Each week BusinessDesk and the NZ Herald’s Cooking the Books podcast tackles a different money problem. Today, it’s the changes coming from open banking law changes and a Commerce Commission investigation. Hosted by Frances Cook.
Your bank account is a fairly central part of your money life, and it’s currently undergoing changes from many different angles.
The Commerce Commission is investigating whether our big banks are overcharging and whether there’s enough competition.
There are problems with fraud and scams and questions over whether the banks are doing enough to stop it happening.
And change is under way for open banking, to let you take control of your own data and use your banking information to help your financial life run more smoothly.
It’s a lot, and you will start to see changes in how you interact with your bank because of it.
How to figure it out? Well, it’s a fairly complicated area, but I’ve found someone who has the know-how to actually make it interesting.
Local boy done good Adrian Smith spent years with the big banks in the UK, learning how some of the best in the business get it done, and is now back in New Zealand as one of those at the forefront of the change makers in our financial sector.
For the latest podcast, I talked to Smith, chief product officer and co-founder of Blinkpay.
For the interview, listen to the podcast here.