Partnership boosts open banking growth
BNZ has announced a strategic partnership with open banking fintech BlinkPay to accelerate the development of open banking in New Zealand.
This collaboration allows BlinkPay to leverage BNZ’s resources and expertise to enhance its innovation and expand product offerings, furthering the reach of open banking technology.
Investment to drive innovation in fintech
Under the new arrangement, BNZ has become BlinkPay’s primary owner, positioning BlinkPay to scale its product development efforts.
Adrian Smith (picture above left), BlinkPay’s co-founder, steps into the CEO role, ensuring the company maintains its independent leadership, entrepreneurial spirit, and Māori-led vision.
“As a Māori-led business, we bring a unique perspective to financial innovation,” Smith said. “BNZ understands and values this, supporting our vision while allowing us to retain our startup DNA.”
Accelerating financial inclusion for all New Zealanders
BlinkPay’s focus remains on creating financial solutions that work for everyone.
“Our kaupapa has always been about making financial services work better for all New Zealanders,” Smith said. “BNZ’s support gives us the resources to accelerate our mission and help grow the open banking ecosystem across Aotearoa.”
BNZ’s commitment to open banking leadership
Dan Huggins (pictured above right), CEO of BNZ, expressed pride in BNZ’s role in advancing open banking, building on its achievements since 2018, with more than 250,000 customers already using BNZ’s open banking solutions.
“This represents the next phase in our journey,” Huggins said. “With BNZ supporting BlinkPay’s innovation and agility, we can accelerate the development of new products and services that will benefit all New Zealanders.”
Looking ahead: A focus on consumer benefits
The partnership will focus on enhancing open banking capabilities to improve financial outcomes for consumers and businesses across New Zealand.
BNZ’s investment is expected to fuel BlinkPay’s ongoing efforts to develop technology that makes banking simpler, more inclusive, and efficient for users nationwide.
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