March Networks: $7 Million Contract with Financial Institution

March Networks, global provider of intelligent IP video solutions, announced that a top ten global financial institution will deploy the March Networks VideoSphere Banking solution across more than 2,000 U.S. banking locations. The company expects to complete the delivery of the order, which is valued at over $7 million, during the next 12 months.

This financial institution chose to displace a competitor's products and standardize on the VideoSphere Banking solution as a result of March Networks' history of reliability, centralized management capabilities and overall ease-of-use. Additionally, the VideoSphere expansion capability for enterprise-level ATM/Teller integration and high-definition (HD) IP camera expansion on the same device were important deciding factors.

The industry leading VideoSphere portfolio delivers a highly scalable, end-to-end HD video security solution that provides security staff with an intuitive way to manage cases and accelerate investigations. With advanced analytic applications the solution will significantly reduce losses from ATM skimming and other fraudulent activity. Additionally, software analytics such as queue line monitoring, people counting, and facial detection allow VideoSphere customers to increase customer satisfaction and overall efficiency through improved operations.

"This contract confirms the strength of our position as a global leader in the finance and banking vertical," said Peter Strom, president and CEO, March Networks. "As banks and financial institutions continue to stabilize following the effects of the recession, we are confident that March Networks is well positioned to continue to grow and service our very strong customer base."