Reserve Bank of New Zealand - Independent Quality Assurance

Facing the most complex change to New Zealand’s banking system for over 25 years, the Reserve Bank engaged Gemtech to provide technical quality assurance for the Payment Systems Replacement Programme.

The affected systems were used by banks, custodians, registries, and brokers, and fundamentally underpinned all banking in NZ and its broader global connections. This programme spanned across five years.

Several of Gemtech’s consultants collectively delivered the engagement which varied in size and expertise as the programme progressed. Initially assessing the capability, capacity, and suitability of the provisional design and delivery approach, Gemtech’s role as the IQA provider continued for the remainder of the programme. This role included assessing the quality and appropriateness of programme management, governance, software development environments, readiness, testing, and contingencies.

The IQA reports were a key aspect of the Go Live prerequisites, reviewed and considered by the RBNZ’s Senior Leadership Team. Senior members of our team were also invited to present reports to executive bodies, as part of an overall risk management strategy. Our involvement helped to ensure no significant failures occurred with the rollout of the new systems. This mitigated potentially damaging consequences to New Zealand’s international reputation and financial exposures.