Gresham Technology signs licence deal with fintech partner ANZ Bank
London-based software services firm Gresham Technologies said is had signed a licence agreement for its Clareti software platform with ANZ Bank.
The firm, which specialises in providing real-time data integrity and control solutions, said the deal with ANZ Bank, its strategic FinTech partner, is for new digital open banking technology arising from the innovation service first announced in September last year.
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, the company said.
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 June 30th 2019, with a minimum subscription fee of AUD $450k per annum.
Fees are expected to rise over the five-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.
Gresham is listed on the London Stock Exchange and its shares were trading 1% higher at £1.09 following the announcement.
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