TechnologyOne wins Bank of New York Mellon Australia contract

Technology One Limited (ASX: TNE), a leading Australian provider of enterprise business software solutions, has won a contract to supply and install TechnologyOne Financials to Bank of New York (BNY) Mellon Australia.

BNY Mellon Australia is a subsidiary of the multi-national financial services company, The Bank of New York Mellon, and provides a powerful product and service offering that meets the needs of Australian clients, particularly in the areas of asset- and mortgage-backed securities services, derivative services, and international debt offerings across a full range of asset classes.

When looking for a new financials solution, BNY Mellon Australia had clear specifications for what they required, which included easy to use client interface, out of the box reporting, and scaleability for future growth.

TechnologyOne Financials provided the functional capabilities and better value over those of a number of competitors, including Peoplesoft, which is the system of the US-based parent company, The Bank of New York Mellon.

Adrian Di Marco, Executive Chairman of TechnologyOne, said that the contract win with BNY Mellon marked the organisation’s increasing presence in the financial services market.

“Our success in this area has come from our ability to guarantee on time and on budget implementations, integration to core banking applications and superior reporting to manage the regulatory reporting requirements from the Australian Prudential Regulation Authority and the new International Financial Reporting Standards.”

More than 50 financial services companies currently use TechnologyOne business software solutions, cementing the company’s position as a significant supplier to the sector.