Exploring innovative solutions to improve access to basic transaction services

Fintech innovation, and adopting more lateral approaches to enable better financial access and literacy, has the potential to transform people's lives. In parallel with new approaches and solutions, different fintech-enabled business opportunities will arise.

You’re invited to join us for a special consultation roundtable event led by RBNZ and CoFR (the Council of Financial Regulators), in conjunction with the Commerce Commission and the FMA. This important session seeks feedback from FinTechNZ members on how to enable basic banking capability for unbanked or financially disadvantaged Kiwis. We will also explore areas of financial exclusion where fintech enablement can make a difference.

Event Details

Date: Tuesday, 3 June 2025
Time: 10:00 AM - 12:30 PM
Location: Emerge, Level 9, 110 Symonds Street, Grafton. (In-person only)
Cost: Free (This is a members only event)
Format:
- Opening from FinTechNZ Executive Director Jason Roberts with Emerge
- Insights from Westpac research
- Presentation from RBNZ
- Facilitated breakout discussions
- Group sharing of insights
- Networking lunch

Note: only 50 spaces available*

About the Consultation

Transaction accounts are vital for people to participate in the economy and society, but mounting evidence shows that some New Zealanders struggle to open them.

The Council of Financial Regulators (CoFR) is exploring the concept of a basic transaction account, which could make it easier for some people to open accounts so that they can receive, spend, store and save money.

Many of our members will be familiar with our FinTechNZ collaborative submission roundtable format, where you can directly hear about, and then personally share your views with the government on important issues or topics.The findings will be collated by RBNZ and will form the basis of feedback for the submission process.

Session Purpose

This session will draw together the collective expertise of industry partners and regulators to collaborate on possible solutions and inform decision-making on next steps. To assist, we will have presentations from our hosts Emerge, Square one, and Westpac, on how they provide various options for (digital) banking capability.

The purpose of this event is twofold:

Ideation: To explore the concept of a basic transaction account, how they work, and the key ingredients for basic transaction accounts to be successful in New Zealand.
Solutions: To explore the potential role of fintech-led and the industry in piloting basic transaction accounts to support financial inclusion, and to consider the regulatory support that could be required to enable the widespread availability of basic transaction accounts.

Important Resources

If you have any questions about this event, please contact us at info@fintechnz.org.nz

We look forward to your participation in this important discussion.

*Limited seats available. Your registration will be confirmed by FinTechNZ to secure your spot.

Contact the host of Digital payments for all (Auckland)

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