OTTAWA, Ontario -- March Networks, announced today that its Digital Video Recorders (DVRs) and Enterprise Management Suite software have been selected by Wachovia Bank, N.A. of Charlotte, North Carolina, as the standard digital video surveillance system for Wachovia's retail banking facilities and international corporate offices. Wachovia (NYSE:WB) is the fourth largest financial services company in the United States with approximately $507 billion in assets and 3,500 financial centers located in 15 states and Washington D.C.
Wachovia selected the March Networks DVRs, Enterprise Management Suite and optional Banking Assistant software module as the standard video surveillance system for its facilities following a thorough product evaluation process conducted by its physical security and IT teams.
"During our evaluation, we determined that the March Networks DVR systems are heads above everything else in the market," states David Smith, Vice President and Leader, Security Systems and Equipment with Wachovia Bank. "The DVRs are engineered to perform as networked security devices, and are well-suited to the high reliability demands of large implementations such as ours at Wachovia."
A phased deployment of the Linux-based DVRs and software was started in early 2005 and entails integration with the bank's access control systems and alarm monitoring center. The Banking Assistant software module links digital video with synchronized ATM and teller transaction data to support the bank's loss management and corporate fraud investigations teams in expediting dispute resolution and investigations.
Using the March Networks Enterprise Management Suite, the multisite DVRs are provided with consistent programming and configuration in all retail banking locations. The software's centralized management capabilities provide the bank's security services group with centralized control and access to video across all of Wachovia's locations. Additionally, the software supports remote diagnostics, user authentication and automated system health notification of the IP-networked DVR installation, ensuring a highly secure and highly reliable video network.
"With this new customer, and a number of other pivotal account wins in the banking market, March Networks is quickly being recognized as the digital video vendor of choice for financial institutions," states Peter Strom, president and CEO of March Networks. "The company has demonstrated its commitment to this market through our banking-focused applications, solid hardware platform, and our alignment with channel partners that are able to deliver on the requirements of banking customers."