Open banking regulations due October after frustrating process

Open banking will be operational here from December. (Image: DepositPhotos)

Wed, 24 Sep 2025

Keenly anticipated regulations for open banking in New Zealand are set to be issued in October, but banking sources awaiting the fine details of the framework say the process has been frustrating.Commerce and Consumer Affairs Minister Scott Simpson’s office and the Ministry of Business, Innovation and Employment (MBIE) separately stated on Tuesday that the regulations were due in October.Cabinet is likely to meet on Sept 29, its last gathering before the end of the third quarter.That means the regulations will be in place when open bankin...

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