As the New Zealand government considers what form a proposed Consumer Data Right will take, members of the financial services ecosystem will have opportunities to influence the direction via initiatives such as this Fintech Pulsecheck survey and the resulting report. It is essential that your views are heard and taken into consideration.
Please take the opportunity to complete this important survey and have your say. It will be open until the 2 May 2022 at 11:59pm. There will be an upcoming event discussing the resulting report on Wednesday 6 July which we will also be inviting you to participate in.
Globally, the financial services industry is entering a phase of near-unprecedented opportunity for innovation, with Distributed Ledger Technology, new data handling methods such as homomorphic encryption, and other emerging techniques supercharging the possible range of use cases for more familiar technologies such as APIs and other means of data sharing. With a small market and a critical mass of technology-savvy consumers, New Zealand will be well-placed to take advantage of these opportunities.
About the survey
The survey is intended to provide an anonymous channel for Fintechs to have their voices heard, and for Financial Services FS organisations, regulators, and industry groups to gain insight on how they can best support the ecosystem towards mutual success.
The purpose of the survey is to take a targeted snapshot of how New Zealand organisations such as Fintechs are working – and would like to work – with financial services providers. These include banks, as well as the broader ecosystem, via means such as Payments NZ’s API standards for Payment Initiation and Account Information, other APIs, or any other comparable techniques (including intermediaries). There is a particular interest in use cases where consumers are granting permission for their data to be accessed by third parties, such as those Fintechs or their partners.
Key survey topics include:
- Current business offerings and data exchange mechanisms
- Aspirations for the future
- Changes desired from banks, regulators, government, industry bodies, peer Fintechs
- Connection with the wider market and ecosystem
- Product/Funding maturity
While our primary interest is in open banking-style use cases that enable the sharing of consumer data, we are casting our net wider to capture related and adjacent activity, including Fintechs or other participants who may wish to move into this space over time, perhaps working with parties such as smaller lenders currently. Please note we are not including insurance use cases in the 2022 survey, given how specialised this area is.
The survey and resulting report will be repeated annually, allowing us to build a longitudinal picture of New Zealand’s evolution in this space.
How to participate in the survey
The 2022 NZ Fintech Pulsecheck Survey is open now and will close on the 2 May 2022 at 11:59pm.
If you would like to participate in the survey, please click the link below which will take you to an external website run by Momentive Inc., their Privacy Policy is available within the survey. There are seventeen questions to complete. We are seeking qualitative information so the time it takes to complete will vary depending on your organisation’s experience and response.
Once the survey has closed, the report will be released via an online event (details and invitation to follow) and made publicly available.
Who is helping conduct the survey?
Deloitte Consulting is working with FintechNZ to conduct the survey, provide analysis of the data, and provide a Final report. Deloitte Consulting and FintechNZ will de-identify the survey results and aggregate the data, no personally identifiable information will be published in the report. The study will be driven primarily by Stephen Clay and Hussein Tawfik from Deloitte Consulting, with the full support of Fintech New Zealand. Stephen and Hussein are Associate Directors each with a wealth of financial services sector experience in NZ and abroad, in both consulting and corporate roles.
Privacy Notice
View our privacy notice here.
How to get in touch with us
If you have any questions or comments regarding the Pulsecheck, please contact Deloitte Consulting via nzfintechpulsecheck@deloitte.co.nz. This includes anyone who would like to contribute to the survey directly over email rather than via the online survey tool.
