OTTAWA, Jan. 9, 2012 /CNW/ - March Networks® (TSX: MN), a global provider of intelligent IP video solutions, today announced that Fifth Third Bancorp has initiated an upgrade program of its existing March Networks' video surveillance systems across more than 1,300 full-service retail banking branches, data centers, corporate offices, and operations and cash handling facilities. One of the top 15 banks in the U.S., Fifth Third Bank has already started deploying 12,000 new March Networks IP and analog cameras, and will upgrade to new 4332 C Hybrid Network Video Recorders (NVRs) nationwide. The bank is also piloting the March Networks Searchlight portfolio of intelligent data analytics to proactively detect and reduce losses from fraud at ATMs and teller lines.
"The March Networks video surveillance solution has consistently delivered solid results for us," said Mike Neugebauer, Vice President and Senior Manager, Safety and Security at Fifth Third Bank. "The new hybrid platforms offer impressive IP performance and work with our existing March Networks video management software, making the transition simple and cost-effective. We're also very interested in the Searchlight applications, which would allow us to securely correlate our surveillance video with transaction data, license plate data, and facial images. We believe these banking analytics could help us identify fraud earlier and gather evidence more quickly to significantly reduce losses."
The orders follow a recent industry report by IMS Research that recognizes March Networks as the #1 provider of banking surveillance systems in the Americas. Worldwide, more than 450 banks and credit unions currently use the company's proven financial solutions, citing scalability, unparalleled reliability and centralized video management as key system benefits.
Fifth Third Bank will upgrade to the 4332 C Hybrid NVR, which will double its existing IP camera support and expand evidence storage. It is also deploying a mixture of March Networks MegaPX WDR MiniDome IP cameras and WDR Indoor Dome cameras throughout its retail bank and critical infrastructure facilities. The cameras' Wide Dynamic Range feature balances scenes with both low and bright light - guaranteeing clear images even in challenging environments such as retail banking branches, where sunlight streaming through large windows can cause subjects in a surveillance scene to appear silhouetted against the bright backdrop.
The March Networks Searchlight portfolio combats two of the most significant exposures financial institutions face today: ATM skimming and bank card fraud, which amount to an estimated $1 billion in losses annually. Searchlight Financial Transaction Investigation software synchronizes ATM and teller transaction records with detailed video evidence. This streamlines search and case management processes, improves investigator performance and reduces associated costs. Searchlight Skimming Detection, Image Tracker and License Plate Tracker applications speed investigations and strengthen case evidence to help banks more effectively combat ATM skimming, cash harvesting and other fraudulent incidents. (Watch a Searchlight video overview)
"Financial institutions around the world have selected March Networks video and data systems to gather better business intelligence and maximize returns," said Net Payne, Chief Marketing Officer, March Networks. "The decision by Fifth Third to upgrade with our financial solution further underlines the bank's confidence in our ability to provide a superior return on investment."
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.
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