MBIE says 10 banks interested in key government banking contract Westpac's held since 1989

By Gareth Vaughan

Ten banks have expressed interest in Westpac's master banking contract with the Government.

The Ministry of Business, Innovation & Employment (MBIE) and Treasury issued a Discussion Document on all-of-government banking services in June, in which they said the Government was looking to tender for core transactional banking services for the first time since 1989. Westpac has had the business through this entire period.

Asked how many banks had expressed an interest in providing the banking services the Government plans to tender for, MBIE's manager for collaborative procurement, Grant Lyons, told interest.co.nz 10 responses had been received.

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Govt should split the contract up
1. Reduce risk
2. Stop too much commercially sensitive information going to major bank
3. Increases competition
Likely outcome, govt will give the lot to Westpac again.