OTTAWA, ONTARIO, November 20, 2008 â€“â€“ March Networks, a leading provider of intelligent IP video and business analysis applications, announced today that a major financial institution in Latin America has selected the Companyâ€™s networked video recording systems and investigation software for deployment across more than 1,900 retail banking branches and automated teller machines (ATMs). The Company expects to fulfill the order, which is valued at more than CDN $6 million, within the next 12 months.
The financial institution will use the March Networks solution to enhance efficiency by centralizing its security and loss prevention operations across its network. The solutionâ€™s ATM transaction data integration software, combined with advanced case management tools and high quality video evidence, will help the bank combat fraud and theft. In addition, its remote video management and health monitoring capability will enable optimum performance and reliability.
Designed to help organizations transition to the latest IP video technologies while protecting investments in existing CCTV infrastructure, the solution also supports March Networksâ€™ portfolio of VideoSphere IP cameras, encoders and intelligent video analytics. The financial institution can choose to deploy these new capabilities at any time to further enhance security and customer service, and ensure corporate compliance.
"We are pleased to add this leading Latin American bank to the growing list of financial institutions using our solutions worldwide," said Peter Strom, President and CEO, March Networks. "Our integrated video surveillance and business analysis applications provide institutions with the powerful tools they need to address fraud, theft and liability issues, particularly during challenging economic periods."