Safeguarding New Zealand’s Financial Future Through Independent Quality Assurance

Safeguarding New Zealand’s Financial Future Through Independent Quality Assurance

In response to the most complex transformation of New Zealand’s banking system in over 25 years, the Reserve Bank of New Zealand (RBNZ) engaged Gemtech to provide technical quality assurance for its five-year Payment Systems Replacement Programme. This impacted systems used by banks, custodians, registries, and brokers, and formed the backbone of New Zealand’s financial operations and global connectivity. Gemtech’s initial evaluation included the design and delivery approach, and progressed to providing ongoing assurance across governance, programme management, software development, testing, and readiness.

Gemtech’s IQA reports became essential components of the Go Live decision-making process, reviewed by RBNZ’s Senior Leadership Team and presented to executive bodies as part of an overall risk mitigation strategy. The team’s involvement helped ensure a smooth rollout, avoiding major failures that could have jeopardised New Zealand’s international reputation and financial exposures.

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