Saturday, 15 June 2024

Commonwealth Bank partners with Queensland government for banking services

5 min read

Commonwealth Bank was selected by Queensland government to provide whole of government banking and payment services for a minimum term of five years.

Under the arrangement, CBA will provide banking and payment services to all Queensland government agencies over a five-year term, with two three-year options to extend.

CBA’s market leading product capabilities and services will support the State to transform the way frontline services are delivered by government to the people and businesses of Queensland.

New product innovations, such as CBA’s PayTo capability and PowerBoard e-commerce offering, as well as NameCheck, an Australian banking first which helps reduce false billing scams as well as mistaken payments, will continue to make transacting with the government easy and simple for Queenslanders.

Building on a strong and enduring strategic relationship, the partnership will deliver fit for purpose solutions, tailored cash management as well as payments and merchant acquiring capabilities, to support the State’s priorities in building a prosperous Queensland.

Andrew Hinchliff, Commonwealth Bank group executive institutional banking and markets, said the bank would utilise its product innovation capability to deliver better outcomes for Queensland.

Hinchliff said: “We are delighted to be given the opportunity to continue our 30-year relationship with the Queensland government to deliver on the vision to create a thriving, inclusive Queensland. Our long-standing commitment to technology and innovation will help in delivering better services for Queenslanders to do business with their government now and in the years to come. Combined with our advanced analytics and economic insights, we will provide support to the Queensland government to make timely and informed data-driven decisions to meet the evolving needs of the state.”

Hinchliff pointed to the delivery of Smart Ticketing on Queensland public transport as well as providing safer, more convenient payment methods, supported by leading eCommerce capability and data insights.

He said: “CBA has a long-standing partnership with the Queensland government and we’re excited to have the opportunity to build on what we have already accomplished together for Queenslanders, including the delivery of Smart Ticketing and providing safer, more convenient payment methods. We look forward to seeing this in action during the planning and delivery of the 2032 Olympic and Paralympic Games.”

Re-disseminated by The Asian Banker

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