KPMG’s second report on tech reinforces that cost is a challenge for financial service firms as they upgrade legacy systems.
The New Zealand Banking Association applied in September for authorisation to collectively negotiate the price they pay for cash-handling services.
Model suggests Government kick-start and ongoing contributions could generate $10b of savings by 2043.
The Commerce and Consumer Affairs Minister’s support for the umbrella group follows a damning report that said it lacked a clear purpose.
The Sapere report highlighted concerns that the umbrella group has a focus on creating processes, not outcomes.
NZX lauds move as ‘practical and sensible’.
A decision from Cabinet on whether to proceed with legislation that would make it easier for KiwiSaver providers to invest in unlisted assets is expected this month.
Sydney-based private equity firm Mercury Capital has taken a 25% stake in investment firm.
Contributions rose 8.8% to $12.2 billion for the year, although non-contributor numbers are also on the rise, the FMA says.
Stefanie Drews of Amova, formerly Nikko, says global markets have become complex, fragmented, and need to be approached with care.
