BNZ and BlinkPay to accelerate open banking in New Zealand

BNZ today announced it has joined forces with leading New Zealand open banking fintech BlinkPay.

The investment will enable BlinkPay to accelerate and scale its innovation and product development through access to BNZ’s resources and expertise.

With BNZ as BlinkPay’s new owner, co-founder Adrian Smith becomes the fintech’s CEO, ensuring BlinkPay retains its own leadership and decision-making, along with its entrepreneurial spirit and startup culture.

“As a Māori-led business, we bring a unique perspective to financial innovation. BNZ understands and values this – and they’re backing our vision while enabling us to retain our startup DNA,” Smith says.

“Our kaupapa has always been about making financial services work better for all New Zealanders. BNZ’s support gives us the resources to accelerate our mission and help grow the open banking ecosystem across Aotearoa.”

BNZ CEO Dan Huggins says the investment builds on BNZ’s established leadership in open banking.

“BNZ has been at the forefront of open banking in New Zealand since 2018, with more than 250,000 customers already benefiting from innovative financial services enabled by BNZ’s open banking technology.

“This represents the next phase in our journey. With BNZ supporting BlinkPay’s innovation and agility, we can accelerate the development of new products and services that will benefit all New Zealanders.

“We’re proud to be investing in a team that has proven their ability to innovate and deliver.”

The partnership will focus on developing new open banking capabilities that improve financial outcomes for consumers and businesses across Aotearoa New Zealand.