Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today that its U.S. Information Products business has released InterChange, a new information solution providing secure web access to a subset of property information which has been pre-qualified for automatic use directly in the workflow of property insurers and mortgage lenders. With over 10 million households in the U.S. moving homes annually, property insurers and mortgage lenders need to ensure that the property information applied to insurance and mortgage transactions is adequately screened before being applied in the workflow. Although multiple sources of property information are available today for just about all properties across the nation, the application of this information in the workflow is often still subject to human scrutiny regarding the completeness, consistency, and quality of the information.
InterChange is unique in that it draws on MDA's combined suite of property information sources in the U.S. that at close to 200 million records of various kinds constitutes one of the most extensive and richest collections of property information in existence today. Through proprietary screening, scoring and amalgamation techniques applied to these sources "pre-qualified" records have now been generated for approximately one third of all single family dwellings across the U.S., and this initial data base is expanded and updated continuously as new property information becomes available. InterChange operates as a secure website through which these pre-qualified records can be accessed electronically and applied directly in the property insurance or mortgage processing workflow.
InterChange is the first product brought to market by MDA that combines the technology and data capabilities of Marshall & Swift / Boeckh and DataQuick, two members of MDA's Information Products business in the U.S.
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 3,000 people in locations across the United States, the United Kingdom, and Canada. The Company's common shares trade on the Toronto Stock Exchange under the symbol TSX:MDA.
This release contains forward-looking statements and information, which reflect the current view of MacDonald, Dettwiler and Associates Ltd. with respect to future events and financial performance. Any such forward-looking statements are subject to risks and uncertainties and MDA's actual results of operations could differ materially from historical results or current expectations. Additional information on these and other potential factors that could affect MDA's financial results are detailed in documents filed from time to time with the applicable Canadian securities regulatory authorities.
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.