FinTech innovators looking for guidance on regulatory matters in relation to their projects, have a new place to go to: fintech.govt.nz. The site is a way to engage with member agencies of the Council of Financial Regulators (CoFR) – Kaunihera Kaiwhakarite Ahumoni – in a single forum.
The pace of tech-enabled solutions in the financial services sector is accelerating quickly. As a result, opportunities to improve consumer outcomes and so increase the efficiency and competitiveness of the system have increased dramatically.
Innovation calls for an agile approach and embracing of new ways of thinking – yet we must always be mindful of fairness, transparency and financial stability. Regulatory frameworks designed with this in mind can help support and encourage innovation journeys.
Against this backdrop, the FinTech (digital and innovation) forum of the CoFR has launched fintech.govt.nz, where innovators can submit requests for engagement. The regulatory guidance service has been available since April, with the site going live in mid-July.
The service is proving to be very popular with at least 25 founding teams using it to seek guidance for their projects. Over time the site will host more tools and features to allow better experiences for innovators looking for regulatory guidance.
We’re always looking for ideas to make the site more useful, so please get in touch with any suggestions about new features that would be useful for you and the wider FinTech community.