Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Technology supports $130 billion Mortgage Book

JADE SOFTWARE CORPORATION NEWS RELEASE

Christchurch, 4 August 2006:

Jade technology supports $130 billion Mortgage Book in the United Kingdom

Jade Software Corporation, the New Zealand information services provider, today announced that JADE technology now supports a mortgage book of nearly £44 billion (over NZD$130 billion at present exchange rate) in the United Kingdom.

This £44 billion well exceeds the total value of residential mortgage lending by all the registered banks in New Zealand, which on 31 July 2006 stood at $120,097 million.

Managing Director of Jade Software, Dr. Rod Carr said; “Our United Kingdom client the Skipton Group, recently announced its half-year result to 30 June 2006. The group comprises the Skipton Building Society and its 17 subsidiaries. One of the highlights of the announcement was that the Skipton Group is now managing mortgages of £44 billion, and mortgages and savings in excess of £50 billion.”

The Skipton Group, a cornerstone shareholder in Jade Software Corporation, reported that its assets grew 14.3 per cent over the last 12 months to £9.9 billion. On a year-to-year basis, the value of its mortgage assets increased 14.6 per cent and the group produced a pre-tax profit of £73.4 million, up from £38 million. Gross mortgage applications for the first half of 2006 totalled £1.3 billion, better than any previous half-year period.

Skipton Building Society is the 7th largest building society in the United Kingdom; it has a 20 year association with Jade Software Corporation. The building society was the first financial institution to base its entire operation on a single technology platform and today all its mission critical business systems run on the JADE technology platform. These include Skipton’s mortgage and investment administration, branch automation and call centre systems.

David Cutter, Skipton Building Society’s Operations Director attributes its technology partner Jade Software Corporation as a key factor in reducing costs and helping Skipton provide services that retain existing customers and generate new sales.

“The scale of Skipton’s operation has enabled Jade to demonstrate the depth of our technology’s capability. The Skipton Group is a successful and substantial enterprise. Our association with them has validated Jade’s technology and capabilities,” Dr Carr said.

~ ENDS ~

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

ScoopPro: Helping The Education Sector Get More Out Of Scoop

The ScoopPro professional license includes a suite of useful information tools for professional users of Scoop including some specifically for those in the education sector to make your Scoop experience better. More>>

Big Tax Bill Due: Destiny Church Charities Deregistered

The independent Charities Registration Board has decided to remove Destiny International Trust and Te Hahi o Nga Matamua Holdings Limited from the Charities Register on 20 December 2017 because of the charities’ persistent failure to meet their annual return obligations. More>>

57 Million Users' Data: Uber Breach "Utterly Preventatable"

Cybersecurity leader Centrify says the Uber data breach of 57 million customer and driver records - which the ride-hailing company hid for more than a year - was “utterly preventable”. More>>

Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>

Having A Cow? Dairy Product Prices Slide For Fourth Straight Auction

Dairy product prices fell at the Global Dairy Trade auction, retreating for the fourth straight auction amid signs of increased production... Whole milk powder fell 2.7 percent to US$2,778 a tonne. More>>

ALSO:

Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>

ALSO:

Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>

ALSO:

 
 
 
 
 
 
 
 
  • Bill Bennett on Tech