Beacon Award winning developer FishTech can throw away its fishing rods, following the netting of a multimillion-dollar deal with a European merchant and investment company - Banque Nationale de Paris (BNP).
The two-year contract will see the Sydney-based developer supply, install, maintain and support a Lotus Domino-based credit approval system - cooperatively developed by FishTech and BNP - in more then 400 BNP offices around the world.
FishTech's managing director, Nick Fish, said the contract was a result of a successful business partnership between the two companies that started when he left BNP nine years ago in pursuit of new challenges and found his personal niche with FishTech.
"I think our previous relationship was a definite advantage in the selection process, as BNP immediately saw the benefits of my understanding of their internal credit management processes for the development of the solution," Fish told ARN.
"We were actually a bit more expensive than a couple of other BNP partners that bid for the contract, but we offered a total solution in terms of training, documentation and business analysis. The other bidders focused on their applications, rather than on offering support."
Seccom Dynamic, as the winning solution is called, was initially developed and deployed for BNP Australia. The process took seven months and $700,000 to complete.
However, following the systems' evaluation, the head office of BNP in France decided to introduce it as the company's global standard, realising that Seccon Dynamic increased productivity up to 25 per cent by standardising and automating application processing across the bank's operations.
Donald Coulon, BNP Australia's credit manager, has nothing but praise for its functionality, as well as for its creators.
"FishTech associates provided BNP with a true value-for-money solution, which has had a big impact on BNP's business, giving it a sustainable competitive advantage in the industry," he said.