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FinTechs continue to disrupt traditional financial offerings


The FinTech Hui was a huge success. The two main actions for the session were:

  1. Speed up the process around Open Finance (CDR) 
  2. Open up the Trans-Tasman Technology pathway to help with talent and investment.

A big thanks to Huddle, Nicole Buisson and Jason Wilby for supporting and doing the hard yards to pull this together. The feedback would suggest a second Hui later in the year is highly desired, so if you are keen to be a partner or take part, please get in touch soon.
The technology didn’t fail us as we had a number of international speakers join from all over the world. Huddle and FinTechNZ used their extensive networks to bring the FinTech community together to discuss challenges and opportunities across the sector, this has never been more important.
Binu Paul from the FMA launched the new platform to help fintechs, with many Government agencies involved. This will be a game changer connecting the tech sector with the Regulators who really do want to support innovation.

I lead the Insurance and Banking Partnership sessions and who would have thought insurance was “Sexy”? We had a very honest and sometimes “Chatham House rules” debate across the banking partnership, however it is great to see organisations sharing their war stories to save others from making the same mistakes, no blood was spilled during these sessions.

Our events calendar continues to build, next up will be “Capital Raising through COVID” in Hamilton where we will hear from the ASX, Kernel, Manuka Capital and hopefully Rob Vickery, we will also be hosting a number of InsurTechNZ, WealthTechNZ and Regulation Roundtable events, watch our website for more details.

I am very excited to announce that we have the green light to push forward with our “Open Finance” project, which is being supported by MBIE, The Digital Council, Minister Clark and a number of industry members. We are still seeking partners who are keen to support this project to change the face of financial services in New Zealand, to tackle financial and digital literacy, to help build our digital capability to launch into new markets, to address financial inclusion and insure we take every Kiwi on the journey, to tackle climate change, job creation and increased productivity which will move us up the OECD charts, do you want to be part of this game changing project? Then please give me a call to discuss options.

We are also committed to supporting discussions around the Free Trade Agreement between the UK and New Zealand, we will be hosting an intimate session around May with key stakeholders who can help our Government understand the advantages and disadvantages of not including FinTech/Technology in the discussion.

The sentiment from the Hui is that New Zealand has a unique opportunity to capitalise on the efforts made by the team of 5 million, however it was noted that if we are not careful we will miss the boat. The effects around other sectors are clear to see, they are being impacted, exports are slowing, environmental and waterway issues, more people around the world are choosing alternatives like “vegan” or alcohol free and our Tourism sector will be struggling for some time to come.

The answer is clear, both Labour, National and the Green Party need to work together to support the fastest growing sector in New Zealand, commit to a long term plan (like Singapore) put in place incentives to attract tech companies to places like Queenstown, work with industry around clear pathways to get into tech, redistribute some of our super funds to support innovation, expand on the work of the Council of Financial Regulators(CoFR) to commit to a single purpose and take the lead from industry experts, easy really.

James Brown
General Manager

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FinTechNZ Disruptive technologies are revolutionising traditional financial services, creating opportunities for start up entrepreneurs and corporate innovators. FinTechNZ helps connect, promote and advance the trends shaping the FinTech ecosystem.