Provident Bank Deploys Verint Networked Video Solution
November 30 2006 - 8:30AM
Business Wire
Verint Systems Inc. (NASDAQ: VRNT), a leading provider of analytic
software-based solutions for security and business intelligence,
today announced that Provident Bank, headquartered in Baltimore,
MD, has deployed Verint�s Networked Video solution to enhance
security at approximately 150 branch locations and 250 Automated
Teller Machines (ATMs) located throughout Maryland, Washington D.C.
and Central Virginia. With more than $6.4 billion in assets,
Provident Bank is the second largest independent bank headquartered
in Maryland. Since 1886, Provident Bank has provided traditional
financial services to retail banking customers, and offered related
financial services through wholly owned subsidiaries, including
securities brokerage, investment management and related insurance
services through the Provident Investment Center. Verint�s
Networked Video solution, deployed over the past year, enables
Provident Bank to centrally monitor activities at its retail
branches, in-store retail locations and ATMs and to distribute
video intelligence across the Provident Bank intranet to authorized
security personnel to enhance fraud prevention and investigations
and to help resolve customer disputes in a timely manner. �For more
than 120 years, Provident Bank has provided a safe and convenient
service experience to our customers throughout the Mid-Atlantic
region,� said Michael Collins, Security Manager, Provident Bank.
�Verint�s solutions and their deep understanding of the unique
security challenges that face the banking industry will help us to
maintain this tradition of providing secure and flexible financial
solutions that fit the lives of our customers.� Verint�s Networked
Video Solutions enable organizations of all sizes, from small and
mid-sized enterprises to major government and commercial
organizations, to enhance the security of their facilities and
infrastructure and the performance of their business operations by
networking video across multiple locations and applying advanced
content analytics to extract actionable intelligence from live and
stored video. By alerting security personnel to potential security
threats, Nextiva helps organizations prevent security breaches,
improve response time and enhance operational efficiency. �Verint
has a significant presence in the retail banking market and we are
pleased to help Provident Bank effectively address their security
requirements,� said Dan Bodner, Verint�s CEO and President. �Our
networked video solutions are designed to provide multi-site
institutions with the actionable intelligence they need to maintain
secure operations, prevent fraud and rapidly resolve internal
investigations.� About Verint Systems Inc. Verint Systems Inc.,
headquartered in Melville, New York, is a leading provider of
analytic software-based solutions for security and business
intelligence. Verint software, which is used by over 1,000
organizations in over 50 countries worldwide, generates actionable
intelligence through the collection, retention and analysis of
voice, fax, video, email, Internet and data transmissions from
multiple communications networks. Visit us at our website
www.verint.com. Note: Certain statements concerning Verint�s future
revenues, earnings per share, results or prospects are
�forward-looking statements� under the Private Securities
Litigation Reform Act of 1995. There can be no assurances that
forward-looking statements will be achieved, and actual results
could differ materially from forecasts and estimates. Important
risks, uncertainties and other important factors that could cause
actual results to differ materially include, among others:
potential impact on Verint�s financial results as a result of
Comverse�s creation of a special committee of the Board of
Directors of Comverse to review matters relating to grants of
Comverse stock options, including but not limited to, the accuracy
of the stated dates of Comverse option grants and whether Comverse
followed all of its proper corporate procedures, as well as certain
other accounting matters, and the results of the Comverse special
committee�s review; the effect of Verint's failure to timely file
all required reports under the Securities Exchange Act of 1934, and
the resultant likely delisting of Verint's common stock on NASDAQ;
the impact of governmental inquiries arising out of or related to
option grants or other matters; introducing quality products on a
timely basis that satisfy customer requirements and achieve market
acceptance; lengthy and variable sales cycles create difficulty in
forecasting the timing of revenue; integrating the business and
personnel of Mercom and CM Insight; risks associated with
significant foreign operations, including fluctuations in foreign
currency exchange rates; aggressive competition in all of Verint�s
markets, which creates pricing pressure; integrating the business
and personnel of MultiVision, including implementation of adequate
internal controls; managing our expansion in the Asia Pacific
region; risks that Verint�s intellectual property rights may not be
adequate to protect its business or that others may claim that
Verint infringes upon their intellectual property rights; risks
associated with integrating the business and employees of Opus and
RP Sicherheissysteme GMBH; risks associated with Verint�s ability
to retain existing personnel and recruit and retain qualified
personnel in all geographies in which Verint operates; decline in
information technology spending; changes in the demand for Verint�s
products; challenges in increasing gross margins; risks associated
with changes in the competitive or regulatory environment in which
Verint operates; dependence on government contracts; expected
increase in Verint�s effective tax rate; perception that Verint
improperly handles sensitive or confidential information; inability
to maintain relationships with value added resellers and systems
integrators; difficulty of improving Verint�s infrastructure in
order to be able to continue to grow; risks associated with
Comverse Technology, Inc. controlling Verint�s business and
affairs; and other risks described in filings with the Securities
and Exchange Commission. All documents are available through the
SEC�s Electronic Data Gathering Analysis and Retrieval system
(EDGAR) at www.sec.gov or from Verint�s website at www.verint.com.
Verint makes no commitment to revise or update any forward-looking
statements. Verint, the Verint word mark, Actionable Intelligence,
Powering Actionable Intelligence, STAR-GATE, RELIANT, NEXTIVA,
LORONIX, SmartSight, Lanex and ULTRA are trademarks of Verint
Systems Inc. Other names may be trademarks of their respective
owner. Verint Systems Inc. (NASDAQ: VRNT), a leading provider of
analytic software-based solutions for security and business
intelligence, today announced that Provident Bank, headquartered in
Baltimore, MD, has deployed Verint's Networked Video solution to
enhance security at approximately 150 branch locations and 250
Automated Teller Machines (ATMs) located throughout Maryland,
Washington D.C. and Central Virginia. With more than $6.4 billion
in assets, Provident Bank is the second largest independent bank
headquartered in Maryland. Since 1886, Provident Bank has provided
traditional financial services to retail banking customers, and
offered related financial services through wholly owned
subsidiaries, including securities brokerage, investment management
and related insurance services through the Provident Investment
Center. Verint's Networked Video solution, deployed over the past
year, enables Provident Bank to centrally monitor activities at its
retail branches, in-store retail locations and ATMs and to
distribute video intelligence across the Provident Bank intranet to
authorized security personnel to enhance fraud prevention and
investigations and to help resolve customer disputes in a timely
manner. "For more than 120 years, Provident Bank has provided a
safe and convenient service experience to our customers throughout
the Mid-Atlantic region," said Michael Collins, Security Manager,
Provident Bank. "Verint's solutions and their deep understanding of
the unique security challenges that face the banking industry will
help us to maintain this tradition of providing secure and flexible
financial solutions that fit the lives of our customers." Verint's
Networked Video Solutions enable organizations of all sizes, from
small and mid-sized enterprises to major government and commercial
organizations, to enhance the security of their facilities and
infrastructure and the performance of their business operations by
networking video across multiple locations and applying advanced
content analytics to extract actionable intelligence from live and
stored video. By alerting security personnel to potential security
threats, Nextiva helps organizations prevent security breaches,
improve response time and enhance operational efficiency. "Verint
has a significant presence in the retail banking market and we are
pleased to help Provident Bank effectively address their security
requirements," said Dan Bodner, Verint's CEO and President. "Our
networked video solutions are designed to provide multi-site
institutions with the actionable intelligence they need to maintain
secure operations, prevent fraud and rapidly resolve internal
investigations." About Verint Systems Inc. Verint Systems Inc.,
headquartered in Melville, New York, is a leading provider of
analytic software-based solutions for security and business
intelligence. Verint software, which is used by over 1,000
organizations in over 50 countries worldwide, generates actionable
intelligence through the collection, retention and analysis of
voice, fax, video, email, Internet and data transmissions from
multiple communications networks. Visit us at our website
www.verint.com. Note: Certain statements concerning Verint's future
revenues, earnings per share, results or prospects are
"forward-looking statements" under the Private Securities
Litigation Reform Act of 1995. There can be no assurances that
forward-looking statements will be achieved, and actual results
could differ materially from forecasts and estimates. Important
risks, uncertainties and other important factors that could cause
actual results to differ materially include, among others:
potential impact on Verint's financial results as a result of
Comverse's creation of a special committee of the Board of
Directors of Comverse to review matters relating to grants of
Comverse stock options, including but not limited to, the accuracy
of the stated dates of Comverse option grants and whether Comverse
followed all of its proper corporate procedures, as well as certain
other accounting matters, and the results of the Comverse special
committee's review; the effect of Verint's failure to timely file
all required reports under the Securities Exchange Act of 1934, and
the resultant likely delisting of Verint's common stock on NASDAQ;
the impact of governmental inquiries arising out of or related to
option grants or other matters; introducing quality products on a
timely basis that satisfy customer requirements and achieve market
acceptance; lengthy and variable sales cycles create difficulty in
forecasting the timing of revenue; integrating the business and
personnel of Mercom and CM Insight; risks associated with
significant foreign operations, including fluctuations in foreign
currency exchange rates; aggressive competition in all of Verint's
markets, which creates pricing pressure; integrating the business
and personnel of MultiVision, including implementation of adequate
internal controls; managing our expansion in the Asia Pacific
region; risks that Verint's intellectual property rights may not be
adequate to protect its business or that others may claim that
Verint infringes upon their intellectual property rights; risks
associated with integrating the business and employees of Opus and
RP Sicherheissysteme GMBH; risks associated with Verint's ability
to retain existing personnel and recruit and retain qualified
personnel in all geographies in which Verint operates; decline in
information technology spending; changes in the demand for Verint's
products; challenges in increasing gross margins; risks associated
with changes in the competitive or regulatory environment in which
Verint operates; dependence on government contracts; expected
increase in Verint's effective tax rate; perception that Verint
improperly handles sensitive or confidential information; inability
to maintain relationships with value added resellers and systems
integrators; difficulty of improving Verint's infrastructure in
order to be able to continue to grow; risks associated with
Comverse Technology, Inc. controlling Verint's business and
affairs; and other risks described in filings with the Securities
and Exchange Commission. All documents are available through the
SEC's Electronic Data Gathering Analysis and Retrieval system
(EDGAR) at www.sec.gov or from Verint's website at www.verint.com.
Verint makes no commitment to revise or update any forward-looking
statements. Verint, the Verint word mark, Actionable Intelligence,
Powering Actionable Intelligence, STAR-GATE, RELIANT, NEXTIVA,
LORONIX, SmartSight, Lanex and ULTRA are trademarks of Verint
Systems Inc. Other names may be trademarks of their respective
owner.
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