Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today that BC OnLine is introducing a new service to the financial sector. Banks and credit unions will now be able to electronically access the Personal Property Registry for searches and registrations directly from within their loan origination systems. This service will accelerate the processing of loans secured by personal property (i.e., non real estate, such as cars and boats) as well as the registration of encumbrances against personal property.
The Personal Property Registry of British Columbia is a database of formally registered charges such as liens, security interests, and encumbrances filed against personal property, whether it belongs to a corporation or an individual. These security interests are different from real estate mortgages, which are registered at the Land Titles Office.
This new service is being offered through a strategic business alliance between MDA and Atsource Solutions Inc., a provider of public registry software integration products that deliver real time, value added search and registration capabilities.
BC OnLine is an e-government service operated by MDA in a public-private partnership with the province of B.C. that provides online access to authoritative information products derived from provincial government databases. Over 1.3 million searches and registrations with the British Columbia Personal Property Registry are conducted annually through BC Online
About MacDonald, Dettwiler and Associates Ltd. (MDA)
MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide.
Focused on markets and customers with strong repeat business potential, MDA delivers a broad spectrum of earth and space based information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.
MDA employs more than 2,500 people in locations across the United States, Europe, and Canada. The Company's common shares trade on the Toronto Stock Exchange under the symbol TSX:MDA.
About Atsource Solutions Inc.
Atsource Solutions Inc. provides sophisticated, cost effective public registry software integration products that deliver real time, value added search and registration capability to customer desktops at a fraction of the cost of competitor's solutions. Ease of integration combined with top level security are the hallmarks of Atsource electronic products.
Principals Don Markley and Eric Kehler combined have over 25 years of experience delivering search and registration solutions across Canada.