Genpact, a provider of business process and technology management services, has renewed its contract with Industrial and Commercial Bank of China (ICBC) Leasing further six months to strengthen development of ICBC Leasing’s financial and IT facilities.

As per the renewed contract, Genpact will focus on improving previous tasks and developing new functionalities to further strengthen the construction of an information platform for ICBC Leasing’s financial system and develop an Oracle-based operations management system.

Genpact said that for the domestic financial leasing sector, this contract renewal will establish a new standard for industrial information system.

In 2008, ICBC Leasing, the wholly-owned subsidiary of ICBC, entered into an agreement with Genpact.

Genpact designed an integrated solution for ICBC Leasing to help it in meeting the requirements of China Banking Regulatory Commission and deployed the solution in three phases.

Genpact China vice president Zhu Gang said that to provide better services, the company combined global experience with local expertise to accomplish a large amount of localized development based on Oracle ERP that fit the specific needs of ICBC Leasing.

“While solidifying our existing achievements, we will focus on innovation to support ICBC Leasing’s business with a more comprehensive system,” Gang said.