ANZ Bank has extended its partnership with Knosys Limited, signing a one-year contract for the continued use of the company’s enterprise knowledge management platform, KnowledgeIQ (KIQ).

The extension, valued at over A$1.9 million, comes as both parties work toward a longer-term, three-year agreement that would see the bank shift to Knosys’ KIQ Cloud service.

The forthcoming multi-year contract is expected to include a migration to the KIQ Cloud, which is designed to streamline information access for teams and individuals, while enhancing workflows and compliance processes.

The solution is designed for organisations that run customer contact centres, service desks, frontline offices or online self-service channels.

As part of the evolving deal, Knosys will also collaborate with ANZ to integrate a new artificial intelligence assistant into the bank’s knowledge management portal, aiming to improve both staff efficiency and customer service.

John Thompson, Managing Director of Knosys, described the contract extension as a testament to the long-standing relationship between the two organisations.

“This contract extension reflects our ability to support ANZ’s strategic technology initiatives, including their ‘cloud first’ approach,” Thompson said.

“We’re excited by the opportunity to help ANZ enhance its workflows and customer service with AI-powered solutions.”