Solace Limited, the Australian arm of Global Technology Limited, has signed a contract with the Bank of Queensland, representing its first Australian sale of Globus. Globus is the world-leading banking solution distributed by Global Technology, supplier of software solutions to the banking, insurance and financial services sectors in Southern Africa.
The new banking system will underpin the Bank of Queensland`s IT strategy, support its future business needs, and meet its key objective of creating a comprehensive banking system that delivers superior flexibility through component architecture. This will also support the Bank`s drive to increase customer numbers and reduce overall costs.
Commenting on the deal, Bank of Queensland CEO, John Dawson, said, "After discussions and preliminary work with Solace, and extensive due diligence over the past few months, the Bank concluded that Globus would provide the necessary level of flexibility to meet our requirements. Our innovative banking platform will enable us to create competitive advantage and maintain our reputation for superior customer service." Ray Leonard, CEO of Global Technology, comments "Solace has already made a significant investment in this project, and we will now start to reap the benefits of having the distribution rights to a world-leading product, Globus, that is readily available and tailored to meet Australian requirements. Solace will further benefit by the introduction of a proven product through the reduction in R&D expenditure as the company moves to establish the sales distribution and services aspects of its operations. The Bank of Queensland`s decision to implement Globus is a strong endorsement of Globus` potential for the Australian market."
Solace Australia relisted on the Australian stock exchange last year in December. Global Technology Limited listed on the Johannesburg stock exchange in November 1998.
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