New Zealand announces new fintech working group
The New Zealand Tech Industry Association (NZTech) is launching a new working group, FinTechNZ, which will focus on financial innovation and technology. This working group will be inaugurated in Christchurch, Wellington and Auckland next week.
The inauguration will be supported by the Ministry of Business, Innovation, and Employment (MBIE), which was one of the first to join as a founding member, and is a part of the core working group. It is understood many other organisations interested in fintech are now in the process of joining the association.
“So far, we have received expressions of interest from over 50 organisations, including banks, insurers, finance companies, government agencies, fintech start-ups and international giant Alibaba Group, who all want to actively participate in growing fintech in New Zealand,” says Mitchell Pham, FinTechNZ core working group leader and NZTech chair.
“What is powerful about fintech is that it is shaping the digital economy of New Zealand, as well as making it easier to connect ours to those that are bigger and faster-growing. This will accelerate our exports, trade and international business, especially with the large economies of Asia. As a cohesive sector in New Zealand, it will be easier for us to engage with the global fintech community.
“As we become much more connected with other economies and ecosystems, our businesses will have access to more connections and opportunities to engage and grow internationally,” adds Pham.
By Soumik Roy, editorial contributor to Banking Technology