“Välkommen Till Aoteoroa” (Welcome To Aoteoroa) Dr Anna Breman

Monopoly Watch NZ welcomes the outrageously positive appointment of Dr Anna Breman, former Deputy Governor of Sweden’s Riksbank. as NZ’s next Reserve Bank Governo and looks forward to her leading the reform and reset of RBNZ.

“We applaud the Minister of Finance's appointment of Dr Breman,” says Monopoly Watch’s Tex Edwards. “Sweden (and the rest of Scandinavia) has long been a world leader in banking reform, providing low-cost and high-quality service to consumers.”

Sweden’s Riksbank has been a leader in Europe in Neo Challenger banking and has a mortgage market that has margins ½ the size of NZ, with real banking competition, which has evolved since the Swedish banking crisis of the early 1990s.

Alongside the impressive capitalisation of neo/challenger banks, the Riksbank also pioneered introducing a digital central bank currency (e-krona) as part of Sweden's move towards a cashless society.

This reflects a paradigm shift in how governments approach modernising and focusing on competition in key sectors. Australia has had numerous problems implementing innovative solutions in its banking sector, and thus is not a reliable benchmark for NZ. MWNZ is confident that appointing someone outside of Wellington, Auckland, Melbourne, and Sydney will bring a fresh injection of international leading governance, transparency and innovation to the banking sector – something we have seen since NZ's early adoption of EFTPOS in 1985.

Extending our horizons beyond NZ/AUS will see increasing capitalisation of Neo-Challenger banks. The total Neo-Challenger market in Scandinavia is expected to reach $192 billion by 2028, with Klarna leading the way. For too long, challenger banking has been stifled by lobbying and the entrenchment of high barriers to entry by the hands of the Big 4 Aussie Banks.

“When DR Anna Breman has finished reforming and resetting New Zealand banking, we’d welcome her Scandinavian colleagues to help fix competition law, social housing, electricity, supermarket food distribution and aviation,” says Edwards.

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