NAB has been selected by the NSW Government to provide whole of government banking and payment services for the next five years, the NSW Treasurer announced today.
Under the partnership arrangement, all NSW Government agencies across the state will be able to access simple, secure and cost-effective core banking solutions through NAB's transactional banking services, merchant services, purchasing and procurement cards and payment facilities.
NAB's market-leading digital payment and cash management solutions, including its real-time payments technology and NAB Liquidity+ platform, as well as its advanced fraud and scam prevention capabilities, will also be utilised.
Safe, simple, reliable banking solutions for the largest state economy
NAB Group Executive Corporate & Institutional Banking, Cathryn Carver, said NAB was thrilled to partner with the NSW Government to deliver more customer-centric, efficient and modern banking and payments solutions for the citizens and businesses of NSW.
"With the largest population, business footprint and economy of all the states, the financial strength and stability of the NSW Government carries great weight in Australia. As their banking partner, NAB is committed to providing superior products and services to help maintain a safe, efficient and cost-effective financial ecosystem in the state," Ms Carver said.
"We're confident our best-in-market technology innovation and industry expertise, especially through our liquidity management, FX, cross-border payments, and New Payments Platform programs, will also deliver a lot of value as the Government progresses the NSW digital strategy," Ms Carver said.
A shared ambition for greater customer-centricity
NAB's strategy places customer centricity at the core.
"As Australia's biggest business bank, and with wide-reaching corporate and institutional and personal banking divisions, NAB has a deep understanding of what it takes to deliver the best banking solutions and outcomes for businesses, customers and communities," Ms Carver added.
"The value we place on customer-centricity aligns with that of the NSW Government, and this sets the stage for us to jointly develop payment solutions that are truly simpler, safer, and more secure for the citizens and businesses of NSW."
A partnership built on more than money
A strong alignment on social priorities further enhances the partnership between NAB and the NSW Government, with both committed to tackling affordable housing and cost-of-living pressures, progressing a just transition, and supporting indigenous and small business growth and resilience.
"Our shared values and investment plans surrounding key societal issues was a central discussion point throughout the selection process," Ms Carver said, adding "being in lockstep on strategic priorities creates terrific footing for a long and trusted partnership."
"NAB's $6 billion ambition to fund more specialist and affordable housing, our deep community partnerships with highly-regarded organisations, like the Salvos, and our support of the Australian Business Growth Fund and National Reconstruction Fund were just a few of the examples we shared to demonstrate our purpose-driven strategy.
"It was also pleasing to have received such a positive response to our deep banking expertise in critical sectors for NSW such as education, health and infrastructure, and our ongoing investment into start-ups and technology innovation via our NAB Ventures business."
Today's announcement progresses a partnership spanning more than a decade.
"We're delighted to be strengthening our long-standing relationship with the NSW Government and supporting its vision to deliver purposeful, digital solutions that enable a thriving, resilient and prosperous New South Wales," Ms Carver said.
