Well it’s been another busy month for the tech community, with a few surprises thrown in, and we’re looking forward to seeing the Government’s next move in the CTO process now that Minister Woods has retracted Derek Handley’s offer. Alternatively, we watch with interest for developments in the private sector, as NZTech CEO Graeme Muller astutely calls for a non-government CTO.
In the international space, the Financial Conduct Authority (FCA) in the UK has launched the Global Financial Innovation Network (GFIN), which currently includes 12 global regulators. The aim is to build a global sandbox, and if New Zealand becomes a member, I believe this environment will give us the edge to scale multiple FinTechNZ companies onto the global stage. FinTechNZ is planning to write to officials to suggest New Zealand will benefit from involvement in this global initiative.
Closer to home, over the last few months we have been going through the consultation process to develop a governed model for FinTechNZ. That is, we are establishing 12 Board seats, in keeping with the NZTech Alliance model. This means we will have six seats up for election in October across all the different categories of membership; we have also agreed on six working groups which are: Open Ecosystem; InsurTechNZ; International; Start-ups; Test Environment, and a FinTech Investor Guide. Each group will require a Chair and Deputy; now is the time to get involved so please get in touch if you would like to nominate yourself for a key role in any working group.
We are also using the results of the recent FinTechNZ survey to help us shape future organisational changes. Thank you to everyone that took the time to complete the survey, which provided us with some real insights. For example, over 80 percent of respondents would prefer we host bi-monthly events instead of the current quarterly presentations. You also told us that Cyber Security, Digital ID and Open Banking are the top three areas you would like to see us focus on; and you see the main benefit of membership as networking, and collaboration within the wider financial ecosystem. Look out for changes to FinTechNZ that reflect these survey results in the coming months.
The winner of the survey prize – two tickets to this years NZ FinTech Summit – is David Cole-Barker from Quanton, well done and see you at Summit on the 29th of November; FinTechNZ and Finnotec have been working hard to make this a day to remember. The program is taking shape and opportunities to get involved are slim, if you want to host or sponsor a session then get in quick.