Veda Advantage and VortexDNA Announce Strategic Relationship

Press Release, Veda Advantage, Auckland, NZ January 18, 2010. Two of the country's high-tech data and analytics companies are joining forces to develop new predictive products targeting clients in New Zealand and offshore.

New Zealand's leading credit bureau, Veda Advantage, today announced the formation of a strategic relationship with Christchurch-based predictive data company VortexDNA.

The companies plan to jointly develop a range of data products for Veda Advantage clients.

Veda Advantage Managing Director John Roberts says "our customers tell us they need more predictive capacity across a range of business needs. Working with VortexDNA will help us respond to these needs with a range of predictive tools."

Precise details of the first products are yet to be disclosed but will focus on the needs of finance-related companies and organisations.

"The recent credit crisis has highlighted ways companies can improve their operations in terms of credit checks, risk management, fraud, bankruptcy and other factors. Our new products will facilitate these improvements," Mr Roberts says.

VortexDNA CEO Branton Kenton-Dau says "Veda Advantage has a track record in bringing innovative products to the market. We are delighted to have the opportunity to put the predictive power of VortexDNA behind these new services."

VortexDNA clients include three of the top 10 auto insurers in the United States as well as established relationships with telecommunications companies in Australia and China.

The jointly developed products are expected to be available in April-June 2010. Once launched in New Zealand, similar products will be offered to Veda Advantage clients in Singapore, Malaysia, Saudi Arabia and other Asian and Middle East markets.

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ABOUT VEDA ADVANTAGE

Veda Advantage facilitates credit reference checks for New Zealand’s major banks and lenders, and underpins the ability of consumers to exercise choice in relation to consumer credit products. Veda Advantage holds files on around 97.5% of the individual credit-active population and 100% of the commercial credit-active population in New Zealand.

You can apply for a copy of your credit file at My Credit File or by calling 0800 692 733. A $23 express delivery service fee is payable if the file is needed urgently, or otherwise the file will be available within 10 working days.

CONTACT:
Leigh Pearson External Relations Advisor
+64 4 471 1962
+64 27 489 0606