Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


South Pacific collaboration puts BRED banks on the map

South Pacific collaboration between GFG Group and BRED I.T. puts BRED banks on the map


Auckland, New Zealand. 11 November 2013. New Zealand headquartered international payments software solutions company GFG Group has partnered with IT services hub BRED I.T. (Thailand) Limited to enable the successful launch of Fiji’s newest bank – BRED Bank (Fiji) Limited – in just six months, and give BRED (Vanuatu) Limited a state-of-the art payments solution offering the bank greater flexibility and control.

BRED Bank (Fiji) Limited and BRED (Vanuatu) Limited are subsidiaries of BRED Banque Populaire, the biggest regional banking society in France’s second largest banking group – Banque Populaire Caisse d’Epargne (BPCE) Group.

BRED Bank (Fiji) Limited (BBF) launched its first branch in Suva in November 2012. To enable a smooth launch, GFG Group and BRED I.T. worked together to set up the Cadencie-based system and services framework for the bank in just six months. The first phase of the ongoing project included private label debit card issuing and acquiring on ATM and POS, and Visa acquiring on ATM and POS. The infrastructure was developed by GFG Group and is hosted and managed by BRED I.T. at their PCI accredited facilities in Thailand.

Claire Bonnerot, Card Manager at BRED Banque Populaire says BRED is very pleased with the outcome of the first phase of the project: “BRED Bank (Fiji) Limited is a start-up bank; earlier in 2012, the branch hadn’t yet been built. When GFG Group and BRED I.T. started on the project they had just six months to complete and go live with the first phase, including the launch of the bank and provision of e-payment systems and services for customers. It is a noteworthy achievement in such a short period of time. We look forward to seeing the outcomes of the next phases of the project.”

GFG Group’s Miguel Warren, Vice President Sales, Asia, says the successful first phase of the BBF project is a testament to the capabilities of GFG Group and BRED I.T. and the strong partnership the companies have formed working together on projects in Southeast Asia and the South Pacific.

“Our relationship with BRED I.T. allowed for close cooperation and coordination and resulted in flawless execution of the first, and most important, phase of the BBF project. Getting the payment system up and running on time for the launch of the bank was crucial. It’s pretty amazing what we achieved in the timeframe,” says Miguel Warren.

GFG Group and BRED I.T. are currently working on subsequent phases of the BBF project, to add further functionality, including Visa issuing and MasterCard acquiring, and the development of a 'standard interchange' with the four major local banks in Fiji.

Miguel Warren says they are in the process of scoping the requirements to build the standard interchange, which would replace the non-standard bi-lateral connections currently established between each of the banks.

At BRED (Vanuatu) Limited (BVL) GFG Group and BRED I.T. collaborated to develop a new, full-service payment system infrastructure for the bank, again based on GFG Group’s card management solution, which is also providing payment switching functionality to drive ATMs and POS devices.

Phase one of the project went live at the end of August 2012 and, like the BBF project, includes private label debit card issuing and acquiring on ATM and POS, and Visa acquiring on ATM and POS. Subsequent phases of the project include enabling Visa issuing and MasterCard acquiring.

Claire Bonnerot says BRED Vanuatu is pleased with the performance of its new system to date, and with the ongoing support and commitment from GFG Group.

“BRED Vanuatu was looking for a proven solution backed by good, responsive support and GFG Group has provided that. The flexibility of the new system is a key benefit, as is the fact that the system could be customised to exactly fit the bank’s specific requirements. The system offers better user control and it is easy to make changes without hassle, if needed.

“From the perspective of BRED Banque Populaire, in relation to both of these projects we have also seen the benefits of standardising payments systems across BRED’s subsidiaries,” says Claire Bonnerot.

“Our goal with every project is to develop a plan of action that delivers the bank-grade secure software, infrastructure, training and ongoing support that will enable our customers to be self-sufficient and put them in the best position to deliver high quality, innovative services and support to their customers,” says Miguel Warren.

“GFG Group and BRED I.T. first joined forces to implement an end-to-end payments solution for Banque Franco-Lao in Laos a couple of years ago. The success of this project cemented our strategic partnership and since then, we have collaborated on several projects, including the implementations for BRED Bank Fiji and BRED Vanuatu. We have a strong relationship that is further enhanced with the success of each project we undertake together,” Miguel Warren says.

BRED I.T. and GFG Group are exploring opportunities to extend their collaboration, such as BRED I.T. selling services and licences on GFG Group’s behalf. This could also extend to customers other than the BRED subsidiary companies the relationship currently focuses on.

________________________________________

About GFG Group
GFG Group is a leading global provider of innovative consumer electronic payments solutions and services to banks, mobile network operators and third party processors. More than 90 organisations in over 30 countries use GFG Group solutions. GFG Group’s proven payment solutions use bank-grade security and enable customers to launch products on open platforms faster and with less operational cost. The combination of greater speed to market and lower operational costs delivered by GFG Group solutions gives customers a measurably faster return on investment. GFG Group has a Head Office in Auckland, New Zealand, and a presence in Australia; the Philippines; Dubai, UAE; the Dominican Republic; and Chile. More information: www.gfg-group.com

About BRED Banque Populaire (BRED) and its subsidiaries
Founded in 1919, BRED is the biggest regional banking society in the Banque Populaire Caisse d’Epargne (BPCE) Group – the second largest banking group in France. BCPE has over 8.1 million shareholders, more than 36 million customers and employs more than 117,000 people. BRED is a multi-channel bank with 0ver 357 branches and specialised business and wealth management centres in France and French overseas territories. BRED Bank Fiji Limited (BBF) and BRED Vanuatu Limited (BVL) are part of the BRED Banque Populaire group. See: http://www.bred.com.fj AND http://www.bred.vu Banque Franco-Lao (BFL), in Vientiane, Laos, is a joint venture between COFIBRED, a subsidiary of BRED Banque Populaire, and Banque pour le Commerce Exterieur Lao (BCEL) – a bank owned by the State of Laos. COFIBRED owns a 54% share of BFL, with BCEL owning the balance (46%). BFL opened its first branch in Vientiane in September 2010, offering modern, premium commercial banking services. See: http://www.banquefrancolao.com/


BRED I.T. (Thailand) Ltd is a subsidiary of BRED Banque Populaire and operates as an “IT HUB” or “IT centre”, with a datacentre in Thailand, for commercial banks and other companies, mostly in South East Asia and Pacific Ocean areas. It manages and processes services for multiple banks across multiple countries in the region. See: http://www.bred.fr AND http://www.bcpe.fr

-ENDS-

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Media: Julian Wilcox Leaves Māori TV

Māori Television has confirmed the resignation of Head of News and Production Julian Wilcox. Mr Maxwell acknowledged Mr Wilcox’s significant contribution to Māori Television since joining the organisation in 2004. More>>

ALSO:

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news