19JANUARY 2024INSIGHTSCXOFINANCIAL SERVICES LEVERAGING TECHNOLOGY TO ENHANCE PHYSICAL SECURITYINSIGHTSCXOBy Mark Brown, Chief Security Officer (CSO), SouthState BankMark BrownA s the virtual world and the physical world continue to merge, financial services businesses are bringing innovation to banking by leveraging technology to reimagine and change processes that were once unthinkable. Banks handle large amounts of cash, creating the omnipresent temptation for opportunists and criminals to take advantage of the situation and steal cash or commit fraud. Until recently, banks believed the best protection in the retail banking environment against these threats was having two people work together, providing the business with an increased margin of safety and reducing theft and fraud. This safety comes at a price, however. As the average bank size grows, the cost of staffing increases significantly. Having two people perform functions
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