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