OTTAWA, Oct. 26 /PRNewswire/ - March Networks® (TSX: MN), a global provider of intelligent IP video solutions, today announced that Banorte - one of Mexico's five largest national banks - has selected the company's video management software and hybrid NVRs to upgrade its existing surveillance systems across more than 1,100 branches. The win with Banorte, valued at approximately $1.2 million, builds on March Networks' success providing its Financial Solutions to a growing customer base that currently includes more than 400 financial institutions worldwide.
For the past five years, Banorte has relied on March Networks for security and high-quality video evidence. The financial institution will now deploy the company's next-generation systems to take advantage of integrated case management and fraud investigation tools, and prepare for future fraud prevention applications available in the Financial Solutions portfolio. Banorte continues to select the March Networks offering based on its ability to outpace competitive offerings in such areas as up-time levels, scalability, and ease of operation.
"The March Networks solution delivers the reliability and critical video management we need to effectively safeguard our customers, staff and operations," said Banorte's Security and Protection group. "It also gives us the flexibility to deploy IP cameras and advanced analytics when and where required."
In addition, the solution's exceptional video compression will enable Banorte to reduce its bandwidth usage by as much as 25 percent. The improved efficiency is important given Mexican government legislation that requires banks to send video surveillance images from every alarm over low-bandwidth connections to a Seproban central monitoring location in a coordinated effort to combat crime.
"Hundreds of financial institutions around the world are using our proven solutions to enhance security across their enterprise and reduce losses from fraud and other criminal activity," said Paul Novak, March Networks General Manager, Global Financial Solutions. "Many of these banks, such as Banorte, are long-term March Networks customers who not only continue to select our solutions but also recommend them to their industry peers."
About March Networks
March Networks® (TSX:MN) is a global provider of intelligent IP video solutions. For close to a decade, the company has helped some of the world's largest commercial and government organizations transition from traditional CCTV to networked video surveillance used for advanced security, loss prevention and risk mitigation. VideoSphere®, the company's enterprise-class video management portfolio, includes open-platform VMS software complemented by high-definition IP cameras, encoders, video analytics and recording platforms, as well as outstanding professional and managed services. March Networks systems are delivered through an extensive distribution and partner network and currently support over one million channels of video 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.
*MARCH NETWORKS, VideoSphere and the MARCH NETWORKS logo are registered trademarks of March Networks Corporation. All other trademarks are the property of their respective owners.
SOURCE MARCH NETWORKS CORPORATION