ANZ Bank has extended its contract with Knosys for the use of the KnowledgeIQ (KIQ) enterprise solution for an additional year.
The extension, valued at over $1.9m, is an interim measure as the bank negotiates a new three-year agreement which is expected to include a migration to Knosys’ cloud-based KIQ service.
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This contract renewal ensures the continued operation of Knosys’ Knowledge Management system within ANZ Bank.
Additionally, the companies are collaborating on the integration of an AI assistant into the bank’s knowledge management portal.
Previously, in 2020, ANZ Bank New Zealand entered a contract with Knosys to comply with the Reserve Bank of New Zealand’s regulations.
The contract entailed the migration of the bank’s data to Knosys’ KnowledgeIQ system.
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By GlobalDataKnosys managing director John Thompson said: “This contract extension reflects the long standing relationship we have with ANZ and our ability to assist them with their internal strategic initiatives such as their “cloud first” approach to technology solutions. We are also excited about the prospect of assisting ANZ with AI enhancements to improve employee workflows and customer service.
Last month, ANZ announced plans to introduce password-less web banking on its ANZ Plus digital platform, a first for an Australian bank.
