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iVIS boosts ICICI Bank’s operations with its e-surveillance security models

By Gloria Mathias

November 28, 2023

  • AI
  • Artificial Intelligence Machine Learning
  • Banking technology
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ICICI Bank, Digital eRupee, Digital Currency, e-wallets, RBI, QR Payments, QR Code Merchant Payments, Fintech News, Fintech India, Fintech news, ICICI Bank, Banking Technology, Payments Solutions, iVIS, RegTech, RiskTech, Cybersecurity, Surveillance, Facial Recognition, Cloud Security, India, Mumbai news iVIS a subsidiary of Magellanic Cloud, has announced its empanelment with ICICI Bank for the delivery of e-surveillance services across branches.

This strategic collaboration enables iVIS to offer AI/ML and IoT technology-enabled e-surveillance services, which will include real-time video monitoring and recording, facial recognition, incident detection, reporting, and data analytics.

iVIS will strengthen the branch-level security operations of ICICI Bank, such as ATMs and cash counter operations, with real-time threat mitigation, remote security management, and automated response systems. iVis is skilled in its e-surveillance segment, with a centre in its Hyderabad office that oversees 20,000 ATMs and banking sites across the country.

Commenting on the empanelment, Joseph Sudheer Reddy Thumma, CEO of Magellanic Cloud, said, “The partnership between iVIS, Magellanic Cloud’s subsidiary, and ICICI Bank brings a convergence of cutting-edge technologies to the realm of advanced e-surveillance. This will ensure that clients receive the highest quality services and solutions, backed by a wealth of experience. We are thrilled to embark on this transformative journey with ICICI Bank, and we are poised to elevate the bank’s security infrastructure.”

Expressing his thoughts about the association, Murali Mohan Rachapoodi, Co-Founder of iVIS said, “iVIS a leader in e-surveillance is excited to deliver holistic security solutions that incorporate cutting-edge features such as Video analytics based remote surveillance, cloud processing and storage, operational insights, actionable intelligence complimented by alarm triggers in real-time. Our services will elevate ICICI Bank’s branch services, ensuring an enhanced experience for customers while proactively deterring suspicious activities. We are committed to providing comprehensive security solutions using our AI/ML and IoT capabilities with real-time threat mitigation.”

Magellanic Cloud has achieved fivefold growth from production to commissioning through its subsidiary iVIS by making use of technology and automation to build efficiency and scale production.

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