Financial IT Security Magazine Names 3VR one of the 25 Best Security Innovations for 2007
San Francisco, CA — December 13, 2006 —3VR Security, Inc., www.3VR.com, the pioneer of searchable surveillance, today announced it has been named to Financial IT Security magazine’s annual “Future Now List,” which recognizes the 25 best security innovations for 2007. 3VR was chosen for the technological sophistication of its product and the ability to dramatically improve bank security.
“While much of the focus in the industry is on the significant rise of online crime, physical security remains a vital component of protecting financial institutions’ assets and preventing losses. The innovation of 3VR—the only physical security company to make our list—takes protection of the physical enterprise one step farther by combining video surveillance, biometrics and real-time fraud analytics,” said Holly Sraeel, editorial director of Financial IT Security Magazine.
Banks lose more than $5 billion every year from criminals assuming false identities and conducting fraudulent transactions. Conventional systems only capture these transactions on video with no means to stop fraudsters from striking again and again. 3VR is the first company to use video and face recognition to automatically detect and disrupt repeat fraud offenders. 3VR systems continuously analyze in-branch video and generate alerts for watchlist fraud suspects. By automatically categorizing activity, 3VR speeds investigations with instant searches of surveillance data.
Steve Russell, CEO of 3VR commented: “The costs of check fraud have never been higher. With illicit profits funding terror groups and organized crime, banks can no longer simply rely on teller memory to combat fraud. Leading banks are adopting 3VR and seeing real reductions in fraud by deterring, detecting, and disrupting losses. We are very pleased to be recognized for our work by Financial IT Security for our innovation in this area.”
About 3VR Security, Inc.: 3VR Security, Inc. is the leading developer of searchable surveillance systems. Pioneering a new standard in video security, 3VR systems combine traditional video recording with powerful facial biometrics and analytics to dramatically improve physical surveillance. With 3VR, customers can instantly search video, pre-define alerts for specific people, objects, and activity and prevent crime. These advances deliver new ROI by intelligently using video to stop losses, speed investigations, and improve guard productivity. 3VR systems are simple to use and install and can scale up to thousands of cameras spanning across geographies.
3VR was recently named one of Always On 100 companies, Red Herring’s Top 100 private technology companies, 2006 Security Product of the Year by Frost & Sullivan and Product of the Year from the Security Industry Association in both the 2005 and 2006.
About Financial IT Security Magazine: Financial institutions in today’s marketplace continue to face growing security threats, due to
recent world events and stealthy perpetrators. As amplified identity and security fraud threaten to increase potential losses of proprietary knowledge and profitable customers, information is key in combating this unavoidable challenge. Each quarterly issue delivers financial services security executives a comprehensive publication focused on financial security issues and the impact of technology on this top-of-mind area.
©2008 3VR Security, Inc.