COMMONWEALTH BANK WINS QUEENSLAND GOVERNMENT BANKING CONTRACT
Commonwealth Bank today announced it has been selected by Queensland Government to provide whole of Government banking services for the next five years.
This strategic partnership aims to deliver market-leading innovation in banking and payment solutions to transform the way frontline services are delivered by Government to the people and businesses of Queensland.
Commonwealth Bank’s market leading real-time banking platform, along with its award winning CommBiz online banking and ecommerce solutions will continue to make transacting with the Government easy and simple for Queensland. The Group’s real time banking and seven day same day settlement provides significant cash flow benefits to the State, including earlier reconciliation, more detailed reporting and better control of funds.
Kelly Bayer Rosmarin, Commonwealth Bank Group Executive, Institutional Banking and Markets, said CBA’s leadership in technology and innovation enables the Bank to quickly deliver significant cost savings and efficiency dividends for the Government.
“We are delighted to be given the opportunity to continue to work with the Queensland Government to use our industry-leading capability for the benefit of Queensland,” Ms Bayer Rosmarin said.
“Our real time banking capability and analytics will help make it easier for the people of Queensland to do business with their Government and enables the Queensland Government to make better decisions quicker to meet the evolving needs of the State.
“Commonwealth Bank has a long-standing partnership with the Queensland Government. We welcome the opportunity to work with the Government to explore new and exciting ways to deploy our technology and innovation to better assist the Government and its agencies as well as sharing the benefits of our continuing investment in innovation,” Ms Bayer Rosmarin said.
Commonwealth Bank’s Institutional Banking and Markets business provides equity, debt and banking services, including payment solutions, and unrivalled data analytics and insights to CBA’s institutional clients.
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