Middle East deal fuels Wynyard shares

JOSH MARTIN
Last updated 13:01 07/01/2014
Craig Richardson, Wynard Group
DEAN KOZANIC/Fairfax NZ

EYING GROWTH: Wynyard Group boss Craig Richardson says the focus on crime analytics is paying dividends.

Relevant offers

Industries

Parking app hopes to prevent crimes against women Fresh push to get more women into IT No visitor levy but other sweeteners possible - Steven Joyce Union pushes for tighter lift safety rules following death of Wellington man Brendon Scheib Building consents top $2 billion for the first time 'Perception' the problem as super changes bring ageism into sharper focus Chart of the day: Sharp drop in value of exports from Port Taranaki Wellington's Amora Hotel says it is closing for up to 12 months TVNZ outlines newsroom cuts to staff No fine but demolition company director pleads guilty over asbestos danger

Shares in security software company Wynyard Group have surged after the company landed a new contract in the Middle East.

Wynyard shares gained 16 per cent to an all-time high of $1.38 this morning after it announced a contract for its anti-money laundering software subscription with GCC Exchange, a fast-growing money exchange based in the United Arab Emirates (UAE).

Wynyard managing director Craig Richardson said the company would help GCC meet tougher regulations to better monitor cashflows through the UAE financial system.

"Wynyard is experiencing growing demand for its advanced crime analytics Software-as-a-Service solutions, particularly in the United Kingdom, the Middle East and New Zealand," he said.

GCC said regulators were introducing stricter guidelines whereby financial service providers must be able to trace criminal transactions like money laundering and funding terrorist groups.

GCC general manager Mukesh Himatlal said the partnership with Wynyard guaranteed GCC the top tools in the industry to protect its business and customers from financial crime.

Wynyard employs 120 people.

The NZX-listed company signed a deal to provide criminal analytic software for the Thai Government last month.

Ad Feedback

- Fairfax Media

Special offers

Featured Promotions

Sponsored Content