NCR Corp. has acquired StopLift Checkout Vision Systems (November 6, 2018), a company that uses artificial intelligence to help retailers detect fraud at self-checkout counters, for an undisclosed amount.
Boston Globe PM newsletter – NCR acquisition, 11-6-18
NCR said on Tuesday that it’s buying StopLift Checkout Vision Systems, makers of computer vision systems for retail point of sale. StopLift’s artificial intelligence technology detects unusual and possibly fraudulent behavior in self-checkout systems. NCR, a predominate maker of point-of-sale terminals, plans to integrate StopLift’s AI capabilities into its POS portfolio. StopLift’s artificial intelligence technology detects unusual and possibly fraudulent behavior in self-checkout systems.
Read SourceMalay Kundu, Founder/CEO of StopLift Checkout Vision Systems, talks with hosts Peter Barnes and Janet Wu about his artificial intelligence technology that detects unscanned items at manned and self-checkouts worldwide. He also discusses the new Self-Checkout Accelerator, which reduces by 90% the self-checkout’s annoying transaction interventions.
Reporter Sophie Elsworth explores new technology being piloted in Australia, which can distinguish when a customer scans items incorrectly at the checkout.
The technology has been created by US company StopLift and has been in testing phase since starting late last year.
Chief Executive Officer Malay Kundu said it had so far “found a fair amount of theft and loss at both manned and self-checkout consistently across various locations in Australia.”
“Our algorithms are analysing that material continuously so it’s able to watch all of that video footage and compare that with transaction data,’’ he said.
The vision is monitored using artificial intelligence to catch out thieves.
Alerts are also sent to staff monitoring self-serve check-outs via a mobile device when customers are incorrectly scanning items or not scanning them at all.
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Malay Kundu founded and serves as CEO for StopLift Checkout Vision Systems, which has developed checkout vision software that automatically detects unscanned merchandise at the manned and self-checkouts at supermarkets and retailers around the world. It analyzes regular CCTV video to detect various forms of theft, training error, and operational analytics.
Read Source“For now, self-service technology is multiplying the opportunity for dishonesty, rather than eliminating it.” […] “Malay Kundu, who developed a facial recognition system to spot terrorists in airports now uses similar technology to catch a growing contingent of self-checkout thieves.”
Read PDF Read SourceThe holidays are upon us which means fun, food, and shopping. A big item to buy at the supermarket is turkeys and a growing trend involves not buying them at all.
“Sweethearting” is when a cashier sneaks a turkey through the checkout for a shopper without actually scanning the item.
StopLift is a company implementing new technology to stop this illegal activity.
Tara Jankway chatted with founder Malay Kundu about StopLift’s strategy to save the turkeys.
Read SourceEven that Thanksgiving turkey is costing supermarkets – and you – money. Who’s watching those overhead cameras at the checkout? Supermarkets and retailers have implemented StopLift, whose technology detects unpaid merchandise on the conveyor belt, in the shopping cart, or reusable bag at both the manned and self-checkout.
Read SourceOne vendor has refined video analytics for retail outlets to the point where it can flag up specific behaviour around scan avoidance, at manned and self-checkout areas, with a high degree of accuracy. Interestingly, Malay Kundu, from StopLift Checkout Vision Systems – the leading player in this field – cut his teeth in facial recognition systems in airports and says that StopLift itself actually grew out of a Harvard Business School research study ‘Project StopLift’ on ‘Retail Loss Prevention’.
Read SourceRetail chains worldwide are installing StopLift Checkout Vision Systems’ Scan-It-All video recognition technology to detect scan avoidance incidents at both the manned and self-checkout. From retailers on four continents, including Tesco in the UK, StopLift has already detected and confirmed more than 1.7 million incidents at thousands of checkouts.
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