Media Appearances

NBR - Banking first sector to come under consumer data right mechanism

November 10, 2022 - “Because of the weight of other regulation and compliance falling on banks at the moment – such as the new conduct regime and increased capital requirements, along with staffing and other supply chain constraints – we’ve told the Government that banks need time to enable quality products that will excite New Zealand consumers. This will take some... Read more »

Reuters - New Zealand government to introduce ‘open banking’ for consumers

November 10, 2022 - New Zealand Bankers’ Association chief executive Roger Beaumont said it is important to get the open data sharing right for consumers and they needed time to implement. “There may also be lessons from other countries the government could take into account as it develops the legal framework.”

Newshub - Expert disappointed open banking at least two years away

November 10, 2022 - Roger Beaumont from the New Zealand Bankers’ Association said it’s “really important to get it right because if you get it wrong there are some serious implications”.

TVNZ - Some experts divided on open banking

November 10, 2022 - “New Zealanders have plenty of choice already, we don’t actually need open banking for there to be competition and choice for New Zealanders.”

Newsroom - Open banking will give control to customers – but it comes with risks

November 10, 2022 - But NZ Bankers’ Association chief executive Roger Beaumont says it’s important we get it right. With so much new regulation and compliance, banks have told the Government they need time to implement challenges such as customer privacy and data security.

Business Desk - Mixed reaction to Adrian Orr reappointment

November 8, 2022 - “The banking industry worked closely with him in the early response to covid and was grateful for his support for banks to offer customers deferred or reduced repayments for around $70 billion in loans.”

NZ Herald - Banks unfair?

November 5, 2022 - Last year they made a direct contribution of $8.52 billion to the New Zealand economy by spending $6.12 billion running their businesses here and by paying $2.4 billion in tax. The total contribution is more than their combined profits.

NZ Herald - Negative equity and rising mortgage rates: Should we be worried?

November 4, 2022 - People who were facing any significant change in circumstance that would cause them difficulty paying their mortgage – such as losing their job – should ring their bank immediately.

Stuff - Banks’ big profits ‘mean they have duty to help struggling borrowers’

November 3, 2022 - “Banks are responsible lenders and when assessing a loan application they apply higher ‘serviceability’ rates to see if you could still repay the loan if interest rates go up. So typically, there’s a buffer already built in for borrowers.”

Stuff - Banks’ big profits ‘mean they have duty to help struggling borrowers

November 3, 2022 - “Anyone experiencing financial difficulty should contact their bank to discuss their options. The sooner you talk to your bank, the more likely they’ll be able to help. Options could include lengthening the term of your loan, to reduce the amount of regular repayments. In some cases, temporarily moving to interest-only repayments may also be an... Read more »