Ohio-headquartered Fifth Third Bank, is
piloting the Searchlight portfolio of data analytics by March
Networks – global provider of IP video solutions – with the aim of
detecting and reducing fraud losses at ATMs and teller lines.
The March Networks Searchlight portfolio aims
to combat ATM skimming and bank card fraud.
Go deeper with GlobalData
Fifth Third has also initiated an upgrade
programme of its existing March Networks’ video surveillance
systems across more than 1,300 retail banking branches, data
centres, corporate offices and operations, and cash handling
facilities.
March Networks has already started deploying
12,000 new IP and analog cameras, and will upgrade to new 4,332 C
Hybrid Network Video Recorders (NVRs) nationwide.
Mike Neugebauer, vice president and senior
manager for safety and security at Fifth Third, said:
“The new hybrid platforms offer impressive IP
performance and work with our existing March Networks video
management software, making the transition simple and
cost-effective.
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By GlobalData“We are also very interested in the
Searchlight applications, which would allow us to securely
correlate our surveillance video with transaction data, license
plate data, and facial images. We believe these banking analytics
could help us identify fraud earlier and gather evidence more
quickly to significantly reduce losses,” said
Searchlight Financial Transaction
Investigation software synchronises ATM and teller transaction
records with detailed video evidence. The Searchlight Skimming
Detection, Image Tracker and License Plate Tracker applications aim
to speed up investigations and strengthen case evidence to help
banks more effectively combat ATM skimming, cash harvesting and
other frauds.
March Networks systems are delivered through a
distribution and partner network in more than 50 countries.
Fifth Third has total assets of approximately
$115bn and is the 10th largest lender in the US by
branches with a 1,370-strong branch network.
