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


Gen-i supports ICBC’s New Zealand launch

Gen-i supports ICBC’s New Zealand launch

One of the world’s largest banks, the Industrial and Commercial Bank of China (ICBC), has leveraged Gen-i’s ICT solutions expertise to open their first branch and become the first Chinese bank in New Zealand.

Since establishing in 1984, the ICBC has developed into one of the largest listed banks in the world in terms of market capitalization. A subsidiary of the ICBC, ICBC New Zealand gained its operational permit from the Reserve Bank of New Zealand in November 2013, and recently opened its first branch and Head Office at 2 Queen Street, Auckland.

Gen-i’s General Manager Corporate Clients, Steve Mills says ICBC New Zealand chose Gen-i on the strength of the company’s reputation for providing exceptional local ICT solutions and support for international companies, including some of New Zealand’s largest financial institutions.

“Setting up a new bank is not an easy process, and while the ICBC is a major international bank, their set-up team had a relatively small level of resource, so were in need of the best local expertise to meet the requirements of the Reserve Bank.”

The ICBC needed to show that they had a working local IT test environment with connectivity back to China. Mills says Gen-i provided this at their own site, while building an on premise data centre for ICBC in the PwC building, with the help of partners APC and Westcon.

“We developed a strong working relationship with ICBC that was built on trust, which helped make the set-up process as simple as possible for ICBC and delivered cost effective solutions.”

Mills says Gen-i’s ability to help ICBC overcome the cultural differences between New Zealand and China was a key factor in the success of the project.

“We have a diverse workforce here at Gen-i and we utilised our Mandarin speaking staff to assist with delivery of the solution for ICBC and advise on best local practice, which the ICBC greatly appreciated.”

Mills says supporting the establishment of ICBC’s first branch was particularly rewarding the bank’s new local presence will increase the opportunities for New Zealand companies to do business with China.

“As a country, we are already doing $18.2B worth of business with China every year, and ICBC’s presence in New Zealand will have flow-on benefits for trade and tourism between our countries for years to come. So this is not only a big deal for Gen-i, but also for New Zealand.”

The ICBC currently has a presence in six continents, across 40 countries and regions. The Bank provides comprehensive financial products and services to 4.6 million corporate customers and 411 million personal customers by virtue of the distribution network consisting of 17,225 domestic institutions, 389 overseas institutions and over 1,661 correspondent banks worldwide.

For the setup of the new office and branch, Gen-i worked alongside ICBC to design and configure their telecommunications (Voice and Internet), networking, and data centre infrastructure needs. Gen-i also supported ICBC with the equipment and environment they needed to carry out technical tests during the Reserve Bank registration process.

Gen-i’s solution for ICBC, deployed over the last six months, has included multiple Gen-i Internet Services, Gen-i WAN services over fibre, and critical data centre componentry such as racking, cooling and power management, as well as providing their servers, networking infrastructure, PCs and video-conferencing equipment.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Shocking Dairy Footage: MPI Failing Our Animals And Damaging Our Reputation

Greens “Nathan Guy needs to urgently look into how his ministry is enforcing animal welfare standards, how these appalling incidents happened under its watch and what it’s going to do prevent similar incidents happening again in the future." More>>


Land & Water Forum: Fourth Report On Water Management

The Land and Water Forum (LWF) today published its fourth report, outlining 60 new consensus recommendations for how New Zealand should improve its management of fresh water and calling on the Government to urgently adopt all of its recommendations from earlier reports. More>>



Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news