IVIS Secures Letter of Intent from Manappuram Finance for AI-Powered E-Surveillance across 1,000+ Branches
IVIS International Private Limited, a wholly owned subsidiary of Magellanic Cloud Limited, has secured a Letter of Intent (LOI) from Manappuram Finance Limited. The LOI pertains to the outsourced Command & Control Centre (CCC) e-surveillance services for Manappuram's extensive network.
Under the proposed engagement, IVIS International Private Limited is slated to manage the supply, installation, commissioning, and centralized maintenance of security infrastructure across the financial institution’s branch network. The solution, which utilizes an AI-powered Command & Control Centre platform, is designed to provide intelligent surveillance, real-time event monitoring, automated alert handling and escalation, centralized branch visibility, and vault operations monitoring.
The deployment process is proposed to be executed in a phased manner, with the scope potentially covering approximately 1,000+ branches, subject to the execution of definitive agreements and the issuance of Purchase Orders between both entities.
This potential engagement represents a significant development for IVIS, as it involves one of the country's largest gold loan institutions. The project highlights growing industry confidence in IVIS’ capabilities regarding AI-enabled surveillance and centralized security management. For Magellanic Cloud Limited, the engagement strengthens its presence within the BFSI segment, where proactive threat detection and real-time operational visibility are increasingly crucial elements of enterprise security.
The LOI explicitly states that it is non-binding and does not constitute a contractual or financial commitment. The final commercial terms, project timelines, and overall contract value will be determined upon the execution of definitive agreements and receipt of the corresponding Purchase Orders.
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