SaaS provider Knosys and ANZ Bank extend partnership

Melbourne-headquarted SaaS provider Knosys has announced that ANZ Bank has signed a two year contract extension for the continued use of Knosys’ knowledge management enterprise solution, KnowledgeIQ.

The total contract value for the two-year period is $3.8 million and Knosys will receive the full two-year payment upfront, enhancing the company's cash flow and cash reserves.

KnowledgeIQ serves as a System of Record (SOR) in the AI value chain by acting as a centralised and authoritative data management platform.

It functions as the trusted primary source for specific organisational data, ensuring accuracy, integrity, and consistency across business processes, the company claims.

“This contract extension reflects our long-standing relationship with ANZ and our ability to support their internal strategic initiatives such as the integration of a new AI assistant into their knowledge management portal," Knosys MD John Thompson said.

"Over the next two years, we will be assisting ANZ in effectively utilising AI to improve employee workflows and customer service.”

The extension follows on from a one-year contract extension signed close to a year ago.