New Zealand picks Citi in banking services panel

Other new panel members are ANZ Bank and Westpac.

Citi has been reappointed to the All-of-Government (AoG) banking panel by the New Zealand Government.

In addition to its existing role of providing corporate card and foreign exchange payment services, Citi's responsibilities have been expanded to include online merchant acquiring.

Citi has been a member of the AoG banking panel since 2015, and the new agreement will be effective from 1 July, until 30 June 2027, spanning a four-year period.

The selection of AoG banking panel members involves a thorough evaluation process conducted by the Ministry of Business, Innovation and Employment.

ALSO READ: Australia, New Zealand’s banks face higher costs, weaker profits in H2 2023

The criteria for selection include meeting strict standards for service quality, process standardisation, technical innovation, and aligning with environmental, social, and economic objectives.

Other new panel members are ANZ Bank and Westpac.

AoG contracts were developed to enhance cost savings for agencies by harnessing the combined purchasing influence of the government; boosting supplier engagement for better collaboration; establishing standardised procurement practices across government interactions and; enhancing the overall service quality for both government entities and suppliers.

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