AUCKLAND, New Zealand, July 6, 2023 /PRNewswire/ — The New Zealand Government has reappointed Citi to the All-of-Government (AoG) banking panel and expanded Citi’s role to include online merchant acquiring.
Citi has been an AoG banking panel member since 2015, providing corporate card and foreign exchange payment services to the New Zealand Government. The new agreement runs for four years starting 1 July 2023 and until 30 June 2027.
AoG banking panel members are selected by the Ministry of Business, Innovation and Employment after a rigorous vetting process. Panel members are chosen for meeting stringent criteria that includes high service standards, process standardisation, technical innovation, and meet environmental, social, and economic outcomes.
Citi’s Treasury and Trade Solutions Head for New Zealand, Nick Howden said, "Our selection to the AoG panel recognises our leading cash management capabilities, the service excellence of our locally based team, and the trust we have built with New Zealand government".
"As the only international bank on the panel, Citi brings proven public sector credentials from working with governments around the world. We are delighted at the opportunity to continue to work with the New Zealand government".
Shane Best, Citi’s Global Solution Sales for the New Zealand Public Sector said "Citi provides a global network with innovative cross-border payment solutions and digital tools that can deliver economies of scale for cost efficiencies. Since our initial appointment to the panel, we are also expanding our role to include our merchant acquiring technology which provides a frictionless, secure payment experience."
"We are proud of the work we have done so far and look forward to continuing our work with the New Zealand government into the future".
Citi’s AoG suite of banking services encompasses:
- Foreign Exchange solutions for cross-border payments such as tax refunds and pension payments in over 130 currencies.
- Corporate card solutions to help to manage day-to-day expenses and pay suppliers faster.
- Online merchant acquiring technology to enable frictionless card and mobile wallet payments for customers to pay
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 90 countries with globally integrated technology platforms.
Citi is a pre-eminent banking partner for institutions with cross-border needs and a global leader in wealth management. Citi conducts business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.