March Networks, a provider of intelligent internet protocol (IP) video solutions, is now offering a new data analytic as well as high-definition cameras that might help banks triple their video quality, double their fraud defenses, and cut fraud investigation costs by as much as 50 percent, the company says.
More than 400 banks and credit unions worldwide currently use March Networks Financial Solutions to deliver reliable surveillance, integrated fraud detection and case management. In response to continuing losses from credit card fraud and electronic crime at automatic teller machines (ATMs), the company is adding its March Networks Searchlight Skimming Detection (SD) application to the Financial Solutions portfolio.
March Networks Searchlight SD is a data analytic that can actively alert banks to potential crimes at ATMs. It uses advanced software to monitor ATM video and transaction data simultaneously and alert investigators to suspicious and potentially fraudulent activity, such as the installation of illegal card skimming devices or cash harvesting at an ATM using multiple stolen cards.
March Networks Searchlight SD offers more than 50 customizable search parameters and a web-based dashboard that provides investigators with daily, filtered updates that would typically take days to assemble. It enables banks to increase their fraud detection and reaction rates and improve investigation productivity dramatically, when used as part of March Networks comprehensive solution.