OTTAWA, Feb. 21, 2012 /CNW/ - March Networks® (TSX: MN), a global provider of intelligent IP video solutions, today
announced more than $2.5 million in orders from a top ten global
financial institution for new video recording systems. The financial
institution is deploying the hybrid network video recorders (NVRs) to outfit new retail banking branches, as well as existing branches as
part of a planned upgrade program. In addition, it plans to use the
company's integrated Searchlight software applications in a number of locations to more aggressively reduce losses from ATM
skimming, cash harvesting and other banking crime.
These latest orders will bring the bank's total March Networks video
surveillance installation to approximately 8,000 locations once the
rollout is complete in August 2012. The customer continues to
standardize on the financial solution because of its centralized video management capability, which enables
authorized staff to access video and conduct investigations remotely at
a much faster pace. The solution also provides the demonstrated
reliability, scalability, and advanced health monitoring and
maintenance needed to ensure optimum system performance across the
extensive surveillance network.
"Our financial solutions help banks maintain a competitive advantage by
enhancing customer asset protection and increasing operational
efficiency," said Peter Strom, President and CEO, March Networks. "We
are pleased to announce new business with one of the world's largest
financial institutions and look forward to showcasing the significant
fraud fighting capabilities of our Searchlight portfolio."
March Networks Searchlight™ applications provide financial institutions with critical business
intelligence that makes it faster and easier to detect and reduce
losses from fraud and other crimes. The portfolio includes Financial
Transaction Investigation software, 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 gather strong case evidence through centralized
searches that correlate video, transaction information, facial images
and license plate data.
More than 450 banks and credit unions worldwide currently use March
Networks' financial solutions to improve security, fraud investigation
and operations. The company is also ranked the #1 provider of banking video surveillance systems in the Americas 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™ 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.
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.
All other trademarks are the property of their respective owners.
SOURCE MARCH NETWORKS CORPORATION
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