NM Security Solutions Inc, a subsidiary of the Neal and Massy Group of Companies, is to provide local commercial banks with a new range of service and security facilities including the replenishment of ATM machines.
Neal and Massy Chief Executive Officer Deo Persaud told Stabroek Business that NM Security Solutions has already begun to provide its ATM replenishment service and will be seeking to provide additional services to the local banking community “some of which are being offered locally for the first time.”
Persaud, who declined to disclose details of the new services being offered by NM Security Solutions “for security reasons” said that the new ATM replenishment service is consistent with the operating practices of banks abroad, including other Caribbean territories where banking institutions contract out those services to institutions that are equipped with the resources to provide them.
According to Persaud the services being offered by NM Security Solutions seeks to target the business community, particularly the financial sector, in order to raise the level of security associated with financial and business transactions.
“Our objective is to take security as it relates to the financial institutions to the level that currently exists in Barbados and Trinidad and Tobago and other territories,” Persaud said.
The disclosure by the Neal and Massy Guyana CEO comes amidst security concerns that have been expressed by the local business community in the face of the rising crime situation. Persaud said that the new range of services which NM Security Solutions seeks to offer and which will included vaulting for financial institutions seeks to reduce the risks for the company’s clients.
Critics of some private security services in Guyana have pointed to their lack of resources beyond security guards which they say have now become inadequate to respond to the magnitude of the crime challenge. Persaud said that NM Security Solutions was seeking to offer a more modern and appropriate combination of electronic and guarding security services. “We are arriving at a point where we plan to engage the business community more aggressively about the range of security products that we offer,” Persaud said.
NM Security Solutions is the most recent addition to the Neal and Massy Group in Guyana. In May 2006 Neal and Massy upped its 51 per cent interest in Securicor International to 100 per cent ownership of the company.
