RealTime IT News

ANZ Cashes in on MultiEmedia Technology

ANZ has formed an alliance with Internet technology developer MultiEmedia, which will see the bank take a 15 percent stake in the company with the option to expand during the three year term of the deal.

Under the agreement, MultiEmedia will host ANZ BizSite, the Web creation service for ANZ's small to medium sized enterprises (SMEs) customer base. In return, ANZ will have exclusive access to MultiEmedia's technology in the Australian and New Zealand financial services sector.

ANZ's managing director of personal e-commerce, Satyendra Chelvendra, said the deal with the MultiEmedia, which also provides a range of consulting services and development tools for SMEs, would allow the bank to expand its share of online small business customers.

"This is an important alliance as it provides our small business customers with a value added tool which complements our existing online banking services," said Chelvendra.

ANZ BizSite will allow small business customers to build their own Web site with a step-by-step guide and an online help facility.

"The software is ideal for small to medium sized businesses; however, we would see this product as the first of many we can offer ANZ customers, via this relationship, to help support their Web based business strategies," said MultiEmedia chief executive officer, Ian McRae.