Broker signs banks

TWO banks have signed deals with the Hartley-Poynton e-commerce arm, JDV, this week.

This technology division of HP will provide an automated lending software solution for St George’s Bank, one of Australia’s top five banks, and in a separate deal JDV will provide its Mapper product, a powerful data translation engine that integrates multiple data feeds and consolidates information, to Macquarie Bank’s Financial Services Group. (This provides a full client portfolio on the retail advisor’s desktop.

Head of JDV, Campbell Johnston, said the agreements demonstrated his company’s growing stature as one of Australia’s leading providers of technology solutions.

JDV implements e-commerce and outsourcing solutions to financial services. It is a leading provider of end-to-end branded online solutions including share trading, unit trust and bond trading, international investments, data integration and margin lending.

“Our goal is to provide a full range of technology solutions to the financial services sector and the agreements with St George and Macquarie are examples of what we can provide” he said.

“JDV has already gained clients of a high calibre, such as Charles Schwab Australia, Suncorp Metway, AMP, BankWest, BT Portfolio Services, and Your Prosperity.”

“Our position looks strong as negotiations continue with other key players in the market.”

St George’s Executive Manager of Margin Lending, Andrew Black, said his organisation had spent six months researching the market before signing with JDV.

He said the margin lending market had grown from $2.7 billion in 1998 to an estimated $6.7 billion this year.

“St George is committed to becoming the leading wealth management solutions provider,” Mr Black said.

While margin lending has eased in recent months due to decreased market activity, he anticipated that the market would improve and St George would be in a position to take advantage of it.

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