Banking & Finance

Avigilon Reports Record Revenue; Stock Plummets

Although Avigilon Corporation (AVO.TO) recently reported their financial results for the six months ending June 30, 1016, it hasn’t been well received for the Toronto-based security solutions provider. In order to achieve those record revenue figures, the company had to slash prices on many of its popular products. This means much lower operating margins and their earnings per share are half of what they were last year. Much of this is in direct response to Chinese companies, such as Hikvision and Dahua, taking a larger share of the market with a low-price strategy. Therefore, Avigilon has had to make some significant price adjustments to remain a market contender.

SG-System 5 Integrates With Manitou Central Station Software From Bold Technologies

Tyco Security Products is announcing an enhanced integration between its SG-System 5 receiver and Bold Technologies’ Manitou central station software. The enhanced integration means that Manitou now supports visual alarm verification provided through SG-System 5 to provide central stations with the tools they need to more accurately access alarm situations and to reduce false alarms. […]

Tyco Security Products Introduces World’s Most Accurate Reader, Contactless Biometrics

Tyco Security Products introduces the Safran MorphoAccess SIGMA Series access control high speed biometric and card reader featuring the world’s number one performance-ranked fingerprint technology and the world’s only single hand movement capture and match reader, the MorphoWave Tower. Using this technology, C•CURE 9000 Security and Event Management platforms are now able to deliver contactless […]

New GPS Tracking Solution Offers Protection for ATMs in Financial and Retail Establishments

This innovative system’s global platform leverages multiple security and tracking applications and will deliver impressive apprehension (up to 70% of cases) and asset return (more than 87%) rates. By incorporating smart technology, the devices offer wide flexibility in deployment and improved data storage and organization. The ATM Tracker offers a compact profile which makes it easier to install in different ATMs or similar cash dispensing machines.

DigitalPersona Fingerprint Biometric Solutions Improve Security And Service In Latin America Banks

DigitalPersona, Inc., a trusted partner for biometric identity verification solutions, announced that Coppel Corporation, a group of retail and finance companies, has chosen DigitalPersona® fingerprint technology to verify employee and customer identities in more than 800 banks and 1,000 Pension Fund Offices throughout Mexico, Argentina, and Brazil. Coppel Corporation also maintains similar biometrics-based solutions in […]

Biometric Technology: Curbing Fraud In Banks

biometric Mukosha mulenga By MUKOSHA MULENGA BANKS and other financial institutions hold the key to one of our most treasured assets: our money. Most banks are now looking at using biometrics to protect against identity fraud and comply with government regulations. The use of biometric technology is becoming widely recognised in the banking industry as a viable means to prevent identity fraud, safeguard data, improve ease-of-use, and save money from lost or stolen passwords. When you consider that approximately 84 percent of bank fraud is committed by in-house staff, or that nearly 40 percent of all help desk calls are for forgotten passwords, it is no surprise that many banks are turning to biometric technology for increased security and convenience.  Banks therefore now have the challenge of integrating fingerprint functionality into existing in-house applications or their core banking applications. Banks can use solutions such as ) from M2SYS, for safeguarding enterprise data and reducing costs. EBS supports active directory, and can enable banks to secure login to their network and replace user names and passwords with something that you cannot share, lose, or forget: Your Fingerprint! With an ever-increasing number of security breaches, the pressure on banks to implement methods of password management, identity management, data and network security, and two factor authentication has never been stronger. The sharing or theft of user passwords still remains the most popular reason that corporate data is compromised. Biometrics solves this problem by allowing businesses and banks to implement a centralised biometric […]

Bank Of America Merrill Lynch Secures UK Operations With G4S

Bank of America Merrill Lynch in the UK has awarded security and outsourcing firm G4S a major contract to help protect its operations here. From December this year the three-year contract will see over 200 officers from G4S Secure Solutions protect six key sites for the bank, in a move that G4S says will form one of the company’s largest commercial UK contracts. Under the deal G4S staff will provide reception security, access control, patrolling, administration, CCTV operations and systems, intelligence and risk management at the six sites across the UK and Ireland, including its headquarters at King Edward Street, London. The UK deal will also see G4S provide “sophisticated technology-based security solutions”, said the bank, including handheld devices for G4S officers providing intelligence, reporting and monitoring. Other technology-enabled operations will include reporting procedures harmonised between the UK and the US, leading to a single global standard for the bank. The total value of the contract has not been disclosed. G4S already provides security solutions to over 3,000 Bank of America branches across the US and facilities across the world. G4S has just confirmed that the chief executive of its UK and Ireland business, Richard Morris , has resigned after 10 years at the company. He has been replaced by Eddie Aston, who was the company’s chief operating officer. Morris’ departure comes after a series of controversies surrounding G4S’s work on public contracts, including being accused of overcharging for them. And last year, a failure in an internal computer […]