OTTAWA , Nov. 8 /PRNewswire-FirstCall/ - March Networks(TM) (TSX:MN; AIM:MNW), a leading provider of intelligent IP video and business analysis applications, announced today that the Bank of New Zealand has selected its R5 Visual Intelligence management software and networked video systems for more than 170 retail banking branches throughout New Zealand . The rollout is expected to be completed by the end of 2008. Approximately 80 units have already been installed.
Headquartered in Auckland , the Bank of New Zealand is the country's third
largest financial institution, with assets of more than NZ
The Bank of New Zealand will use the March Networks solution to enhance loss prevention and security operations and efficiencies across its retail footprint. A key factor in the bank's selection was the strength of March Networks' enterprise-class video management. The software provides the bank with centralized video network management and health monitoring for optimal performance and reliability, as well as integrated authentication for added security and convenience. Flexible video retention ensures efficient data storage and extends the retention of important video automatically, based on business rules set by the bank. The solution also supports advanced business analysis applications, such as ATM and teller transaction data integration.
Guardall NZ Limited, an experienced March Networks Certified Solution Provider with offices in Auckland , is providing all installation and technical support services.
"The March Networks systems deliver the investigation and administration capabilities we need to work effectively and ensure the security of our customers, employees and assets," said Mike Byrne , Head of Fraud and Security, Bank of New Zealand . "Combined with Guardall's product and integration expertise, we are confident this high performance solution will meet our immediate needs and support future requirements as well."
Peter Strom , President and CEO of March Networks said, "We are pleased to be working with the Bank of New Zealand and expanding our global footprint in the financial services sector."
About March Networks
March Networks(TM) (TSX:MN; AIM:MNW) is a leading provider of intelligent IP video and business analysis applications that enable organizations to reduce losses, mitigate risks and improve security and operational efficiency. The Company's advanced software suite includes enterprise-class video management, powerful analytics and comprehensive managed and professional services. Our software and systems are used by leading financial institutions, retailers, transportation authorities and other organizations 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.