Fintech Pulsecheck Open Banking and Beyond Report
FinTechNZ and Deloitte
Presented by FinTechNZ and Deloitte this important report focuses on the current and future projections for Open Banking in Aotearoa New Zealand.
Adopting a qualitative approach to canvassing views from across the wider ‘banking and payments sector’ the report provides a targeted snapshot of how New Zealand organisations and FinTechs are working, or would like to work with Financial service providers.
The report reviews the following:
- What is the current NZ environment that ‘open banking’-style fintechs operate in and what is likely to change when NZ introduces a formal Consumer Data Right?
- As a precursor to true open banking in the future, what types of ‘permissioned data sharing’ use cases are active in-market, being readied, or attracting interest?
- While New Zealand awaits draft CDR legislation, what has the story been to date? How have we gotten to where we are?
- What would New Zealand FinTechs like to see considered by Government as part of the upcoming CDR?
Projected to be updated annually, this first 2022 report drills down on views that include banks as well as the wider ecosystem, crossing payments, views on the state of Open API’s, FinTechs and other methods of providing innovative Financial services.
This report is especially timely as Aotearoa New Zealand plans to progress towards the enactment of proposed CDR legislation early next year. This is the third partner generated report this year purposefully designed to assist and inform the market on the true state of play of Open Finance sector development.