UNION SAVINGS BANK RECOGNIZED FOR 3VR – FISERV INTEGRATION

With In-Person Fraud Reduced by 80% Year over Year, Bank Technology News Names Union Savings Bank Deployment as the Top Community Bank IT Initiative

San Francisco, CA – March 3, 2010 – 3VR Security Inc., the global leader in intelligent surveillance and search, today announced that Union Savings Bank’s integration of 3VR technology with Fiserv’s Cleartouch bank platform has been recognized by Bank Technology News as one of the most successful community bank IT initiatives of 2009. The integration allows Union Savings to connect data from teller operations directly with the 3VR video surveillance platform to protect their organization and account holders from fraud. The combined solution enables the bank to tag and thereby pinpoint video footage for individual transactions or accounts, dramatically cutting the time needed to research and identify fraudulent transactions and facilitating immediate response and crime prevention.

Union Savings Bank, which has deployed 3VR in all of its 18 branches with the help of Connecticut integrator United Alarm Services, has seen significant results from this integrated solution: “We can now locate video footage of individual transactions, do cross searches and search video by account or transaction type,” said Bill McNamara, senior vice president of technology and security, Union Savings Bank. “The integration of 3VR with our Cleartouch teller system enables us to easily surface the face of a perpetrator when we know a fraudulent transaction has taken place, which really expedites the identification and prosecution of the criminal. The solution has been a significant part of our success. We've seen a reduction in our fraud of roughly 80% year-over-year from 2008 to 2009.”

Fiserv’s Cleartouch bank platform enables financial institutions to record and save data from every teller transaction. With the integration of 3VR’s intelligent and searchable surveillance platform, security personnel can use 3VR’s unique search capabilities to search the video based on transaction number, type or timestamp, among other vectors, to instantly obtain a video history of the account or transaction, streamlining the crime prevention process and making it easier and faster to identify fraud.

Once footage of a suspected fraudulent transaction is located, 3VR’s advanced analytics, including facial recognition, enable comprehensive analysis of all captured footage to determine whether there are additional incidents related to other accounts or locations. For instance, for any given account, the 3VR system can verify whether the account holder is conducting a transaction or if someone else is trying to access the account and immediately alert security personnel if needed. Additionally, if a suspected fraudster is identified, 3VR can surface other instances involving that person based on facial surveillance.

“We are proud to be part of this award winning solution,” said Al Shipp, CEO, 3VR. “3VR’s open platform approach enables us to combine teller systems, video analytics and industry leading video management so that we can facilitate unique solutions like this one for Union Savings. The combination of Fiserv and 3VR technologies provides a powerful and easy-to-deploy security solution with significant and tangible results of which all financial institutions should take note.”

 

About 3VR
3VR Security, Inc. is the global leader in Intelligent Surveillance and Search (ISS) – a faster, more reliable, and less expensive way to fight crime, ensure people’s safety and improve business efficiency. With 250 billion hours of video captured every year in the U.S., the award-winning 3VR Intelligent Surveillance Platform makes it possible to efficiently mine and manage it. 3VR is the security standard for hundreds of global customers, including leading banks, retailers, governments and law enforcement agencies. Based in San Francisco, CA, the company is privately held with funding from Kleiner Perkins Caulfield & Buyers, VantagePoint Ventures, In-Q-Tel and DAG Ventures. 3VR’s SmartRecorder is the three-time winner of the SIA Best New Video Product Award and was named Security Product of the Year from Frost & Sullivan in 2006 and 2007, among other awards. For more information, please visit www.3vr.com.

About Fiserv
Fiserv, Inc. (NASDAQ: FISV) is the leading global provider of information management and electronic commerce systems for the financial services industry, driving innovation that transforms experiences for financial institutions and their customers. Ranked No. 1 on the FinTech 100 survey of top technology partners to the financial services industry, Fiserv celebrated its 25th year in 2009. For more information, visit www.fiserv.com.

About Union Savings Bank
Established in 1866 and headquartered in Danbury, Conn., Union Savings Bank is a $2.0 billion mutual bank dedicated to providing excellent customer service to its customers and communities. As a full-service financial institution, Union Savings Bank provides banking, mortgage, investment and insurance products throughout western Connecticut with eighteen offices in Bethel, Bridgewater, Brookfield, Danbury, Kent, New Fairfield, Newtown, New Milford, Ridgefield, Sharon and Southbury. For more information, visit www.unionsavings.com.

Media Contacts
Whitney Glockner
3VR Security, Inc.
wglockner(at)3vr(dot)com
+1 415 874 2527
Dana Zemack or Virginia Zimpel
LaunchSquad
3vr(at)launchsquad(dot)com
+1 415 625 8555