26 Mar 2012

Jade hopes to benefit from tougher global financial rules

7:54 am on 26 March 2012

Technology firm Jade Corporation is hoping to benefit from a growing awareness among governments and firms to protect themselves from crime, corruption and threats.

The market is estimated to be worth $US4.5 billion and growing at a double digit rate, and Jade, which is already involved in it, expects to constitute about half its turnover by 2013.

It is launching a separate business, Wynyard Group, which will incorporate its current risk management and investigations arms, with new products that scour large amounts of data for patterns to fight money-laundering and fraud.

With the introduction of tougher global financial rules, Jade chief executive Craig Richardson says the new business should benefit its existing 2000 clients, which include government organisations, banks and police, as well as new users.