Client: Reserve Bank of New Zealand
New Zealanders still value the option of paying with cash and it’s a choice they want to keep. However, cash is becoming harder to get as banks remove branches and ATMs, and fewer firms want to carry it.
As seen during Cyclone Gabrielle, the role of cash when electronic systems are down continues to be very important.
The RBNZ wanted to test options for maintaining effective localised cash systems in this context.
We were engaged to help RBNZ prepare a business case for running "cash trials" in a sample of rural communities that lack adequate cash services and infrastructure.
We worked with RBNZ to develop and refine the options and consider the financial costs of the cash trials – this involved building an interactive model, including a summary dashboard and a PowerBI tool to help select trial towns.
We delivered:
- a financial model and PowerBI tool to enable RBNZ to make decisions
- a draft business case in the RBNZ template for RBNZ to complete.
The business case was considered by the Payments and Currency Committee in August 2023. The cash pilots were approved and are being implemented.
