Finance technology: FinTechNZ
The tech sector has become New Zealand’s second biggest export earner, and fintech (financial technology)is now the second largest tech sub-sector by revenue.
Kiwi fintech firms generate $2.14 billion in export revenues.
To support the export growth and momentum, FinTechNZ, in collaboration from New Zealand Trade and Enterprise (NZTE), has launched a nationwide survey to understand what New Zealand businesses experience with new global markets.
The survey will generate community-led data insights, including key weightless export issues and barriers to market.
The results will help inform export focused fintech companies and NZTE’s work supporting firms to become export-ready and grow internationally.
Eighty percent of fintechs are exporters so the results of the survey and the future direction for New Zealand really matters.
Post-Covid NZ companies are assessing markets and destinations, such as the growth and proximity of Asia markets. The new UK free trade agreement is significant as well.
Tech is changing the way the finance industry operates and delivers services. The market is undergoing a major shift leveraging innovative and trail blazing fintech, such as the shift away from plastic card payments.
This tech advancement has majorly driven the growth of fintech across the globe.
Fintech is here to stay.
As technology improves and becomes even more ingrained in the day-to-day life of people, there will be more embedded finance, such as payments and lending and more embedded insurance than ever before.
No matter how centralised, or not, these solutions are, or will be, the future looks bright.
