Fintech and the future

The most innovative businesses in our financial services sector are now working together to help shape the future of our economy, says Commerce and Consumer Affairs Minister Jacqui Dean.

Ms Dean welcomed the nationwide launch of the New Zealand Financial Innovation and Technology Association (FinTechNZ) last night at Wellington’s Stock Exchange. FinTechNZ is a new industry body for New Zealand financial technology firms.

“I congratulate the New Zealand Technology Industry Association and the other industry leaders for their foresight and getting behind FinTechNZ,” Ms Dean says.

“There have been huge changes in this industry over the past decade; innovations which have opened new markets, new practices and new products.

“From cloud-based accounting systems, to app-based mobile payments systems, financial technology firms are transforming the way we do business and use money. The tyranny of distance has no influence over many businesses due to innovations such as financial technology.

“The innovators and game changers in the industry have come together over the last year to create a unified voice that will help pitch New Zealand businesses to the rest of the world and further boost this growing and exciting industry.

“Government has a general strategy for encouraging innovation and high-tech business, and there is no hesitation to join this new community as a Founding Member and be actively involved in the Core Working Group that has brought us to the launch of a national approach.

“I wish FinTechNZ all the best and looking forward to promoting the New Zealand Financial Technology sector to the world,” says Ms Dean.