Global bank using tech to streamline Kiwi govt

Julie Monaco, global head of Citibank's public sector group for corporate and investment banking. Photo / Supplied

A major global bank is using new technology to help streamline New Zealand's government payment processes.

Julie Monaco, global head of Citibank's public sector group for corporate and investment banking, will be in New Zealand today to meet with government officials.

Citi began working with the government about four years ago and is the first non-Australasian bank to be signed up.

So far it has helped streamline the payment services at the Ministry for Foreign Affairs and Trade (MFAT).

Monaco said it had introduced a system where all the payments made by an embassy were done centrally rather than manually and meant the embassies could focus on their core business.

"We now support MFAT in 27 countries," Monaco said.

Citi also provided credit cards for embassy staff to use which then allowed spending data to be analysed with a focus on using spending power and cost savings.

That could mean using only certain hotel chains and service providers that would give preferential deals.

Monaco said since the global financial crisis governments had two priorities - GDP growth and cost cutting.

"Governments were looking for ways to become more efficient. One of the ways is to embrace more technology."

Monaco said the types of services it provided for the New Zealand government had also been used by the UK government.

She said New Zealand was at the leading edge of technology change.

Recently Citi has been involved in a project with Facebook, Microsoft and IBM to source new technology to develop ways of detecting fraud and bribery in government services in developing countries.

The CitiTech For Integrity Challenge attracted more than 1000 submissions from around the globe and the winners were now working to develop new applications that governments can use to detect and block illicit payments, stop welfare fraud and protect financial data.

Monaco said while the challenge was not specifically designed for developed countries like New Zealand, new concepts could be used to help any government.

She said there was a growing demand from the public for access to information.

"Constituents are demanding more and more transparency."