It has been another good couple of weeks, and we are pleased with the announcement that Hon Clare Curran has picked the first eight members of the Digital Economy and Digital Inclusion Advisory Group. It’s great to see Frances Valintine as the Chair; I am sure the group will look to other countries for some quick wins around how the group will work.
FinTechNZ representatives recently met with the Auckland University of Technology (AUT) and Unitec, to discuss how we can support and attract more people into this exciting sector, and help drive GDP contribution; a number of initiatives were discussed in this regard.
Meanwhile, because we don’t have a robust regulatory framework in place, companies like Centrality are looking at Singapore to do business.
“I have access to a $1billion of funding, but I don’t want to place it here without knowing what the rules are,” said Centrality’s CEO Aaron McDonald at The Future of Money, held recently in Auckland.
There has been much discussion about the need for a Sandbox, and if losing out on the opportunity of $1billion of investment isn’t enough incentive to reconsider our position, I don’t know what is!
Marsh shared their Cyber Risk report findings and a couple of things stood out for me:
- only six percent of New Zealand companies have cyber insurance and
- on average it takes a company seven months to find out they have been hacked.
Only 40% of people surveyed at the event knew what cyber insurance is available. Clearly we can do more to create awareness and educate, which is why we are pulling together a Cyber Task Force with the likes of RedShield and Delta Insurance.
Membership and global engagement is continuing to grow with both FinTechNZ and InsurTech; a number of our collective will attend the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) conference; and don’t forget to put the Financial Services Future-Proofing (FSF) conference dates in your diary. We are also finalising the details on a couple of new partnerships which will be announced shortly.
I am also looking for expressions of interest for London FinTech Week on the 6 July and attendees for the Singapore FinTech Festival to be held later in 2018; so please get in touch so we can start to shape the schedule. We also have our next InsurTech event on the 5 April, so come along and get involved.
I would also like to welcome Natalie Chapman, who has joined us in a volunteer capacity as project administrator, and brings a wealth of experience and enthusiasm.