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Financial Tech Becoming Increasingly Important For NZ
April 6, 2022
Following recent research released by FinTechNZ showing how open finance and fintech could improve digital equity and financial wellbeing for Kiwis, a new piece of research reinforces the economic opportunity for New Zealand as the fintech sector grows at a rapid pace.
A new TIN report released today which focuses on fintech found that the New Zealand fintech sector has global revenues of nearly $2 billion and a compound annual growth rate of 32 percent, creating a 14 percent annual growth in high value jobs, FinTechNZ executive director Jason Roberts says.
The annual TIN report is a study of New Zealand's leading tech export businesses and includes analysis of Kiwi company revenues, market sectors, regional growth, ownership structures, R&D, economic impacts and detailed company profiles.
“It is great to see the data released by TIN showing that fintech plays an increasingly important role in economic growth for New Zealand creating growing exports and high value jobs,” Roberts says.
“Global fintech investment is growing rapidly as countries start to see the benefits of new financial technology innovation. Investment in UK fintech was seven times higher in 2021 than in the previous year, boosted by a record number of deals.
“We are helping connect New Zealand fintech firms, including large global brands such as Xero, as well as a growing number of high growth firms like Valocity, and helping them work together to attract talent and access global markets.
“FinTechNZ members are looking at attending the leading global fintech events again this year including the Dubai Seamless, London TechWeek and the Singapore Fintech Festivals.
“The growing national fintech community will also be gathering later this year for a fintech hui to share insights on global growth strategies.”
FinTechNZ, part of the NZ Tech Alliance, is the national financial innovation and technology association, bringing together fintech startups, financial service providers, banks, tech firms, investors and regulators, working together to help create a more equitable, sustainable and prosperous Aotearoa New Zealand.
New Zealand has been ranked one of Asia Pacific’s fastest emerging fintech hubs and one of the top 10 fintech destinations in the region.
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