FinTechNZ Wrap-Up: 2024 Highlights and What’s Ahead 🚀

Kia ora,

As 2024 draws to a close, we’re reflecting on a year of progress and potential across the fintech ecosystem. From policy milestones to exciting developments in innovation and regulation, it’s clear that Aotearoa’s fintech sector is continuing to make its mark and we have a big year coming in 2025.

On a personal note, I’ve been privileged to meet hundreds of our members in person this year, and have shared many conversations across the full spectrum of our membership from start-ups to large corporates; from government agencies to SMEs.

In all of these conversations, I’ve been struck by the goodwill and generosity of our members. Our sector’s shared understanding of the benefits of working together as a group to lift all boats is inspiring to witness, and gives me a great deal of personal drive.

That personal drive has led to a real focus on deepening our connection with government officials and agencies to drive change that makes it easier for you to focus on the (big) business of fintech.

Here’s a snapshot of what we’ve achieved together and what’s on the horizon for 2025:

📜 Government and Policy Wins

Our community’s ongoing engagement with Minister Bayly’s office has focused on strengthening the fintech sector’s foundations through four key workstreams and legislative advocacy. Small but significant gains we look forward to seeing good progress on in 2025 include updates on Consumer Data Right (CDR) legislation and announcements on competition.

We’ve also been advocating for increased fintech competition, and we’re pleased to see recent announcements from Minister Willis on reducing barriers to market entry for contender banks. We look forward to seeing action following these encouraging words and will monitor this closely. 

The CBDC consultation by the RBNZ drew record feedback, with strong support for cash and privacy as critical elements of the future digital economy. You can read the full feedback document and the RBNZ’s response here.

🛠️ Fintech Sandbox Announced

A major highlight this year has been the progress on the Fintech Regulatory Sandbox pilot, enabling fintechs to innovate in a controlled environment under FMA oversight. This initiative will unlock significant opportunities for emerging businesses while boosting consumer trust and confidence. Read more.

🎤 Events and Engagement

• FinTechNZ Hui Taumata 2025
  
  We’re already gearing up for March’s Hui, with an exciting agenda featuring keynote speakers, industry sponsors, and the ASX Innovation Zone showcasing cutting-edge solutions. 2025 will be a big year in fintech, and the Hui agenda is focused on accelerating the good work so many have been advocating for. We look forward to seeing you there! Check out the programme here. 
  
  Don’t forget to access your 2-for-1 member offer on early bird tickets now > 
  
  
• Innovation Hub and the Creative HQ Fintech accelerator
  
  In line with our focus on better enabling earlier-stage fintechs, it’s been heartening to see so much sector collaboration and support this year. Initiatives like the FinTechNZ Growth Capital Summit and the newFinTech Hub—a collaboration with GridAKL—are helping connect hubs across Auckland, Wellington (Creative HQ), and Christchurch (Ministry of Awesome).
  
  CreativeHQ has also recently announced the Fintech Accelerator, set to kick off early next year with over 10 exciting fintech companies. Many of these companies will exhibit or pitch at the HudsonGavinMartin Pitch Breakfast at the FinTechNZ Hui Taumata in March.

🌟 Looking Ahead to 2025

As we take time to reflect and begin preparing for the year ahead, it’s clear that 2025 will be a watershed moment for fintech in Aotearoa. Now is the time to be bold, drive innovation, and work together to shape the future of the sector.

Key areas of focus include:

• Strengthening the ecosystem through collaborative advocacy.
• Driving international partnerships and innovation programmes.
• Expanding our regulatory frameworks to enable growth and competition

On behalf of myself, our board, and the NZTech Group team, I’d like to thank you for your active engagement this year. Together, we’re driving meaningful change for New Zealand’s fintech sector.

Have a safe and happy holiday season, and we look forward to collaborating with you in 2025! 

Meri Kirihimete!
Jason Roberts
Executive Director

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Read full news here: FinTechNZ Wrap-Up: 2024 Highlights and What’s Ahead 🚀

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