January 14, 2020
With the new year, we are restarting to visit some less-discussed but interesting FinTech geographies. We’re looking to feature some exciting players who have registered their presence through innovative and successful solution offerings. In the first article of this series, we feature companies from New Zealand.
New Zealand is one of the “next 20” promising FinTech geographies. It is a tech-savvy nation with ~ 90% of the population connected to the internet. New Zealand startups enjoy a simple regulatory system – a single tier of regulators. The World Bank ranks New Zealand as the number one country in the world with regard to ease of doing business and starting a business. In 2019, two key regulatory developments made New Zealand more promising for new players in the financial services industry: (1) the government initiated a digital identity project; (2) and it took a step closer to Open Banking. The FinTech community is excited and hoping for quick implementations of these steps, which will, in turn, create an infrastructure for innovation. The market is positive about FinTech growth in New Zealand. To understand who is winning the FinTech race in the country, here is a quick list of some of the prominent players from New Zealand, according to the MEDICI Startup Scanner: