Facial recognition and a ‘self-help’ approach to crime prevention can save businesses and help protect the public, according to Nick Fisher, the new CEO of Facewatch.
The crime reporting software firm reports new investment after the completion of a fund raise. Facewatch says that it’s now poised to roll-out its cloud-based facial recognition system in retail and other business locations in the UK.
Fisher is a former senior executive at Phones 4U and Dixons Retail. He’s among the speakers at the next Security TWENTY 17 conference, at a new venue, the Majestic Hotel in Harrogate, on Tuesday morning, July 4. A bumper 90 exhibitors are displaying their products and services at an accompanying exhibition. For more details and to register to attend the free event, visit https://professionalsecurity.co.uk/security-events-and-conferences/security-twenty-home/north/.
He said: “Businesses are continually fighting a losing battle against low-level crimes which police are hard-pressed to investigate and solve due to limited resources being needed for major crimes. Our work with businesses is showing that just 10 per cent of low-level crime is reported and only five per cent is solved, which means that businesses of all sizes are paying a high price for rising petty criminal activity, and there is growing apathy among victims.
“In a wider context, we are living with the threat of terrorist attacks, and so more locations where facial recognition is in operation can provide additional intelligence in support of our country’s overall security ecosystem.”
The solution, he believes, is for businesses to be more proactive in deterring and preventing crime by using technology. “Businesses need to adopt a self-help approach with the right tools and support to make cost-effective changes and re-position how they protect their customers, employees and profits from crime,” Fisher added.
Fisher, who was working as a business consultant to Facewatch prior to taking up the CEO role, has led the funding round to bring additional investment of £1.41 million into the business, bringing the total funding to date to £7 million.
The latest investment round will provide working capital to help fund the roll-out of facial recognition and other services with partners, including Stanley Security and NEC NeoFace Watch.
“After a short time looking at the business model, the relationships and the future strategy and market opportunity with developments such as facial recognition, accepting an invitation to lead Facewatch was a hugely exciting proposition for me,” said Fisher.
Simon Gordon, founder and Chairman said: “I am delighted and proud that we have someone of Nick’s calibre running Facewatch, with the team he brings with him, and am looking forward to supporting him as he takes Facewatch to the next and most exciting stage on our journey.”
About the product
Facewatch is a secure, cloud-based platform that enables businesses and police to capture and share CCTV evidence, offender images and intelligence with each other. The software captures and shares algorithm versions of cropped facial images securely to the cloud, where they are analysed and compared to watch lists of known offenders and persons of interest within seconds. When there is a match, an alert is sent back to the business.
