~ The brand unveiled ‘SmartFog’ and ‘AccuGold’ at the IIJS Tritiya, the latest innovations for financial institutions and Jeweler Community ~
Bengaluru, 20 March 2023: Godrej Security Solutions, a division of Godrej & Boyce, the flagship company of the Godrej Group, today launched their latest innovations ‘SmartFog’ and ‘AccuGold’ at Bangalore International Exhibition Centre (BIEC), Bengaluru. The company displayed and demonstrated their innovative offerings at the ‘India International Jewellery Show – IIJS Tritiya’ between March 17th – 20th. The event was organised by The Gem & Jewellery Export Promotion Council (GJEPC).
The ‘SmartFog’, is a powerful fogging security system enabled to stop intruders in their tracks, whereas the ‘AccuGold’ is equipped to determine gold purity with the highest accuracy without damaging the ornament. Both these innovations are designed to take the brand’s physical security range of products to the next level establishing them as leaders in the space of institutional security. Godrej Security Solutions is keen on transforming the financial institutions and the jewellery sector through such technology and products.
The growing presence of regional rural bank branches in rural areas and private banks targeting rural customers in Karnataka has triggered a massive growth in the state. Moreover, gold jewellery shops have a strong demand for storage of gold and other valuables i.e., safes and strong room doors. In addition to this, the late rise in crime rates has created awareness among Jewellers with respect to higher grade of safes and doors and technologically advanced security systems.
Speaking on the occasion, Mr. Pushkar Gokhale, Business Head, Godrej Security Solutions, said, “At Godrej Security Solutions we are committed towards continuously innovating and delivering effective solutions to meet the security needs of our customers. Over the last few years, we have witnessed the growth and demand for physical security products range in Karnataka and we are expanding our physical security product offerings in the institutional security segment. Currently, we are at the early adoption stage and going by the overwhelming response shown during our roadshows and demonstrations, we expect annual sales of 2500 units nationally (for both products) in next 2 years horizon and an expected growth of 25%in revenue.
Mr Gokhale further added “Karnataka is the one of the fastest-growing major state economy. It has been one of emerging markets for institutional security with equal focus from both public sector undertakings (PSU’s) and private banks in terms of branch expansion and roll-out of new banking services, witnessing one of highest GDP growth in last 3 years. Known as the Silicon Valley of India, Bangalore is the home to the most successful technology based companies. It is the centre of economic activities, a hub for HNIs and many manufacturing facilities including gold and precious stones. It is one of fastest growing branches of south zone. In order to reach-out to new segments of the market, our focus is to build a robust network of channel partners and ASPs especially in the rural part of Karnataka. We are confident that both these innovative offerings will aid the brand to successfully spearhead and play a significant role in growth across Karnataka’s fast growing physical security products category.
SmartFog is one of a kind and first ever concept to be introduced in Indian market. This revolutionary product adds extra layer of protection to the overall security ecosystem of banks and jewellers. It utilizes advanced technology to detect unauthorized attempts to open any vault or safe. It is equipped with remote cloud based application as well as wireless technology for triggering the system. When triggered, Smart Fog emits a thick fog made of concentrated liquefied glycol – harmless to humans but capable of causing panic and immobilizing the culprit owing to zero visibility, allowing ample of time to the on-site personnel to take necessary measures.
AccuGold is the most advanced and accurate gold purity-testing machine. AccuGOLD is designed to give the accurate composition of any ornament under testing, without damaging the ornament in any way, making it a perfect choice for jewellers, banks, and financial institutions who seek the highest accuracy to determine gold purity.
Secure 4.0 is a continuation of the initiative by Godrej Security Solutions to spread awareness around the change in type of threats and making users conscious about upgrading to the best security measures. The previous edition in 2021, the Secure Spaces Banking Conclave bought together banking industry stalwarts to discuss how the banking industry needs to transform their institutional security.