March Networks named top provider of banking video surveillance in Americas
OTTAWA--March Networks, a global provider of intelligent IP video solutions, announced that it is the number one supplier of video surveillance equipment in the Americas banking market as ranked by IMS Research in its report "Vertical Insights: Video Surveillance and Security in Banking and Finance - 2011 Edition".
More than 450 banks and credit unions currently use March Networks Financial Solutions globally, including six of the top 10 U.S. banks, five of the seven largest banks in Mexico, the majority of Canada's top five financial institutions, and leading banks across Europe, the Middle East and Asia Pacific. The solutions provide centralized video surveillance and fraud defense across an organization's entire operation, from retail banking branches, ATM lobbies and parking lots, to corporate offices, vaults, cash counting areas and data centers.
"We are very proud of our top market share ranking and continue to see strong growth opportunities on a global basis in this very important category. Losses from fraudulent activities, such as ATM skimming and cash harvesting, are a global problem and are estimated to cost banks more than $1 billion in annual losses. With this growing threat, banks are increasingly turning to March Networks to help them protect their bottom line," said Peter Strom, President and Chief Executive Officer, March Networks.
One of March Networks' top-tiered U.S. financial customers, for example, said it had tripled its annual fraud recovery target and saved millions of dollars in profits after deploying the company's Financial Transaction Investigation (FTI) software and hybrid video surveillance system. In addition to FTI, March Networks' Financial Solutions include Searchlight Skimming Detection and advanced case management software that enables banks to conduct investigations quickly, lower costs per investigation, and build stronger case evidence to support successful prosecutions.
The portfolio also includes powerful video management software, high-definition IP cameras, and industry-leading hybrid network video recorders (NVRs) that protect customers' existing investments in analog CCTV infrastructure while supporting a cost-effective migration path to all-IP video.
This is the second time in as many months that March Networks has been recognized for its leading position in the Americas marketplace. The company was also ranked the number one provider of enterprise DVRs in the Americas by IMS Research in its report "The Americas Market for CCTV and Video Surveillance Equipment - 2011 Edition".