Singtel and its subsidiary Optus Business have announced extending their contract with Australia and New Zealand (ANZ) Banking Group to provide telecommunications and managed services throughout Australia and Asia out to 2020.
Optus has held the ANZ contract since 2009, subsequently renewing it three years ago. In 2009, it was noted to be worth AU$500 million, which was upped to AU$530 million in 2013.
The agreement will see Optus and Singtel provide domestic data network services, international data network services, mobility, collaboration, contact centre services, and managed services for ANZ.
"Our strategic relationship with ANZ continues to go from strength to strength, and we are delighted with this significant contract milestone. We are highly committed to continuing our innovative approach to supporting ANZ's critical ICT requirements and business operations in Australia and across Asia," said Optus Business managing director John Paitaridis.
According to ANZ CEO Shayne Elliott, Singtel's services have "played an important role" in the bank's adoption of technology to simplify and enhance banking, as well as advocating staff collaboration.
ANZ's adoption of tech has seen it become the only member of Australia's big four banks to embrace Apple Pay by leaving the group of banks that are requesting collective bargaining rights with Apple, and was among the first to work with Android Pay.
Last week, ANZ also announced a reshuffle of its tech execs after the departure of its COO, with deputy CEO Graham Hodges to take on Group Hubs, Enterprise Services, and Group Property responsibilities; COO for Enterprise Services Craig Sims to take on the role of group general manager of Operations and Services; and general manager for Transformation Projects Nigel Dobson to be appointed to Wholesale Digital Strategy and Payments Transformation.
The bank's new structure will help it to continue its technology progress, Elliot said, adding that under the former COO, ANZ had "significantly improved" the quality of service and underwent a "digital transformation".
Optus Business also recently signed a multimillion-dollar, three-year agreement to provide IT services to QBE Insurance.
Under the QBE contract, Optus will deliver voice, mobile, and data services to over 4,000 QBE customers in 42 locations across the country.
During the 2016 financial year, Optus' enterprise business reported it achieved AU$1.57 billion in operating revenue, and of that ICT and managed services contributed AU$607 million, up 11.4 percent from the previous financial year.