The role of central banks has expanded significantly as a result of the financial crisis. Central banks were formerly engaged in regulation and monetary policy, and acted as financial advisors and fiscal agents for national governments. Today, these institutions have a broader mandate to ensure financial stability and create trust in the national economy. In the past, central banks took a largely indirect approach to maintaining market stability; now, this role has extended to the quantity as well as pricing of liquidity, including quantitative easing, and direct market intervention.
To fulfill their traditional and extended role, central banks have a broad and complex set of banking requirements. With the country's economy dependent on central banks' ability to act quickly, decisively and with full access to information, they need a banking partner with the comprehensive range of functionality from cash management, payments and collections through to investment of foreign exchange reserves and full securities servicing.