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
“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
“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
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.