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ANZ Banks on Prophecy's e-Foundation
Released 15 November 2000

The ANZ Banking Group has signed a contract worth an expected $4 million with Australian-based software multinational Prophecy International.

The Asset Finance division (AAF) of ANZ has selected Prophecy's e-Foundation rapid application assembly technology as a key part of a major new software development project. AAF will use e-Foundation as the major component in the development of a new Internet-based solution for its finance and investment systems.

As well as supplying the object-oriented e-Foundation software, Prophecy will deliver professional services to assist with the project, including training ANZ staff within Australia and those on a special software development team in Bangalore, India.

The project, which has its major delivery milestones in the second quarter of 2001, is expected to generate $4 million in revenue for Prophecy International. Ongoing services for this significant new partnership are estimated to produce $1 million annually for Prophecy.

Prophecy International is an Australian-based company that develops and distributes software for large and complex organisations globally. With more than 75 per cent of its sales overseas, the company has more than 850 installed sites worldwide.

The ANZ agreement is a major local endorsement for Prophecy's unique technology, representing a significant milestone in the acceptance of its world-leading
e-Foundation software as the cornerstone of large development projects.

Prophecy won the business against competition from overseas-based multinationals by conforming to strict internal technical and integration criteria. A successful "proof of concept" phase showed the flexible capabilities of the e-Foundation technology.

Major attractions were e-Foundation's rapid "time to market" to deliver complex solutions, the ability for these solutions to be easily adapted to new market opportunities and its ability to integrate with core products in use by AAF.

Prophecy International executive director Alan Greig said the successful selection by ANZ Banking Group demonstrated the world-leading nature of Prophecy's technology.

"ANZ was very impressed by our ability to quickly and easily reconfigure the e-Foundation technology to meet their business needs," he said. "This is a vote of confidence in Prophecy and its e-Foundation technology.

"The software developed in this project has significant appeal internationally. Prophecy and AAF have agreed to work together to capitalise on these commercial opportunities."

 

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