CBA has been retained to provide transit ticketing services for the NSW Government and will support the State to deliver new technologies for improved journey planning, payment and information access.
As part of the long-term partnership, CBA is committed to delivering a number of benefits for the broader community and citizens of New South Wales, including investments to support small business, innovation and data insights.
Approximately 40 per cent of all payments across Australia are processed through CBA’s network, and this rich data and insight will be leveraged to enable the government to make timely and informed data-driven decisions to help build a brighter future for the State.
The agreement will also help to ensure the safety and security of payments through the implementation of CBA’s leading cyber and fraud management technologies, such as Namecheck, an Australian banking first that has saved the bank’s customers more than $400 million in mistaken payments and scams to date.
Sinead Taylor, incoming CBA Group Executive, Institutional Banking and Markets, said CBA would bring the bank’s full breadth of transaction banking capabilities to drive better outcomes for New South Wales.
“We are thrilled to have been given the opportunity by the New South Wales Government to harness our scale, digital innovation and government credentials to support a thriving, resilient and sustainable New South Wales.”
“CBA is at the forefront of payments modernisation and our secure, resilient and innovative payments technologies, combined with our sophisticated scams and fraud mitigation tools, will drive efficiencies and deliver a better experience for people across the State.”
“The New South Wales Government and CBA have a history of working together to drive innovation, with our long-standing partnership with Transport for NSW as just one example, and we look forward to broadening our partnership to benefit the people, businesses and communities of New South Wales.”
