INDEPENDENT NEWS

Six banks awarded All-of-Government contracts

Published: Mon 5 Oct 2015 02:37 PM
Hon Bill English
Minister of Finance
Hon Steven Joyce
Minister for Economic Development
5 October 2015
Six banks awarded All-of-Government contracts
Minister of Finance Bill English and Economic Development Minister Steven Joyce today announced that six banks have been awarded contracts for the supply of All-of-Government (AOG) banking services, with Westpac to provide the Crown Transactional Banking services.
“It has been more than 25 years since government banking services have been put out to tender,” Mr English says. “Over this time there has been considerable evolution in the banking and financial services sector.
“The new contracts will deliver cost savings for government agencies and all New Zealanders. They will ensure that banking services are fit for purpose and provide value for money.”
The contracts have been awarded in four subcategories:
· Crown Transactional Banking: Westpac New Zealand Limited
· Foreign Exchange Transactions: ANZ Bank New Zealand Limited; ASB Bank Limited; Bank of New Zealand; Citibank N.A. – New Zealand Branch; and Westpac New Zealand Limited
· Payment Services: ANZ Bank New Zealand Limited; ASB Bank Limited; Bank of New Zealand; Kiwibank Limited; and Westpac New Zealand Limited
· Card Services: ASB Bank New Zealand; Bank of New Zealand; Citibank N.A. – New Zealand Branch; and Westpac New Zealand Limited.
“The financial benefits for the government from the AoG Banking Services solution are significant – negotiated price benefits and innovation commitments of more than $120 million have been secured over the life of the contracts,” Mr Joyce says.
“The AoG Banking Services solution will develop innovative banking products and solutions that will extend to the way government works with third parties and intermediaries, such as financial professionals, to generate efficiencies and improvements in the services provided.
“The new contracts provide government agencies with a choice of providers that have undergone a rigorous procurement process, and support the implementation of innovative banking solutions for all New Zealanders. These will make doing business with government easier and promote better ways of working, which are key objectives of the Better Public Services programme.”
The 35 core government agencies are required to use the Crown Transactional Banker. Other agencies can choose to use Westpac, or another provider, for their transactional banking needs.
The new contracts will run for up to eight years.
ends

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