AITX Inks Bank MSA & Receives a 6 Unit ROSA Expansion Order Through its Subsidiary Robotic Assistance Devices

A pilot program began during the summer of 2023 with 1 ROSA unit positioned to protect one of the client’s office’s parking lots, while a second ROSA secured an ATM vestibule at a selected bank branch. The deployments were in different states to help demonstrate RAD’s capability for multi-state roll-out and support. This expansion order follows the successful pilot-to-full deployment trajectory, reflecting the security services industry’s growing confidence in RAD’s technology. Additional details regarding the pilot program can be found in a press release dated May 8, 2023: AITX’s Subsidiary, Robotic Assistance Devices, Receives ROSA Order from Regional Bank Group.

“This client expansion represents a significant achievement for RAD,” commented Steve Reinharz, who serves as both the CEO of AITX and RAD. “It is gratifying to see a prominent banking group recognize the outstanding performance, security, and cost-saving advantages that ROSA offers after the extensive testing they completed. We look forward to successful phase 1 roll out and further potential expansion throughout regional and national banks. The potential opportunity is incredibly exciting.”

Furthermore, the Company noted that discussions continue regarding future expansion orders with an expectation that this year the roll out will be to 22 branches.

Mark Folmer, CPP, PSP, FSyI, President of RAD added, “Nice wins like expansion order this take the amount of time that they take, but it’s worth the wait and the effort. This order could help convince a few other banks in the RAD sales pipeline to share in the enthusiasm this client has for ROSA.”

According to a study published by Pinkerton, there are approximately 400,000 ATMs in the U.S. Although these machines offer convenience, they also introduce an elevated level of vulnerability for bank customers, thereby presenting an additional dimension of risk that financial institutions must consider. Notably, incidents of ATM-related crimes in the U.S. surged by a staggering 600% between 2019 and 2020. The prevalent forms of these crimes encompass physical assaults on the ATMs themselves, the illicit installation of card skimming devices to pilfer customer data, and personal assaults occurring at the ATM locations.

ROSA is a multiple award-winning, compact, self-contained, portable, security and communication solution that can be installed and activated in about 15 minutes. ROSA’s AI-driven security analytics include human, firearm, vehicle detection, license plate recognition, responsive digital signage and audio messaging, and complete integration with RAD’s software suite notification and autonomous response library. Two-way communication is optimized for cellular, including live video from ROSA’s high-resolution, full-color, always-on cameras. RAD has published five Case Studies detailing how ROSA has helped eliminate instances of theft, trespassing and loitering at hospital campuses, multi-family communities, car rental locations and construction sites across the country.