EDGE 2015 is starting in

Find out more EDGE 2015
Menu
IBM clinches five-year multi-million dollar Veda deal

IBM clinches five-year multi-million dollar Veda deal

The agreement extends Veda's existing outsourcing relationship with IBM

IBM has signed a five-year multi-million dollar agreement credit information provider, Veda, in A/NZ.

The agreement extends Veda's existing strategic outsourcing relationship with IBM.

Veda chief executive, Nerida Caesar, said the contract reflected the deep partnership between IBM and Veda, and the value that the partnership had delivered to our business.

"Being a business based on using data and analytics to provide insights, we are constantly looking at the best way to manage and deliver the most accurate insights to our clients," he said.

"To this end, we have already deployed one of our systems that supports comprehensive credit reporting (CCR) on IBM’s flexible infrastructure.” According to a company statement, this extended agreement assists Veda’s growth strategy, as it provides a scalable solution to support its introduction of CCR products in response to the credit industry's most significant reform in recent times.

Included as part of the amendments to the Privacy Act 1988, CCR requires five additional data fields in order to provide a more complete picture of a consumer’s credit activity. Veda expects that the volume and mix of data relating to credit reporting will grow rapidly as companies realise the benefits of CCR.

This prompted Veda to expand its relationship with IBM, to support the expected growth of data and analysis that CCR will bring. Veda’s customers range from financial services organisations, utility companies and telecommunications providers, with its core product offering being the provision of credit reports in relation to individuals and businesses.

Read more: Privacy changes: One in three SMEs now risk $1.7 million fines

It carries credit information on 20 million individuals and 5.7 million commercial entities in Australia and New Zealand. IBM general manager, A/NZ, Jeffrey Rhoda, said the company was excited to support Veda as it navigated through a significant time of transformation within the credit reporting industry.

"The ability to support clients during phases of critical growth in a complex business environment is what differentiates IBM as the leading infrastructure and cloud service provider. Veda listed on the Australian Stock Exchange (ASX) in December last year.

The IBM project will be a key strategic pillar to support Veda’s growth plans, according to a statement.

Read more: Top three tips for a "new era" of Australian privacy: Hitachi

Read More:

EDGE 2015:: For all the latest on EDGE 2015 including the keynote speakers visit the EDGE mini-site now

Follow Us

Join the ARN newsletter!

Error: Please check your email address.

Tags Nerida CaesarVeda chief executiveprivacy actcomprehensive credit reporting

Upcoming

Slideshows

In Pictures: 7 things we hate about Twitter

In Pictures: 7 things we hate about Twitter

You probably either love Twitter for its quirkiness and brevity or see it as a pointless waste of time. After nearly a decade on the social scene, Twitter still needs to improve its user experience and fill in notable gaps in the service. These seven problems are long overdue for a fix.

In Pictures: 7 things we hate about Twitter
IN PICTURES: EDGE 2015 - Sponsor Briefing

IN PICTURES: EDGE 2015 - Sponsor Briefing

With EDGE 2015 rapidly approaching, ARN and Reseller News NZ held a Sponsors Briefing where ARN publisher and president, Susan Searle, and Events Manager, Alexandra West, ran through the considerable logistics in detail. Attendees then enjoyed some splendid canapes and drinks. EDGE is designed to bring the A/NZ channel together in a collaborative and educational environment. Themed around channel channel leadership, EDGE will be held at the Sheraton Mirage, Port Douglas, July 20-23. Photos by MIKE GEE.

IN PICTURES: EDGE 2015 - Sponsor Briefing
In Pictures: Robots that cook, clean, sing and dance

In Pictures: Robots that cook, clean, sing and dance

Cooking, learning language and doing the laundry are a few of the human skills demonstrated by.real humanoid bots featured in the National Geographic movie Robots.

In Pictures: Robots that cook, clean, sing and dance

iasset.com is a channel management ecosystem that automates all major aspects of the entire sales, marketing and service process, including data tracking, integrated learning, knowledge management and product lifecycle management.

Show Comments