ANZ turns to Gresham for cash management solution

ANZ, one of the five-largest listed companies in Australia and number one bank in New Zealand, has signed a strategic licencing agreement with Gresham Technologies for a new cash management solution.

The companies have partnered to deliver a complex project which has involved collaboration between teams from a number of different areas of the bank working across multiple time zones with Gresham staff in Asia Pacific and at its Innovation Labs in the UK.

ANZ will be using Gresham’s new Clareti banking solution to ensure development of the new solution is on track. Highlights of the partnership journey to date include:

• Demonstrating benefits that can be realised by effective partnering between large banks and experienced fintechs;
• Enabling ANZ to access the latest technologies for rapid creation of customised products to meet corporate and institutional customer requirements;
• Demonstrating the value of microservice architectures, APIs and agile ways of working to accelerate new product development processes;
• Proving the robustness of Gresham’s Clareti technologies and collaborative development processes.

The skills of the Gresham team, combined with the Bank’s deep understanding of their customer segments, has proved to be invaluable to the innovation process and speedy delivery of the new solution.

Mark Evans, Managing Director, Transaction Banking, ANZ commented: “Our commitment to meet the dynamic needs of our customers – encompassing corporates, multinationals and financial institutions– is at the centre of our digital strategy within the Institutional Bank. Customers are also looking at us for support in improving their own end-user experience. Our long-term strategic partnership with Gresham will support the delivery of innovative cash management capabilities and we are excited about the experience it will deliver.”

Ian Manocha, Gresham CEO, added: “Customer demand for tangible value from their bank relationships has never been greater. Working with our partner ANZ and using the very latest digital innovation and modern technology, the Gresham team is developing exciting cash management solutions which will deliver benefits to the Bank and to their customers. The product development work is firmly on track and we are delighted with the results we are achieving.”

Gresham Technologies launched its new Clareti Multi-Bank platform last year, following its acquisition of cash management and payments specialists B2 Group. Clareti banking solution is built using a modern microservice architecture and leverages Google’s GKE On-Prem for secure and scalable deployment. The new technologies are the foundation of its next generation of corporate cash management and payments solutions which Gresham intends to market alongside its established Clareti Multi-Bank service.