Synergy off-shoot pushes banking software
- 15 November, 2006 22:00
Synergy International plans to form a subsidiary company for its Fronde Anywhere mobile commerce business. CEO Jim Donovan says banks and potential integration partners in Britain, the US and Australia have expressed strong interest in its Bank Anywhere product suite, being trialled here by Kiwibank. Bank Anywhere comprises modular components of software and transaction services for mobile banking and payments, messaging and mobile identity management. Donovan says Synergy’s mobile commerce business differs from its core enterprise and forming a subsidiary will aid growth in this part of the operations. “Synergy’s main business is in IT professional services and managed services. Our mobile commerce business runs under a different business model, has huge growth potential, and probably needs significant external venture capital as well. This move will facilitate Fronde Anywhere’s development.” The advancement of the mobile commerce offering is also a key driver in Synergy’s decision to acquire the remaining 33 percent stake in its British subsidiary, Fronde Synergy Great Britain. The stake was previously held by its joint venture partner SQS Group, which specialises in IT testing and quality assurance. Fronde Synergy GB head Connell Graham says the move signals its intention to build European operations.
He says his strategy focuses on banking, especially Fronde Anywhere’s mobile banking offerings. He also plans to target the ICT sector, particularly software companies, software-as-a-service businesses and telcos. Donovan says the joint venture between SQS and Fronde Synergy GB has been successful and the two firms will continue to partner when working for common clients. SQS’ UK CEO David Cotterell will continue as a non-executive director on the Synergy Great Britain board. Synergy has more than 200 staff in Auckland, Wellington, Singapore and London.