Boosting financial innovation in NZ
The Financial Markets Authority (FMA) has officially joined the Global Financial Innovation Network (GFIN), reinforcing its commitment to fostering innovation within New Zealand’s financial services sector.
This move opens up new opportunities for collaboration and knowledge sharing with international regulators on emerging trends and technologies.
A global framework for cooperation
GFIN is designed to facilitate cooperation between financial regulators worldwide, providing a platform to exchange experiences and strategies related to financial innovation.
The network focuses on key topics like artificial intelligence and tokenisation, helping regulators work together to address these advancements in a rapidly evolving landscape.
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Efficiency for innovative firms
Daniel Trinder (pictured), FMA’s executive director of strategy and design, highlighted the value of this global collaboration.
“Membership of GFIN will provide the FMA with greater opportunities to collaborate with and learn from other regulators across the globe,” Trinder said.
Trinder said that GFIN also offers innovative firms an easier path to navigate regulatory requirements as they expand across international markets.
FMA’s role in supporting fintech
FMA, which this week released research on the adoption of AI in New Zealand’s financial services, continues to support NZ’s fintech sector through initiatives like the Fintech Forum, which serves as a central hub of regulatory guidance and resources. For more information, visit fintech.govt.nz.
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