To offer the feature across 22 prime properties in the initial stage of its launch
Bengaluru, April 27, 2018: In a development that further bolsters its leadership in the realm of real estate technology, CoLive, the leading platform to rent branded and serviced homes, has developed a new cutting-edge technology, called Facial Recognition Access Management Engine (FRAME). FRAME, which consists of Door Access Control Engine mechanism and BlackBox key management mechanism, will enable tenants residing at a CoLive property, or other authorised personnel, to gain access to the property only if his/her face matches the system data using IOT & AI. CoLive has also recently filed a patent for FRAME (patent number 201841013474), which will enable it to protect this advanced property management solution.
During the first phase of its launch, the FRAME feature would be operational at 20 select prime properties managed by CoLive before rolling out to all its properties. Tenants can simply register themselves in the system by clicking a selfie through the CoLive app, following which they can gain access to the property without having to swipe a key card anymore. With FRAME, there is also no need for a security guard at the property. The FRAME system tracks visitors, tenants, and staff when they leave and enter the premises, and stops anyone that it does not recognise from entering the property. This way, the tenants do not require duplicate keys, and visitors will only be able to enter the building if the tenants allow them in.
Commenting on the launch, Suresh Rangarajan, Founder and CEO – CoLive, “FRAME eliminates one of the biggest challenges faced by the real estate industry in terms of key management of unoccupied apartments. The technology shall enable sales, check-in and maintenance seamlessly without human interface thus reducing operational expenses. FRAME allows us to remotely manage our property access and key management system. We have filed for a patent for this technology and are confident that our tech-driven access solution will help us run this real estate-hospitality business far more efficiently.”
CoLive is currently operating in Bangalore, Chennai, Vellore, Coimbatore, Thanjavur, and Ahmedabad. Over the next three years, the company aims to expand its presence to top metros and 25 university towns and scale up its inventory to include a total of 1 million beds.
Corporate Comm India(CCI Newswire)
