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New Zealand fintech companies get government support to boost competition

( April 30, 2025, 02:00 GMT | Official Statement) -- MLex Summary: A program to help financial technology companies has been launched to boost competition in the financial and banking sectors, the New Zealand government has announced. In a statement, the New Zealand Commerce Minister Scott Simpson said that the Financial Markets Authority has announced six firms that will take part in a pilot “regulatory sandbox” program, announced late last year. The statement added that the sandbox is a testing ground for fintech companies to experiment with new products and services in a controlled environment, before doing a full commercial launch. Simpson said that innovative solutions will challenge traditional banks and boost competition.The full statement by New Zealand’s Commerce Minister Scott Simpson follows:...

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