls per ATM increased, increased need of cash in ATM caused security concerns. The licensing authorities, regulators and police demanded effective security measures for ATMs, causing increased administration costs. Thus ‘banking-away-from banks’ became expensive propositions considering 24x7 operation and security needs.

It is well studied forecast of changing trends in ATM operations that soon ATMs will remain just ATM without carrying name of any bank. All the transactions using credit / debit cards will carry transaction fees and operation and maintenance will be by some specialized agency other than the banks. Thus ATM operations will cater to varied needs of the customers and also incorporate directives of the regulator, licensor and the police. It is further envisaged that soon in India every citizen will have only one bank account against the present freedom of holding multiple accounts in multiple banks. This migration to ‘regulated bank account regime’ will go long way for effective e-governance and reducing black money as well as reducing tax thefts.

In this emerging scenario; changing trends in security management will develop. Two major trends are foreseen-

• Central Command & Control Center
• ATM Management Services.

There have been pioneering services started by few leading companies in Metro cities where under command and control center have been established by them with the trained manpower and sufficient resources with Quick Response Teams, to take care of specific need of clients. The clients’ CCTV and other alarm system are maintained and monitored, notifying the pre-identified authorities, mobilizing the resources to mitigate the alarm situation and prepare post-event reports. Since this area of specialized service has just opened-up, there are not very many players and standards are non-existent.

So far as ATM Management Services are concerned, the direction and decision of the Government will decide the shape this segment is to take. Early indications are that Central Government is seriously thinking of providing a bank account to every citizen of India linked with Aadhar and or National Citizenship Card. The citizen will have a choice for selecting a bank. Electronic transactions will be favored or rather encourage. Instead of going to the banks, the customer would be led to ATMs where any type of card from any bank will be acceptable. For each transaction the concerned bank will charge fees from customers, part of which will go to franchisee running / maintaining the ATMs. Thus new service segment will emerge which will offer range of services including congenial and secured environment where customer would prefer to have ATM transaction, cash transportation to feed ATMs security of machines and the facilities and up keep and maintenance of ATMs. All the gamut of services related to ATMs will be preferred to be provides by one services provider.

Thus, it can be seen by above that soon there will be two specialized services sectors emergency in broad area of security management for which niche is already created. Some pioneer work has already been done and industries thought-leaders have already begun the initiation to shape-up this segment further.