LONDON: Gresham Technologies plc, the leading software and services company that specialises in providing real-time data integrity and control solutions, has signed a licence agreement with ANZ Bank (ANZ), its strategic fintech partner, for new digital open banking technology arising from the innovation service first announced on 26 September 2018.
This new Clareti open banking technology platform, built using a framework of existing Clareti intellectual property and new developments, is designed to support ANZ’s digital transformation programme and forms an important part of its next generation of corporate banking solutions.
In the future, Gresham intends to market the technology as part of a broader suite of modern open banking solutions, including the existing Clareti Multi Bank cloud service.
The licence agreement commences on 30 June 2019 with a minimum subscription fee of AUD $450k per annum. Fees are expected to rise over the 5-year term of the contract as milestones are reached and as ANZ’s customers adopt the technology, up to a maximum of AUD $4 million per annum.
The innovation service is ongoing and expected to continue at current levels for the foreseeable future.