FinTechNZ Newsletter – July 2018

Georgia Taylor
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FinTech Newsletter

At the end of June, FinTechNZ held a strategy session, discussing our strategic direction. We had over 25 participants involved in the discussion in both Auckland and Wellington; members were highly engaged and we had a robust discussion on the future of FinTechNZ.

There was general agreement at that session that FinTechNZ is ready to transition to more formal governance arrangements, and I have spent this month working with the team at NZTech to develop this framework. The new governance structure will include the appointment of an Executive Council via a formal voting process. The Core Working Group is now tasked with finalising those details and I look forward to sharing our progress with you in future updates.

As part of our growth strategy, we’re looking forward to co-hosting the NZ Fintech Summit this year, the premier FinTech conference in New Zealand. If you’d like to get involved in the Summit, please get in touch to discuss various options available.

In other news, Minister Parker announced an update on the FTA agreement between the UK and NZ.  It’s my belief a FinTech bridge between the UK and NZ can be implemented far quicker than a traditional FTA, which will take years. A closer relationship will be good news for both countries; bringing with it with easier access to talent, the ability to play in the UK sandbox, new partnerships and the ability to test products in new markets.

FinTechNZ is well poised to play a part in the developing UK trade relationship, with New Zealand FinTech’s 48.5 percent growth compared to the global average of 31 percent. The tech sector is now the third largest contributor towards our GDP, and tracking to take over the number two spot.

Our growing relationship was evident when FinTechNZ attended  London FinTech Week, hosted in the world’s  number one financial centre,  with a delegation of 15 companies from New Zealand. We discovered there is plenty we can do to build  the FinTech relationship between NZ and the UK from the top down, including closer regulatory relations, while leveraging existing FinTech Bridge and FTA discussions.

With increased exposure on the international stage, now is the time for Kiwi financial services to be more transparent following banking issues in the United Kingdom and Australia. Transparency will be critical and as New Zealand is ranked number one in the world along with Denmark as the most transparent and least corrupt country by Transparency International. We are well positioned to take advantage of massive growth in the  market if we create the right experimental environment, combined with great access to the regulators.

Regards

James Brown
General Manager

Connect with FinTechNZ on 1 August in Auckland and 2 August in Wellington.

Finnotec

Register for the NZ Fintech Summit, 29 November at the Pullman in Auckland

EVENTS

Join us for our Winter Connect events 1 August in Auckland and 2 August in Wellington focused on supporting small businesses, featuring Sharesies, Kiwi Wealth, Callaghan Innovation, Xero, Harmoney and Vallum.

Attend the NZ Fintech Summit , 29 November at the Pullman in Auckland. The premier FinTech conference in New Zealand is brought to you by FinTechNZ and FINNOTEC. Binu Paul of PocketWise explains why this event is a highlight of the FinTech calendar. FinTechNZ members please contact us to arrange a discount.

FinTechNZ will take a New Zealand pavilion at the Singapore FinTech Festival 12- 16 November in conjunction with Kea, NZTE, ATEED and Xero, please get in touch if you wish to join the delegation.

Jason Roberts, FinTech and InsurTech Specialist, discusses the July InsurTechNZ Meetup. Make a note in your diary September 8 for the next InsurTechNZ event Bridging the Gap, focused on SMEs.

Please register to attend the NZTech AGM this Thursday, 26 July in Auckland.

The Trans – Tasman Business Circle is organising the 2018 AU/NZ Tech Fusion Delegation to Israel, more details here. Or register for the Circle’s inaugural cyber delegation to Melbourne, coinciding with cyber
week in Melbourne and SINET16.

The FSF CONFERENCE 2018: “DRIVING EXCELLENCE” held on 10th October focuses on proactively setting standards of responsible lending to drive excellence in the sector.

Registrations are now open for the Canterbury Tech Summit, being held 12 September.

Join FinTech Alley at the FSC Shaping Futures conference. Register as a FinTechNZ member  by 31 July for 50% off the ratecard.

Attend the Sibos Conference  in Sydney 22 – 25 October Enabling the Digital Economy.

Register early to get 20% off the Australian Payment Summit: Payments in the Platform Economy 26 – 27 November 2018.

NEWS

Simon Papa, Director of Cygnus Law discusses the need for regulatory innovation in FinTech.

Read highlights and insights from the Future of FinTech event in New York by Kristen Lunman, Innovation Director at Kiwi Wealth.

Rick Brown, FinTech and Growth Advisor, shares his experiences from the recent New Zealand payments industry conference, where Minister of Commerce and Consumer Affairs Hon Kris Faafoi reiterated his message to the payment sector that progress must be made on innovation and Open Banking.

James Brown talks to Idealog, explains the future of Open Banking in New Zealand on TVNZ’s Breakfast, and explains why banks risk losing clients. Meanwhile,Australian and New Zealand banks are facing new threats from platform companies.

Find out how Blockchain can become a key enabler of Open Banking, discover the strategic value of Blockchain, and find out why experts believe New Zealand is the ideal place to develop Blockchain technology.

The government has extended the timeframe of the Cyber Security Strategy refresh, to inform its new action plan.

Check out Kia Takat? ?-Matihoki, the Digital Readiness programme launched by Ministry of Education.  Also, support New Zealand’s digital transformation by adopting TechLeaders’ Digital Principles.

The Copyright Act is currently under review and any future changes will have an impact on emerging technologies and how we respond to them.

The announcement of New Zealand’s first CTO is close; the Minister has promised to appoint by the beginning of August

Read University of Waikato’s Dr Reuben Steff latest post on the implications of emerging technologies.

The Icehouse Flux Accelerator is currently accepting applications for its third cohort.

Discover why cyber risk is one of the most critical challenges of our time.

Want to know more?  Sign up for the FinTechNZ update, it’s free and will take less than a minute!