The NSW government is encouraging the big four banks and their smaller competitors and fintechs to make a run at its banking contract, one of the largest in Australia, which processes about $200 billion in payments every year.
Incumbents Westpac, ANZ and Citigroup will be keen to hold on to the contract, which has gone to tender. The government processes about 200 million transactions every year, nearly 1 per cent of all transactions in Australia, with a value of close to $200 billion.
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Max Mason covers insolvency, courts, financial crime, cybercrime and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
