Articles tagged with Westpac
Open Banking Launches in New Zealand: Faster Loans, Easier Budgeting & Secure Data Sharing
1 month ago | 177 viewsOpen banking officially launched in New Zealand on 1 December 2025, enabling faster loan approvals, easier bill management, and personalized budgeting through secure, regulated sharing of financial data with customer consent. The new system, regulated under the Customer and Product Data Act 2025, requires major banks to implement open banking capabilities and mandates accreditation for third-party data requestors to ensure security and trust. This initiative aims to boost innovation and competition in the banking sector, benefiting consumers, small businesses, and fintech companies by providing enhanced financial tools and services.
Tags: Scott Simpson Open Banking New Zealand MBIE Customer and Product Data Act 2025 ANZ ASB BNZ Westpac KiwibankGovernment Backs Community Housing Providers with New Loan Guarantee Scheme to Boost Social Homes
3 months ago | 337 viewsThe Government has introduced a new loan guarantee scheme to support community housing providers in delivering more social homes at a lower cost, with banks providing debt financing at reduced rates. This initiative aims to remove obstacles and inefficiencies in social housing delivery, with the Crown guaranteeing 80% of loans to eligible providers. The scheme, available until 2027, supports up to $900 million in new lending and refinancing, empowering community housing providers to expand and improve housing accessibility for those in need.
Tags: Government community housing providers loan guarantee scheme Nicola Willis Chris Bishop ANZ ASB BNZ Kiwibank Westpac