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

 

Scoop Business: Fonterra Slashes 2015 Milk Payout, Earnings Tumble 76%

Fonterra Cooperative Group cut its forecast 2015 milk price payout by about 12 percent, citing weaker global dairy prices and said there is a risk of further declines given strong global milk production. More>>

ALSO:

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Scoop Business: Productivity Commission To Look At Housing Land Supply

The Productivity Commission is to expand on its housing affordability report with an investigation into improving land supply and development capacity, particularly in areas with strong population growth. More>>

ALSO:

Forestry: Man Charged After 2013 Death

Levin Police have arrested and charged a man with manslaughter in relation to the death of Lincoln Kidd who was killed during a tree felling operation on 19 December 2013. More>>

ALSO:

Smells Like Justice: Dairy Company Fined Over Odour

Dairy company fined over odour Dairy supply company Open Country Dairy Limited has been convicted and fined more than $35,000 for discharging objectionable odour from its Waharoa factory at the time of last year’s ”spring flush” when milk supply was high. More>>

Scoop Business: Dairy Product Prices Decline To Lowest Since July 2012

Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

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