The New South Wales Government has decided to extend its transaction banking partnership with ANZ. This collaboration allows ANZ to continue in its role of supporting the processing of nearly 150 million transactions annually managed by the state, which accounts for almost one percent of all transactions in Australia.
New South Wales, as the largest economy in Australia, involves a significant volume of financial transactions. The government's annual transaction value stands at $216 billion, which includes one of the largest payrolls in the country and $40 billion in supplier payments each year.
The renewed partnership is part of the NSW Government’s digital transformation initiative, aiming to improve navigation through the cyber security landscape for stakeholders involved in moving goods and capital across the region.
ANZ has proven capable of improving payments productivity, cost effectiveness, and safety for agencies, maintaining its transaction banker relationship with the NSW Government since 2018.
Mark Whelan, ANZ Group Executive, Institutional, stated, “This contract builds on our strong relationship with the NSW Government, delivering secure and inclusive payment solutions, and meaningful outcomes for the communities we serve."
He added, “We wholeheartedly support the NSW Government’s drive to deliver postive outcomes for the people of New South Wales through the provision of innovative payment services. This renewed partnership is important to us as one of the region’s most trusted providers of transaction banking services.”
ANZ continues to offer its services to governments, multinational organizations, and financial institutions in Australia and internationally. The bank was recognized as the top institution for transaction banking in Australia by the 2024 Coalition Greenwich Survey.