ANZ has signed a $A3.8 million two-year contract extension with Melbourne SaaS provider Knosys for its enterprise knowledge management platform.

The agreement includes an optional third year and requires ANZ to pay the full multi-million-dollar contract value upfront to Knosys.

The extension ensures the continued deployment of KnowledgeIQ, which acts as a centralised and authoritative data management platform within the bank.

The platform functions as a critical System of Record in the artificial intelligence value chain to support reliable organizational decision-making.

It provides a trusted primary repository for specific business data, ensuring data accuracy, integrity, and consistency across internal operational processes.

This renewal follows an interim one-year extension signed in 2025, where both organisations began collaborating on cloud migration and automated features.

"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," said John Thompson, Knosys Managing Director.

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

Knosys claims that by serving as a definitive data repository rather than a temporary storage layer, the platform prevents discrepancies and supports reliable decision-making.