CHICAGO, Il. — IP video firm March Networks is introducing new capabilities available in its Searchlight software.
Used by banks and retail organizations worldwide to extract valuable information on customer service, merchandising, operations, compliance and more, the firm says March Networks Searchlight helps businesses improve performance and profitability. Integrating clear surveillance video, relevant business data and highly accurate analytics, the software also enables organizations to proactively detect fraud and theft and quickly review suspect transactions — reducing investigation times by as much as 90%.
With the launch of this latest version of Searchlight, March Networks says customers benefit from enhanced filtering and customization features that make it easier to uncover losses and compare key performance indicators (KPIs) from multiple locations simultaneously. These new capabilities include:
- Expanded fraud/loss detection reporting. Users can now combine specific transaction types with associated point-of-sale (POS) or ATM/teller alarms to proactively pinpoint suspect incidents. A fraud investigator at a bank might set a business rule to report on all loan applications processed with no customer present, while a retail loss prevention manager may want to see all incidents where a no sale transaction is followed by the opening of a cash drawer. Users receive a list of all of their customized exceptions along with links to the recorded video so they can quickly scan through each incident and visually verify what occurred.
- Enhanced transaction pattern detection, which allows users to more precisely define suspect transactions by combining transaction types (e.g. withdrawals, deposits, voids, discounts or refunds) occurring within a set time interval. A retail employee voiding a transaction immediately following a cash transaction, for example, or someone conducting two ATM cash withdrawals below a set threshold within minutes might be committing a crime. This new Searchlight software capability helps investigators identify such theft and fraudulent incidents faster and provides clear video and data evidence to help them prevent recurring incidents from happening.
- People counting with employee filtering, through an integration with the latest FLIR Brickstream 3D analytic sensor, to provide highly accurate customer traffic data and sales conversion metrics. The feature uses a combination of Bluetooth Low Energy (BLE) technology and employee-worn tags to automatically identify and remove staff from customer counts, a process that can otherwise be manual or missing in today’s retail environments.
- Personalized reports that enable users to set and save ‘favorite’ dashboards incorporating data from multiple sites. The customized reports are ideal to help aggregate and compare KPIs, such as the location with the highest percentage of voids or returns, or the most transactions per day over a defined amount.
“These latest Searchlight capabilities make it even easier for our banking and retail customers to uncover, analyze and compare data that’s critical to the success of their business,” said Dan Cremins, global product management leader, March Networks, in a prepared statement. “With more than a decade of experience providing integrated video and data solutions to these markets, we’re now focused on expanding the applicability of the data within an organization, while constantly improving the user experience.”