ANZ extends contract with Knosys for $3.8m
Key points
- ANZ extends contract for 2 years with an optional 3rd year
- Contract value is $3.8 million for 2 years
- Full payment received upfront, enhancing cash flow
- Knosys to support ANZ's AI integration initiatives
- KnowledgeIQ serves as a System of Record (SOR)
Full summary
Knosys Limited (ASX: KNO) announced that ANZ Bank has extended their contract for Knosys' Knowledge Management solution, KnowledgeIQ (KIQ), for an additional two years with an optional third year. The contract is valued at $3.8 million for the initial two years, with full payment received upfront. KnowledgeIQ acts as a centralized data management platform, ensuring accuracy and consistency in organizational data. The extension reflects the long-standing relationship between Knosys and ANZ and will support ANZ's strategic initiatives, including integrating a new AI assistant into their knowledge management portal. This extension aims to enhance employee workflows and customer service.
Guidance
Knosys to receive $3.8 million upfront for 2-year contract extension with ANZ
Outlook
Knosys expects to support ANZ in leveraging AI to improve workflows and customer service over the next two years.
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