Government appoints Citi to banking services panels
For Immediate Release
Citigroup Inc. (NYSE: C)
October 5, 2015
New Zealand Government appoints Citi to banking services panels
Auckland, New Zealand – The New Zealand Government has appointed Citi as a panel member in the All-of Government (AoG) Banking Services solution subcategories Foreign Exchange Services and Card Services. It is the first time in over 25 years that the Government has tendered its banking services, during which time banking trends and technology have evolved considerably.
Derek Syme, Citi Country Officer in New Zealand, said, “It is a privilege to be able to provide banking services to the Government of New Zealand. The country is keenly focused on global trade with a public sector renowned for its focus on innovation, reducing costs and improving competition. We believe we will be able to make an important contribution to supporting the economic growth of the nation.”
The Foreign Exchange service will be provided using Citi’s industry-leading WorldLink® Payment Service to facilitate international payments. The Cards Service will be provided through a bundled solution of Citi’s Corporate Commercial Cards Services linked to a Concur Expense Management System.
Scott Southall, Head of Treasury and Transaction Services for Citi in Australia and New Zealand, said, “We attribute our success in this tender to being one of very few truly global banks. This provides the Government with cross-border expertise, proven public sector capability and economies of scale that enable cost savings. Citi also has industrial-strength technology which is flexible enough to support the Government’s changing needs over time.”
Citi works with more than 700 public sector clients globally. This includes over 150 central governments, 100 local and regional governments, and more than 100 central banks, as well as key development banks, pension funds and sovereign wealth funds. It has the largest proprietary network with banking licenses in over 100 countries and globally integrated technology platforms.
More information on the AoG Banking Services solution is available at http://www.business.govt.nz/procurement/all-of-government-contracts/current-all-of-government-contracts/banking-services.