Anti-money laundering solution to fill gap in the market

Jade Software has launched an international security company this month to provide specialist technology to police forces and agencies around the world. According to Jade the new venture, the Wynyard Group, is the result of over two years of investment in designing specialist technology solutions which are now being marketed worldwide.

Jade says the company will focus on issues such as crime, threats to public safety and national security, as well as protection of financial institutions and critical national infrastructure.

"Organisations operate in an environment where they are tasked with detecting and protecting against more aggressive threats than ever before and in an economic climate where resources are tightly allocated," says Craig Richardson, managing director of Jade Software and CEO of Wynyard Group. "We're definitely seeing a significant need for specialist high performance technology to support the people charged with overcoming and dealing with these challenges. "Wynyard's solutions are already helping some of the world's leading security agencies, police forces, financial institutions and utilities identify risks, detect threats, investigate crimes and protect against loss."

The new company brings together two existing business units owned by Jade: Methodware and Investigator. "It's about connecting the dots and closing the gap," says the CEO. Wynyard Group has offices in New Zealand, the United Kingdom, Australia, Canada, and the US and will be leveraging off an existing customer base from Methodware, according to Jade.

Richardson says Wynyard Group has recruited both in New Zealand and internationally for research and development skills and will now be ramping up sales and marketing staff in different world locations.

"We've taken time to expand our market knowledge, experience and technology capabilities. We now have world class solutions to identify, assess and manage risks to public safety, national security, business disruption and threats to essential services. Wynyard Group is one of the few companies in the world with an extensive and growing portfolio of solutions for protecting people, institutions and critical infrastructure assets," says Richardson.

Wynyard Group is currently 100 percent owned by Jade but Richardson says it has already attracted interest from potential investors. "Jade already has a proven track record on a global stage and now interested parties see real opportunities for growth in Wynyard," he says.

The solutions provided by the new company will be sold both directly through Wynyard Group as well as through partners, including service providers.

According to Richardson, there are hundreds of organisations in New Zealand that must comply with legislation that was passed in 2009 and Wynyard Group is in a prime position to help them with that. "Most financial institutions in New Zealand are too small and would not be able to afford a service of this quality," he says.

Research and development facilities for the new company are based in Christchuch while the sales and marketing teams for New Zealand will operate out of the Auckland and Wellington offices.

Copyright © 2012 IDG Communications, Inc.

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