Global ambitions, fintech for good, working group outcomes, new partnerships, international engagement, and the upcoming Ramp Up FinTech Expo.
Last month, our board set a bold new vision: for ‘Aotearoa New Zealand to become a globally renowned fintech nation’. Some may wonder if this is realistic, but just imagine a landscape with multiple Xero-level successes—this is the scale of opportunity ahead. With the right focus, will and collective effort, it could be achievable.
Alongside our core ‘Connect > Promote > Advance’ mission, we’re zeroing in on three strategic pillars for 2025–26:
- Accelerating startup capacity and capability, building on recent momentum;
- Sharpening our focus on scale-ups, a mission-critical space for long-term growth;
- Deepening engagement with government, especially in shaping policy and regulatory settings.
We’re increasing our presence in Wellington, strengthening our partnership with Creative HQ and their FinTechLab Accelerator—reflecting our commitment to support a region rich in startups, scaleups in particular and close to government. Our engagement with the Council of Financial Regulators (CoFR), made up of Commerce Commission (ComCom), Ministry of Business, Innovation and Employment (MBIE), Reserve Bank of New Zealand (RBNZ), Financial Markets Authority (FMA), and Department of Internal Affairs (DIA), is at an all-time high, with fintech leaders providing direct input on payment systems and other sector priorities.
Getting the settings right is critical—not just for Open Banking, but for laying down the foundations for the Open Data ecosystem. Fintech enablement somewhat simply has to be regarded as a core infrastructure layer for a modern digital economy. As with Ultra Fast Broadband (UFB) and earlier telecoms deregulation, advancing good regulation and ensuring public-private collaboration will be key. True success will ultimately be measured by strong consumer adoption and a growing technology led ecosystem, like we saw once UFB started becoming mainstream.
In this issue:
- We have two high-quality opinion pieces from our co-chair, Andrew Dentice (Hudson Gavin Martin) on our sector’s North Star and regulatory needs, and Ruth Riviere (Mastercard) on surcharging and interchange fees;
- Updates from new members (including Chapman Tripp and ASB);
- News on basic transaction accounts, fintech for good, and recent member achievements;
- International delegation opportunities and events.
🔔 FinTechNZ Updates
Basic Transaction Accounts & Fintech for Good: Driving Inclusion
Earlier this month, we hosted two in-person roundtables with CoFR to gather sector feedback on enabling ‘Basic Transaction Accounts’, especially focused on a growing cohort of New Zealanders currently excluded from the financial system. Digitisation is both a barrier and an opportunity. With support from Westpac’s research and sector speakers, over 140 leaders came together to address this urgent challenge affecting thousands of Kiwis—especially those experiencing homelessness, living with disabilities, returning from incarceration, or from a spectrum of vulnerable communities.
Key takeaways:
- The power of fintech: Real-life examples from SquareOne showed how basic accounts, supported by smart regulation, can enable broader financial access.
- Access as a human right: There was strong consensus that digital financial access is essential for all New Zealanders.
- Collaboration and focus: The group agreed a hybrid approach—collaboration between regulators and providers—is key, with special attention needed for migrants and marginalised groups.
- Commercial realities: Open discussion explored how to make basic services viable for all provider types.
Next steps:
- RBNZ will respond formally to participants via FinTechNZ.
- Expressions of Interest are open for the new Fintech for Good Working Group—contact Jason if you’d like to be involved.
Linked to this, Jason’s Sleepout fundraising for Lifewise is still open, raising awareness and support for Aucklanders experiencing homelessness. Please consider sponsoring the Sleepout on 10 July and help make a difference!
Welcome to New Members: Chapman Tripp & ASB
We’re delighted to welcome Chapman Tripp and ASB as our newest members. Chapman Tripp’s dedicated fintech sector team comprises experienced lawyers specialising in finance, financial services regulation, corporate, intellectual property, cyber security, data protection, privacy, consumer law, and technology. They provide expertise in both traditional and innovative banking and financial products, payments, and other fintech offerings, working with a wide variety of domestic and offshore banks, payment providers, exchanges, intermediaries and other financial service providers.
With ASB joining our ranks, we now have all the major banks directly represented within FinTechNZ. Their involvement strengthens our ability to champion innovation, advocate for effective policy, and build a sector that reflects the needs and ambitions of the whole New Zealand financial ecosystem. Look out for updates from both organisations and their future engagement in our working groups.
📅 Upcoming Events
Open Banking Summit 2025
Date: 2 July, Auckland
Hosted by Akahu, hear directly from Hon Scott Simpson and MBIE about New Zealand’s incoming open banking regime. Wednesday, 2 July, 9:30am-1:00pm at Chapman Tripp, Auckland.
Secure your spot
Ramp Up FinTech Expo 2025
Date: 25 July, Auckland
Experience the latest innovations and trends in financial technology at this free event. Discover pioneering fintech solutions, attend keynotes and panels on open banking, quantum computing, ESG, and more. Network with financial institutions, VCs, regulators, and innovators. 1:00–5:30pm at GridAKL, Auckland. Hosted by Ramp-Up.
Upcoming Delegations: Australia & Singapore
We’re ramping up our global connections with key delegations and events in Australia and Singapore. Join us at the CDR Summit (17 July) and Intersekt 2025 (14–16 August, Melbourne) to network with Australian fintech leaders and regulators. Looking ahead, the Singapore Fintech Festival (12–14 November) offers an exceptional opportunity for NZ businesses to engage with the world’s largest fintech market—contact Jason Roberts to express your interest. International events like these are invaluable for building relationships, sharing insights, and raising New Zealand’s profile on the global fintech stage.
💡 Thought Leadership
How Regulation Can Help NZ Become a Globally Renowned Fintech Nation
Our board co-chair, Andrew Dentice, has published an insightful article on how smart regulation is key to New Zealand’s ambition to become a globally renowned fintech nation. Andrew explores the opportunities and challenges facing our sector, and outlines the regulatory shifts needed to support innovation and international competitiveness.
Read the full piece on LinkedIn.
Fighting for fintechs: Why you should pay attention to the ComCom’s next move
If the ComCom’s interchange consultation is not on your radar, Ruth Riviere, Country Manager, Mastercard New Zealand and Pacific Islands, explains why it should be. We face a potential critical disruption to the core business model that supports payment innovation in New Zealand. While submissions are closed, it’s not too late to join the conversation and have your voice heard. If New Zealand wants to rebuild its reputation as a global leader in payments innovation, stakeholders must speak up now to ensure their concerns are heard.
Read the full article on our website.
📢 Community Noticeboard
Payments NZ Open Banking Progress
Payments NZ’s “Shaping Open Banking Together” report, co-developed with major banks, introduces enduring consent in Version 2.3 of the Open Banking standards. This enables seamless recurring payments, positioning New Zealand as a leader in payment innovation and paving the way for a more frictionless digital economy.
Revolut’s Big Moves
Revolut is accelerating global expansion—including NZ—while targeting a $150B valuation. New offerings like premium banking, rewards credit cards, mobile plans, and an AI assistant highlight the fast-changing fintech landscape and underscore the urgency for Kiwi fintechs to keep innovating and competing on the world stage.
Read more about Revolut’s ambitions
Kiwibank Launches New Startup Lending Programme
Kiwibank, in partnership with Ministry of Awesome, has launched a new lending programme for startups. The initiative aims to provide flexible finance options and tailored support to help early-stage Kiwi businesses grow.
Read more about the programme.
Xero Expands US Presence
Xero plans to acquire Melio, a US business payments platform, for US$2.5 billion (NZ$4.1b). Melio’s integration of accounting and payments will enhance Xero’s offering for US SMBs, reinforcing Xero’s global expansion and the potential of Kiwi fintechs abroad.
Read more about the acquisition plans.
🔎 Looking ahead
As we move into July, we’ll continue advocating for clear regulatory frameworks that enable fintech innovation. Your participation is crucial in shaping the future of financial services in New Zealand.
Ngā mihi nui,
Jason Roberts
Executive Director
