Broadcast United

Banks can control the Open Banking partner process, but conditions must be met

Broadcast United News Desk
Banks can control the Open Banking partner process, but conditions must be met

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Payments NZ is seeking regulatory authorisation to co-develop an API framework for working with fintech companies.

Open Banking is at a turning point.

The Commerce Commission intends to conditionally authorise bank-owned industry body Payments NZ to take the lead in developing a standardised partnership framework behind open banking, but the authorisation will only be for 18 months.

The regulator announced today that it has reached a preliminary

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