�鶹��

While banks spend billions protecting against the physical safety of brick-and-mortar branches often lags behind. Despite advancements in online banking, millions of Americans still rely on local branches for essential financial services. Unfortunately, outdated security measures leave employees and customers at risk.

Kevin Mullins, CEO of SaferMobility, says it’s time for banks to modernize.

“Cybersecurity is critical, but it’s only part of the solution,” Mullins said. “Branch hasn’t evolved in decades. Employees are left vulnerable to threats that could be prevented with better technology.”

Outdated Protocols Persist

Many banks still rely on security practices developed in the 1960s. One example is the “all-clear” process, where one employee enters the branch for a security check while another waits outside. A signal, such as a rubber duck or a plant, indicates that it’s safe to enter.

“It’s hard to believe we’re still using these methods in 2024,” Mullins said. “Criminals today are much more sophisticated. They can observe this process for a day or two and exploit it easily.”

A common crime targeting banks is the “morning glory” robbery, where perpetrators strike during opening hours when employees are isolated.

“These robberies aren’t just financial losses—they’re life-altering experiences for those involved,” Mullins said. “Employees have been held at gunpoint or tied up, and the trauma can last for years.”

Crime Rates Reflect Ongoing Risks

The FBI reported more than 1,300 bank robberies, burglaries, and larcenies in 2023. While significantly lower than the 9,000 annual robberies seen in the early 1990s, the numbers highlight that physical branches remain vulnerable.

“Even one robbery is too many,” Mullins said. “These incidents often involve violence, and no one should face that at work. It’s unacceptable to rely on mid-20th-century solutions to prevent 21st-century threats.”

Staffing reductions have made the problem worse. Many branches now operate with fewer employees, sometimes relying on a single person to open or close.

“With fewer staff, the is stretched thin,” Mullins said. “Technology-driven solutions are needed to fill those gaps.”

Modernizing Security with Technology

SaferMobility is working to bring branch security into the modern era. Its innovations include:

• Encrypted notifications to streamline opening and closing procedures.
• Integrated surveillance systems for remote monitoring.
• Electronic door locks that block unauthorized access until the branch is secured.

“Our technology makes security proactive and reliable,” Mullins said. “For example, our electronic doors won’t unlock until an encrypted signal confirms the branch is clear. This reduces risks like ‘morning glory’ robberies.”

SaferMobility also offers mobile app features, such as panic alarms, real-time communication with law enforcement, and check-ins with headquarters.

“We’re putting security in the hands of employees,” Mullins said. “It’s about giving them tools they can trust in real-time situations.”

Call for Updated Regulations

While new technology is crucial, Mullins believes regulators also need to act.

“Security standards haven’t changed since the 1960s,” Mullins said. “Agencies like the FDIC and Federal Reserve need to require modern solutions that address today’s threats.”

Updated regulations, Mullins said, would help banks prioritize physical security alongside digital protections.

“Banks aren’t ignoring safety—they’re often constrained by budgets,” he said. “Regulators can set clear expectations that push institutions to allocate resources effectively.”

A Safer Future

SaferMobility’s technologies are already being piloted at branches across the country. Mullins said the ultimate goal is to protect people, not just money.

“Banks have always been symbols of security,” Mullins said. “Our mission is to ensure that security extends to every part of the customer and employee experience.”

Mullins sees a tipping point ahead.

“The tools are here, the risks are clear, and the need is urgent,” he said. “Now it’s about committing to act.”

For SaferMobility, the future is about more than technology—it’s about creating a culture of safety that protects everyone who walks through a bank’s doors.

Featured Image Credit: Photo by Zeeshaan Shabbir;