What’s at stake: Upholding consumer trust and data integrity in New Zealand’s open banking push as formal data-sharing regulation approaches.
Background: Six years of industry-driven API standards have laid the foundation for open banking, offering a low-cost, collaborative alternative to costlier overseas models.
Main players: Payments NZ’s API Centre (banks and fintechs), government policymakers (Consumer and Product Data Act 2025), and Māori data experts (Nicholson Consulting) guiding ethical data practices.
Payments NZ’s API Centre has marked six years of work on open banking by releasing a new report and launching Ngā Tohu Ārahi, a set of data handling guidelines grounded in Māori data sovereignty principles.
The report, titled Shaping Open Banking Together, was timed to coincide with Matariki,
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Key points
What’s at stake: Upholding consumer trust and data integrity in New Zealand’s open banking push as formal data-sharing regulation approaches.
Background: Six years of industry-driven API standards have laid the foundation for open banking, offering a low-cost, collaborative alternative to costlier overseas models.
Main players: Payments NZ’s API Centre (banks and fintechs), government policymakers (Consumer and Product Data Act 2025), and Māori data experts (Nicholson Consulting) guiding ethical data practices.
