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Opening the door to Open Finance


Great news everyone, we are now “Good to Go” for the Open Finance project, it has taken a little longer than expected, however I am very excited as we start this journey. Looking at what Open Finance will mean to our SME’s, aging wealthy, Maori and Pasifika, essentially every New Zealander. The Government’s recent announcement on “Customer Data Right”, similar to what Australia did in July 2020, also help shape our thinking.

We will consider how this could make the financial services industry more transparent and competitive and provide access to more products and solutions, even to those who are unbanked.

It has been a busy time over the last month hosting and being part of events both here and virtually overseas. Coming up next we have a great line up discussing all things Cyber which is very topical right now, and a session with Minister Shaw on climate related disclosures of the finance amendment bill, which will be very different for a lot of companies. We are also partnering with Jade Software and MinterEllisRuddWatts who will be looking at the Introduction of DevOps practices in highly regulated FS environments. In this session we will learn how embracing leading DevOps methodologies can help with the cyclical view of large incumbents and accelerate customer-centred growth, turning what was half-yearly technology releases into daily releases, whilst minimising risk and streamlining the process.

Launching the Golden Ticket program during COVID could have been a little risky, however it was clear to see at the breakfast anniversary that it was great concept and had a great deal of success. Three companies have completed the program and we are now in the process of picking the winner for Tranche 4 which is very exciting.

Following this first successful trial of the Golden Ticket Scale-up Lab with paySquad this new program feature is set to become a permanent fixture of our program offering. Thank you Cameron Richardson for working with us to break new ground on this.

As an independent industry association, we have been asked to produce a FinTech session which will be part of the National Party’s Technology conference, scheduled for the 14th of September. It is exciting to see them continuing to build on their technology policy, launched before the last election.

We are also looking to complete a research project with TIN100 that will be totally focused on the FinTech space. FinTech still remains the fastest growing sub sector of the technology ecosystem, 22.1% last year compared to AgTech at 6.7%. We aim to go live in early August and hope to complete the project by early November. We see this as a tool for Government to use when having discussions both here and overseas, so please do get in touch to get involved.

James Brown
General Manager

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