Fresh tech advances driving growth in fintech

Chantal Thomas
0 comments
FinTech

New Zealand financial sector will be able to provide their clients with unprecedented online advice from next year and a leading fintech expert today urged companies to start looking to the process sooner rather than later as the FMA is expecting substantial submissions early next year.

FinTechNZ general manager James Brown says Kiwi companies will not need to wait until the Financial Advisers Act (FAA) is reformed in 2019, according to the Financial Markets Authority (FMA).

Read more

China investor superstars seek tech opportunities

georgialinehamdg42f6x
0 comments
FinTech, Industry News

Source: https://exportertoday.co.nz/news/china-investor-superstars-seek-tech-opportunities

 

A high profile group of investors from China are coming to New Zealand seeking to learn more about opportunities with New Zealand technology companies.

New Zealand technology companies are invited to attend the event in Auckland on 16 October.

The Summit is being organised by the China Chamber of Commerce in New Zealand, Bank of China New Zealand (Ltd) and the New Zealand Venture Investment Fund. The event is also supported by New Zealand Trade and Enterprise.

Read more

Central Banking and Fintech—A Brave New World?

georgialinehamdg42f6x
0 comments
FinTech, Industry News

Source: http://www.imf.org/en/News/Articles/2017/09/28/sp092917-central-banking-and-fintech-a-brave-new-world

Governor, Distinguished Guests, Ladies and Gentlemen—Good morning!

Thank you, Mark [Carney], for that kind introduction, and thank you to the Bank of England for inviting me to this wonderful event.

This is a moment to celebrate 20 years of independence during which the Bank of England has been a stabilizing force for the U.K. economy, inspiring others in the world of central banking—not least because of your guidance, Mark.

Read more

The Everywhere Initiative

georgialinehamdg42f6x
0 comments
Industry News

Visa, the global payments company, has today launched its second annual Everywhere Initiative aimed at Australia and New Zealand start-ups that have women in leadership.

Visa’s Everywhere Initiative challenges start-ups to use Visa APIs (Application Program Interface) to create consumer or business-to-business payments solutions. This year’s competition is open for entries through October 23 and will culminate in a pitch event for finalists at the Women in Payments Symposium on November 21 in Sydney.

Read more

First successful court proceedings under NZ’s anti-money laundering law

georgialinehamdg42f6x
0 comments
Industry News

Source: www.cygnuslaw.nz

The first successful court proceedings have been brought for breach of NZ’s anti-money laundering (“AML”) law.  The High Court imposed a pecuniary penalty of $5.29m on the company, Ping An Finance (Group) New Zealand Company Ltd (“Ping An”).  Its director was banned from providing financial services.  The proceedings were brought by the Department of Internal Affairs, the relevant regulator.  The case is particularly relevant to NZ businesses subject to AML obligations, as it confirms the interpretation of some key provisions.

Ping An operated a foreign exchange & money remitter business in Auckland.  The Court found that Ping An was “seriously deficient in complying with a multiplicity of obligations under the Act” and that there were “widespread contraventions across several key areas which were not isolated or infrequent”.  The contraventions were clear and included failing to carry out customer due diligence, to keep records and to report suspicious transactions.

Read more

10 Fast Growing ANZ FinTechs

Jackie Clark
0 comments
FinTech, Industry News

Source: www.idc.com

SYDNEY, September 21st, 2017 – IDC Financial Insights today unveiled a list of 10 fast growing fintechs in Australia and New Zealand (A/NZ) as part of the broader FinTech 101 list for Asia/Pacific. “IDC’s FinTech Fast 101” refers to the fast-growing fintech players in Asia/Pacific based on extensive on-ground analysis of the dominant fintech players within the region.

Read more

Global Financial Centres Index 22

Chantal Thomas
0 comments
FinTech

The Global Financial Centres Index (GFCI) 22 has been released with New Zealand’s capital, Wellington, entering the rankings for the first time at 38th position.   The report is a comparison of the competitiveness of the world’s leading financial centres.  It analyses areas of competiveness, business environment, connectivity, stability and reputation.

The GFCI is updated twice a year, in March and September.

Read more

World Economics Forum, analysis of the outlook for Fintech

Chantal Thomas
0 comments
FinTech

Source: www.finextra.com

The World Economic Forum has just completed one of the most thoroughgoing studies into the effect of fintech on the financial services industry. Although ‘Beyond Fintech: A Pragmatic Assessment of Disruptive Potential in Financial Services’ isn’t the most imaginative title, the study contains over 150 interviews and accounts of ten international workshop sessions. The objective was to encourage collaborative dialogue to discuss insights and opportunities concerning fintech disruption within FS.

Read more

Blockchain in insurance: successful proof-of-concept shows it’s ready for prime time

Chantal Thomas
0 comments
FinTech

Article by Shaun Crawford on LinkedIn

Blockchain and distributed ledger technologies have the potential to change the traditional insurance model for the better and make the entire industry more efficient, innovative and profitable. Following a recent 20-week proof-of-concept project, EY – along with Guardtime and other collaborators – is building a working blockchain platform that will make that potential a reality by connecting every major stakeholder in the insurance value chain. Initially focused on marine insurance, the platform will be relevant and useful for all insurance markets. You can learn more about the proof of concept and platform on our landing page.

Read more

Join the FinTech conversation

Chantal Thomas
0 comments
FinTech

It has been a busy start to my new role as FinTechNZ’s general manager.  Our membership continues to grow and I now welcome you to our first monthly newsletter.  Our incredible growth reflects the rapid pace at which technology is transforming the financial sector.  Already I have engaged with emerging companies like identity platform Tradle who use Blockchain for KYC.  I have also met new members like health insurer NIB to discuss the launch of Frankie, New Zealand’s first artificial intelligent health insurance consultant.

Read more