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Open-banking provisions move a step closer, with New Zealand government seeking feedback

By Saloni Sinha ( September 3, 2024, 06:55 GMT | Insight) -- New Zealand has taken another step towards establishing an open-banking regime, with the government kicking off consultations on the development of regulations for data portability in the sector, with a view to implementing the new regime by the end of 2025. According to a discussion paper published last week, the government is seeking feedback on proposals to designate the banking and the electricity sectors under the Customer and Product Data Bill, which is expected to pass in 2025.New Zealand has taken another step towards establishing an open-banking regime, with the government kicking off consultations on the development of regulations for data portability in the sector, with a view to implementing the new regime by the end of 2025....

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