Above all, the rapid integration of information systems is a prerequisite not only for efficiency gains but also for risk control, which is increasingly necessary with the growing complexity of business operations and expansion into new markets. It is still early for a full assessment of the impact of mergers on banks and customers.
The Reserve Bank must then repatriate cash back to Wellington for quality inspection and re-issuance. A digital currency has clear distributional benefits compared to banknotes as it does not need to be transported. This makes it safer and cheaper. Issuing a central bank digital currency would also ensure public access to legal tender money regardless of the presence of cash.