March Networks, a provider of intelligent IP video and business analysis applications, announced that Banco de Occidente S.A. will use the company's networked video recording systems and management software to centralize security and loss prevention operations across 200 retail banking branches.
Based in Cali, Colombia, Banco de Occidente provides numerous banking services to customers nationwide. It is one of the country's largest financial institutions and is a subsidiary of Grupo Aval Accionesy Valores S.A. (Grupo Aval), a publicly-traded holding company that includes four of Colombia's major banks and other financial organizations.
Following an evaluation of several surveillance systems, Banco de Occidente selected the March Networks solution based on the strength of its video compression technology, which reduces bandwidth and storage requirements, and its enterprise-class video management software. The system's advanced case management tools and high quality video evidence will help the bank combat theft and fraud and better safeguard customers. In addition, the system's remote health monitoring capability will provide the bank with optimum performance and reliability.
"Our IP video solutions for the financial market continue to outperform in competitive trials, where high reliability, video resolution and performance across the network are of prime importance," said Peter Strom, President and CEO, March Networks. "We are proud to provide Banco de Occidente with the video management capabilities it requires to protect its clients and assets while streamlining security operations."