Menu
Fintech emerges as key opportunity for NZ innovators

Fintech emerges as key opportunity for NZ innovators

A new industry body, FinTechNZ, aims to place New Zealand on the financial services technology map.

Mitchell Pham, leader of new industry group FinTechNZ, aims to build technology bridges between new Zealand and the global banking and finance industry.

Mitchell Pham, leader of new industry group FinTechNZ, aims to build technology bridges between new Zealand and the global banking and finance industry.

The once dry niche of financial services technology is emerging as a hot topic among New Zealand technology developers.

Last year’s TIN 100 report on the local ICT sector highlighted fintech as the fastest-growing technology niche, notching up increased sales of 31 per cent year-on-year – twice the rate of the overall industry.

Last October, the government responded with its Kiwibank FinTech Accelerator, funded by Callaghan Innovation and run through Creative HQ in Wellington.

Now the sector has its own industry body, FinTechNZ, which hosted a visit from a UK trade delegation in Auckland last week.

FinTechNZ leader Mitchell Pham says the visit has paved the way for increases in financial innovation and technology development business between the two countries.

The delegation met government agencies including MBIE, regulator the Financial Markets Authority and the New Zealand Venture Investment Fund.

It also delivered demonstrations at innovation space GridAKL and met with more than 100 local fintech entrepreneurs.

“Many direct business connections have been made,” Pham said. “We have now established the beginning of an important relationship and they are already talking about future visits with more UK companies coming to New Zealand.”

One of the reasons the segment is so hot right now is that the sector is poised for transformation and disruption. To innovators, that spells opportunity.

The term ‘fintech’ used to apply mainly to back office processing and old school payments systems, but that has totally changed. The focus now is squarely on the next wave of consumer-focused technologies, mobile, peer-to-peer, social, and the hugely disruptive potential of Blockchain.

Last April, the website Business Insider even published a list of the 40 coolest people in UK fintech.

Pham said New Zealand is an ideal market for innovating and testing new fintech developments before rolling out to other larger markets around the world.

The UK, meanwhile, is an international hub that could give local businesses more access to the global market, investment capital and expertise.

“FinTechNZ are working to establish more of these direct relationships with other strong fintech nations and hubs, including Australia, Singapore, Hong Kong and New York,” Pham said.

“This will enable Kiwis to innovate for the global market and to export our innovations.”


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags New ZealandbankingPaymentsbanking mobilebanking and financepayment solutionsBlockchainfintech

Featured

Slideshows

Malwarebytes shoots the breeze with channel, prospects

Malwarebytes shoots the breeze with channel, prospects

A Kumeu, Auckland, winery was the venue for a Malwarebytes event for partner and prospect MSPs - with some straight shooting on the side. The half-day getaway, which featured an archery competition, lunch and wine-tasting aimed at bringing Malwarebytes' local New Zealand and top and prospective MSP partners together to celebrate recent local successes, and discuss the current state of malware in New Zealand. This was also a unique opportunity for local MSPs to learn about how they can get the most out of Malwarebytes' MSP program and offering, as more Kiwi businesses are targeted by malware.

Malwarebytes shoots the breeze with channel, prospects
EDGE 2019: Channel forges new partnerships during evening networking

EDGE 2019: Channel forges new partnerships during evening networking

Partners, vendors and distributors reconnected during a number of social gatherings during EDGE 2019. The first evening saw the channel congregate for a welcome party at the Hamilton Island yacht club, while the main poolside proved to be the perfect stop for a barbecue on the final night.

EDGE 2019: Channel forges new partnerships during evening networking
Show Comments