CSIA 485 Project #4 Recommendation Memo

PACOM Security Solutions

University of Maryland University College

13 November 2015

Introduction

Due to fast growing technologies in this dynamic environment, threats to security systems have also increased. To minimize this threat to confidential data, every organization try to use frequent and aggressive monitoring and/or security system. All activities of Bank Solutions are based on the ability to store and secure data. Bank Solutions managers hire and train employees to manage technology to secure data, and also purchase different data security systems to make it sure that confidential data is and remain secure.

The banking industry faces many challenges due to data security. Many challenges arose due to poor data security management within financial institutions. For this reason, banks purchase different security systems to better secure data like MBS IT security solution, perimeter security monitoring system and PACOM security solutions etc. The purpose of these security systems is to provide high security to minimize the risk of cybercrime in banks (Modernbanking.com, 2015). Bank Solutions has chosen the PACOM security solution and evaluated all related benefits and issues about PACOM security solution.

PACOM Security Solutions

PACOM has established a notable reputation as a worldwide leader in the arena of remote security supervision and management within banking & financial markets. PACOM brings:

· Over twenty five years of experience

· Globally it has installed in more than 70,000 sites

· Several large banks globally have utilized this solution

· PACOM has developed and maintained long term customer relationships

Capabilities of PACOM Solutions

PACOM solution joins industry principles and confirms that your primary investment is secure by assisting a simple relocation track to the newest technological developments. The “open” style of PACOM systems safeguards simple serviceability, care and support.

The banking/financial industry is faced with the challenge of increasing mergers & acquisitions that usually influence operations and compatibility of banking activities. The PACOM solution allows the immediate support of numerous different systems on a sole shared platform to support ensure interoperability, and creates an opportunity for migration path where safety can be improved and new skills & technologies introduced over time.

The value added solutions of PACOM is user friendly, reliable and specially constructed to decrease the recurring expenditures of the organization that are linked with network operations & security management and minimize cost resulting due to theft or property damage. Video addition PACOM Solution assimilates with several leading video producers on the market. Spontaneous “video confirmation” can be proficient from a Security Processes Center (SPC) to reduce the occurrence of false alarms.

Integration of PACOM solution with banking apparatus with quick and effective customer service being of the greatest importance, several banks have organized numerous systems, like as cash reprocessing units and cashier drawers, to upsurge performance, reduce risk and recover operational costs. The PACOM solution can wisely assimilate with these schemes to expand security.

PACOM solution can provide security to Automatic Teller Machine (ATM) from free- standing machines to the wall machines units inside devoted safe rooms. Criminal assaults at ATMs and the accountability for assaults on customers are of great concern for banking and monetary institutions.

PACOM system provide complete diagnostic and testing system with best ATM service provided by skilled staff with an extraordinary ATM’s monitoring system that is very helpful in securing ATM’s data and money from theft.

Cost of PACOM Security Solutions

Cost of PACOM security solution is moderate, it is slightly more than other security systems, but compared benefits overshadows industry leaders, making cost very reasonable. By expending funds on installation of PACOM solution, Bank Solutions can save following costs:

· No Communication cost to the Safety System as Bank Solutions can use the prevailing system to communicate alarm information.

· Reduced operational cost due to several remote management capabilities

· Enormous decline in false alarms

· Termination at each phase of the system

· Fully combined security scheme to cope with all security requirements (Bellsec.in, 2015).

Maintenance Requirement for PACOM

PACOM introduces a new system of maintenance according to the changing security requirements of the banking industry to include Bank Solutions. Maintenance services include transferring incomplete or full security accountability and actions to a 3rd party that is expert in security management & the delivery of specialized services. This transferring provides risk adverse option to banking.

Maintenance Services Additions are mentioned below.

· System alignment and maintenance

· Safety software holding and backup

· Alarm checking and supervision

· Remote entry and confirmation

· Recording the rapid information (PACOM.com, 2015).

PACOM introduced a proactive maintenance solution, which provides several tools that help in proactive maintenance actions. It means that banks can easily and routinely test locations and upgrading firmware, from a main central site, which aids to lessen expensive on-site visits.

Reliability, Flexibility and Feasibility of PACOM implementation

All products of PACOM are considered with the maximum operational necessities in mind. PACOM solutions are includes the capability to apply numerous coatings of redundancy, reliant upon customer desires. If the need is based on the criticality of system communications or spreads server accessibility, PACOM is the solution to the needs of customers.

PACOM solutions is tailored to meet customers’ requirements. The solutions are flexible and reliable which can be easily changed according to the customer needs. PACOM is truly a global security system because of the information that is delivered through PACOM is highly reliable and easy to access. All products of PACOM are cost effective and ensure high quality, vigorous and reliable security system that is easy to implement and understand.

For proper implementation PACOM also provides training and supporting programs for employees to better understand and effectively implement the PACOM security solution (Stanleysecurity.co.uk, 2015).

Advantages & Disadvantages of PACOM Security Solution

There are many benefits of this system. PACOM outperforms all other security solutions, it is helpful in securing sustainability for the organization, PACOM provides excellent level of ISO 9001:2008. The intelligence security controller 8003 provides best security services according to current needs.

On the other hand, some issues known with PACOM security solution: it is more expensive for small banks and financial institutions because they have less capital and they are unable to invest in high security solution provided by PACOM, another is PACOM works with 3rd party partners, this can also pose a threat to the security system because in spite of agreements and contracts, the 3rd party partner can provide harm to confidential data of the bank.

Authorization is a key element. Authorization, assessment, and authentication is actions that are taken to confirm the rationality of a specific transmission. It means that for this reason the user of this system should be properly trained and granted with certain sets of information that is very necessary to control the system, this training also put some cost to the organization through which the users of this technological security solution can better understand how to implement it, on the other hand it is again expensive activity for small banks and financial institutions (PACOM.com 2015).

Conclusion

This document provides a complete analysis of PACOM security solution and also provides key elements for successful implementation of security solutions. PACOM delivers more access control abilities with many other security applications, the system of PACOM is user friendly and its powerful programming makes the data administration more easy and it also saves time.

Security system becomes a compulsory need of every organization specifically the financial institutions because their business is based on confidential data. PACOM security solution requirements recognized within this document will be key basics in the achievement of keeping a vigorous information security package.

Guaranteeing client data is secure; Bank Solutions must capitalize on essential alterations to uphold system efficiency (Confidentiality, Reliability, and Accessibility). Information security specialists in the workforce must confirm staffs with need-to-know are retrieving data that may not require to be in the hands of all employees of Bank Solutions.

To pass modification inside the Bank Solutions, the requirements recognized must be given quick deliberations so that as soon as possible the up-dated system must be installed to minimize the risk of damage to data and other security systems that are running in banks.

References

1. Modernbanking.com,. (2015). IT Security Solutions | Modern Banking. http://www.modernbanking.com/solutions/it-security-solutions/

2. PACOM.com,. (2015). SECURITY SOLUTIONS MANAGED SERVICES. http://file:///www.PACOM-brochure-managed-services.pdf

3. Bellsec.in,. (2015). PACOM Solutions : Bell Securitech Pvt. Ltd http://www.bellsec.in/PACOM.htm

4. Stanleysecurity.co.uk,. (2015). STANLEY Security - PACOM https://www.stanleysecurity.co.uk/solutions/access-control/enterprise-managed-access/PACOM

5. PACOM.com,. (2015). Standard Training | PACOM. http://www.PACOM.com/training-schedule.php

6. PACOM.com,. (2015). SECURITY SOLUTIONS Banking and finance. http://file:PACOM-retail-banking-brochure%20(1).pdf