April 6, 2022
Following recent research published by FinTechNZ showing how open finance and fintech could improve the digital equity and financial wellbeing of Kiwis, new research bolsters the economic opportunity for New Zealand as the fintech sector grows develops at a rapid pace.
A new fintech-focused TIN report released today found that the New Zealand fintech sector has global revenues of nearly $2 billion and a compound annual growth rate of 32%, creating annual growth of 14 % of high-value jobs, said Jason Roberts, chief executive of FinTechNZ. said.
The TIN Annual Report is a study of New Zealand’s leading technology exporting companies and includes an analysis of Kiwi company revenues, market sectors, regional growth, ownership structures, R&D, impacts economic and detailed company profiles.
“It’s great to see the data released by TIN showing that fintech is playing an increasingly important role in New Zealand’s economic growth, creating growing exports and high-value jobs,” Roberts said. .
“Global fintech investment is growing rapidly as countries start to see the benefits of innovation in new fintech. UK fintech investment was seven times higher in 2021 than the year before, stimulated by a record number of transactions.
“We help connect New Zealand fintech companies, including big global brands like Xero, as well as a growing number of high-growth companies like Valocity, and help them work together to attract talent and access global markets.
“FinTechNZ members plan to participate in major global fintech events again this year, including Dubai Seamless, London TechWeek and the Singapore Fintech Festivals.
“The growing national fintech community will also come together later this year for a fintech hui to share ideas on global growth strategies.”
FinTechNZ, part of the NZ Tech Alliance, is the national association for financial innovation and technology, bringing together fintech startups, financial services providers, banks, technology companies, investors and regulators, working together to help create a more equitable, sustainable and prosperous Aotearoa Zealand.
New Zealand has been ranked among the fastest emerging fintech hubs in Asia-Pacific and one of the top 10 fintech destinations in the region.
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