New Zealand embraces open banking in expansion of data rights framework

Commerce and Consumer Affairs minister David Clark says move will promote competition.

The New Zealand government will make banking the first sector it applies its consumer data right (CDR) framework to, paving the way for open banking.

“Open banking ensures banks must share customer information if they request it, making it easier for New Zealanders to compare mortgage rates, apply for loans

Free Trial

Register for free to keep reading.

To continue reading this article and unlock full access to GRIP, register now. You’ll enjoy free access to all content until our subscription service launches in early 2026.

  • Unlimited access to industry insights
  • Stay on top of key rules and regulatory changes with our Rules Navigator
  • Ad-free experience with no distractions
  • Regular podcasts from trusted external experts
  • Fresh compliance and regulatory content every day
Register for free Already a member? Sign in