ANZ (ASX:ANZ) signs three-year contract extension with Knosys (ASX:KNO)

• Knosys (KNO) signs a three-year extension with ANZ (ANZ) to supply its knowledge management solution to the banking giant
• The contract extension is expected to be upwards of $5 million for the solution called KnowledgeIQ
• ANZ has also agreed to a series of upgrades to the latest release of KnowledgeIQ
• The company says this extension, in addition to other recent successes, will place it in a strong position for FY23
• KNO shares are up 5.88 per cent to close at nine cents while ANZ shares are down 1.61 per cent to close at $23.90

Knosys (KNO) has signed on for another three years to provide its knowledge management solution to ANZ (ANZ).

The contract extension is expected to be upwards of $5 million for the use of the solution called KnowledgeIQ.

ANZ has also agreed to a series of upgrades to the latest release of the solution, which Knosys said will allow the bank to benefit from its new features.

The company says this extension, in addition to other recent successes, will place it in a strong position for FY23, with a growing recurring revenue stream.

“This contract extension reflects the confidence that ANZ has in our capacity to deliver a superior knowledge management solution,” Knosys Managing Director John Thompson said.

“We are seeing more clients in government agencies and financial services becoming increasingly focused on employee and customer engagement.

“Our solutions support these initiatives by enabling employees and customers to find relevant information more quickly, either through call centres or through digital channels such as websites and chatbots.

“KnowledgeIQ enables organisations to deliver consistent and accurate information by being a single source of truth.”

KNO shares were up 5.88 per cent to close at nine cents while ANZ shares were down 1.61 per cent to close at $23.90.