Top-15 North American Bank Selects March Networks for $2.2 Million Video Surveillance Expansion
OTTAWA, Dec. 22, 2011, 2011 (Canada NewsWire via COMTEX) -- March Networks(®) (TSX: MN), a global provider of intelligent IP video solutions, today announced it has received orders totaling more than $2 million from a financial institution ranked among the top 15 largest in North America.
The orders extend the bank's current March Networks installation to more than 1,000 retail banking branches and include hybrid 4000 C Series NVRs and Visual Intelligence software.
The bank continues to deploy the financial solution to ensure the efficient centralized management of its extensive video surveillance network and to more effectively reduce losses from ATM skimming and other fraudulent activity.
"We are pleased to announce new business with this leading financial customer, and look forward to providing the scalable software and business intelligence applications it requires to achieve a significant return on its investment," said Peter Strom, President and CEO, March Networks.
The financial institution plans to pilot the company's Searchlight banking analytics software. The applications layer additional fraud detection and investigation capabilities onto the surveillance systems to significantly cut losses from ATM skimming, cash harvesting and other theft. The March Networks Searchlight(TM) portfolio includes Financial Transaction Investigation, which synchronizes ATM and teller transaction records with high-quality video to streamline case management and investigator performance. It also includes powerful Skimming Detection, Image Tracker and License Plate Tracker applications that enable banks to proactively detect fraudulent activity at ATMs and strengthen case evidence quickly by correlating facial images, transaction information and license plate data.
More than 450 banks and credit unions worldwide currently use March Networks' Financial Solutions to improve security, fraud investigation and operational efficiency. The company is the #1 provider of banking video surveillance systems in the Americas, according to a recent industry report by IMS Research.
About March Networks March Networks(®) (TSX:MN) is a leading provider of intelligent IP video solutions. For more than a decade, the company has helped some of the world's largest commercial and government organizations transition from traditional CCTV to advanced surveillance technologies used for security, loss prevention, risk mitigation and operational efficiency. Its highly scalable and easy to use Command(TM) video management platform incorporates a web-based client interface to enable rapid system deployment and complete system control. It is complemented by the company's portfolio of high-definition IP cameras, encoders, video analytics and hybrid recorders, as well as outstanding professional and managed services. March Networks systems are delivered through an extensive distribution and partner network in more than 50 countries. For more information, please visit www.marchnetworks.com.
Forward-Looking Statements This release contains certain forward-looking information, including expectations of future business. This information is based on the Company's current expectations and assumptions that are subject to a variety of risks and uncertainties that are difficult to predict and that may be beyond March Networks' control. Actual results could differ materially from those expressed in any forward-looking statements due to factors such as customer demand and timing of purchasing decisions, increased levels of competition, technological changes and the successful development of new products, dependence on third-party manufacturers, risks relating to intellectual property infringement claims, and other risks and factors identified in March Networks' public filings with regulatory authorities in Canada. March Networks assumes no obligation to update these forward-looking statements as a result of new information or future events.
*MARCH NETWORKS, March Networks Command, March Networks Searchlight and the MARCH NETWORKS logo are trademarks of March Networks Corporation.
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To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/December2011/22/c8872.html SOURCE: MARCH NETWORKS CORPORATION MEDIA INQUIRIES: Erica Miskew March Networks +1 613.591.8228 x5760 email@example.com INVESTOR INQUIRIES: Ken Taylor March Networks +1 613.591.8181 firstname.lastname@example.org