Category: Technology

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BNZ the first NZ bank to achieve next open banking (open data) milestone

Source: BNZ statements

Bank of New Zealand (BNZ) has taken another critical step toward open banking—better described as open data—becoming the first bank in New Zealand to meet a major milestone set by Payments NZ.

BNZ has implemented the Payments NZ Account Information API v2.1 standards, which when open banking is fully operational, will enable New Zealanders to safely and securely share their financial information with approved providers.

“While it sounds a little dull, API v2.1 is really the engine room of open data. It’s the piece of the tech puzzle that means our customers have full control over what data they share, who they share it with and importantly, it gives them control to stop sharing their data too,” says Karna Luke, BNZ’s Executive of Customer Products and Services.

Payments NZ plays a key role in establishing the open banking system and has set New Zealand’s major banks the task of implementing Account Information API v2.1 standards by November this year. This follows the May 2024 requirement for major banks to support payments via APIs, enabling direct account payments through third-party apps. BNZ achieved this in 2023.

“That we’ve been able to reach this milestone three months ahead of the deadline reflects the commitment that BNZ has made to support the implementation of open banking. Over 250,000 BNZ customers are already benefitting from innovative services made possible through this technology, including services from Xero, Volley, and Blinkpay, all of which connect to BNZ through secure APIs,” says Luke.

What it all means for customers

This secure access to real-time financial data empowers third-party providers and fintechs to provide customers with new, innovative, and highly personalised financial products and services. Potential use cases include:

  • Personalised budgeting tools: Apps that offer tailored budgeting advice based on real-time financial data and spending habits, helping users manage their finances more effectively.
  • Customised savings plans: Solutions that design personalised savings plans and automate transfers based on users’ financial behaviour and goals.
  • Advanced financial insights: Tools that provide detailed analysis of spending patterns and identify new financial opportunities, enhancing users’ understanding of their financial situation.
  • Streamlined loan applications: More efficient loan processes that simplify and speed up approval by leveraging comprehensive account information.
  • Fraud detection and prevention: Facilitating third party apps or services to use real-time account data to identify unusual activity, improving security.

“Being the first bank in New Zealand to deliver this API demonstrates our focus on helping drive the future of open banking in New Zealand,” says Luke.

“We’re excited to see more fintechs and developers join those we’re already working with to leverage this technology to create innovative solutions that will benefit our customers and the country.”

“It’s also important to remember that banking services are just the beginning. The Customer and Product Data Bill currently progressing through Parliament will establish a Consumer Data Right (CDR) in New Zealand, enabling open data sharing across multiple sectors.”

This will further unlock digital innovation, making it possible to do things like instantly and securely verifying your identity online, via the information held about you by your bank, insurer or power company, or finding the best deal across utility or insurance companies and switching easily.

For more information about the Account Information API v2.1 and its capabilities, please visit https://developer.bnz.co.nz/

The post BNZ the first NZ bank to achieve next open banking (open data) milestone appeared first on BNZ Debrief.

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BNZ and Adminis sign API agreement to streamline foreign exchange in NZ banking first

Source: BNZ statements

In a move to enhance access to foreign exchange markets, Wellington-based fintech Adminis has signed an API agreement with BNZ—the first bank in New Zealand to offer an FX dealing API.

An API, or Application Programming Interface, is a secure tool that allows different software programmes to connect and share information automatically. With this agreement, Adminis customers can access BNZ’s comprehensive foreign exchange services directly from the Adminis platform.

Customers can exchange currencies in real-time and execute transactions almost instantly, lock in future rates to protect against market volatility, and put their funds to work quickly and securely, without delays from manual processing.

The agreement also provides continuous access to international markets, operating 24 hours a day, 5.5 days a week – from the opening of the Wellington market to the close of New York. This means Adminis customers can trade currencies and manage risks even when local markets, such as those in New Zealand, are closed overnight. This access spans major FX markets across the USA, Europe, and Asia.

Adminis CEO, Matan Gan-El, says, “We are excited to work with BNZ to bring this innovative solution to our platform, which supports over $11 billion in funds under administration for our clients. This agreement will enable our clients to streamline their foreign exchange transactions, optimise risk management, and make more informed decisions when investing and rebalancing their portfolios.

“The API integration will not only make it easy to automate foreign exchange transactions based on predefined criteria, but also facilitate locking in exchange rates through Forward Exchange Contracts, improving the speed and accuracy of deal booking while managing currency fluctuation risks.”

BNZ’s General Manager of Markets, Philippa Fourbet, says, “We’re proud to be the first bank in the country to offer an FX dealing API. Since 2018, BNZ has been at the forefront of API development in the banking sector, with more than 250,000 customers already benefitting from innovative products and services unlocked by this technology.

“This collaboration reflects our focus on using the latest technology to deliver tangible benefits for New Zealanders and businesses. We’re thrilled to be making it easier for businesses to manage their FX transactions, saving them valuable time and resources.”

For more information on BNZ’s APIs, please visit BNZ APIs – BNZ.

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Innovative electric barrier protects mudfish habitat | Conservation blog

Source: Department of Conservation

Written by Environment Canterbury.

About 200 trout have been relocated within Hororata’s Bealey Stream as part of a wider project to protect the ‘Nationally Critical’ Canterbury Mudfish/kōwaro.

A native freshwater Canterbury Mudfish/kōwaro | Photo: © Rod Morris

The Brown Trout were situated upstream of an underwater electric barrier, which is providing a safe haven for kōwaro in a pocket of habitat on Haldon Pastures Farm.

The solar-powered ‘fish fence’ was activated in 2021 and is thought to be the first of its type in the Southern Hemisphere. It consists of three underwater iron structures, which send out electric pulses to discourage trout from moving upstream – where they would otherwise predate on the mudfish. This has increased the upstream habitat size for this taonga species from about 800 metres, to 8,000 metres.

The project is a joint effort between Department of Conservation (DOC), Environment Canterbury, Fish and Game New Zealand, Fonterra and landowner John Grigg.

The mudfish team electric fishing for trout | Photo: Environment Canterbury

The agencies recently pitched in to relocate the residual trout population to the downstream side of the fence, to keep them away from the kōwaro.

An electric fishing method was used to capture the fish, which were then put into buckets, measured, and safely relocated. More than 70 trout were caught and transferred over a five-day period in early March, and since then, about 130 more have been moved.

Environment Canterbury Pou Matai Ko (Cultural Land Management Advisor), Steve Carrick, said this year’s low water levels were advantageous for electric fishing, as it improves access.

“This is the second year that we’ve got together for a week and come out and blitzed it. But this time, we were able to get to areas that we wouldn’t usually be able to.”

A brown trout caught by electric fishing | Photo: Environment Canterbury
The team measuring the trout | Photo: Environment Canterbury

He said the joint agency approach is key to the success of not just the trout transfer exercise, but the overall barrier project.

“It’s great to have those other agencies working with us, because their skillsets and knowledge bases, particularly from the DOC team – for the history of this place, gives us that long-term view.

“Of course, none of this work would be possible without the landowner’s cooperation. John’s willingness to give us access to the property and his support of these preservation initiatives, is invaluable.”

Steve and the team electric fishing for trout | Photo: Environment Canterbury

John is praising the ‘outside the box’ approach to protecting the kōwaro.

“It’s great to be involved in something so innovative, and totally different. Often you do have to think outside the square to protect nature.”

DOC biodiversity supervisor, Craig Alexander, said mudfish numbers have been declining over the years, and the barrier is one way of trying to secure populations into the future.

“The next round of population monitoring is due to be carried out in winter, so it will be interesting to see whether there’s any evidence yet of the barrier’s success.”

The joint team is also working with the barrier’s North American manufacture, Smith Root, to explore other ways of proving its functionality, without stressing the fish samples.

Check out the Environment Canterbury team as they relocate some of the trout.
Video: Environment Canterbury
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BNZ launches Tech Business Hub to empower early-stage technology businesses

Source: BNZ statements

New Zealand’s tech sector is set to get a boost thanks to the launch of the country’s first dedicated banking hub for early-stage technology businesses.

The Waikato-based BNZ Tech Business Hub is designed to address the unique needs of early-stage tech companies.

It offers BNZ customers access to bankers with specific training and expertise who are equipped to offer financial services to address the unique challenges and opportunities faced in the technology industries.

Tim Wixon, Head of Technology Industries at BNZ, says, “BNZ’s Tech Business Hub is not just a new offering – it represents a philosophical shift in how we approach banking for this sector. Technology businesses have distinct needs which have not historically been met by traditional banking models. Our hub will help fill this gap by offering practical guidance, advice, and tailored services to help accelerate sector growth.”

According to the Technology Investment Network, the top 200 New Zealand tech companies generated the second largest source of offshore revenue after dairy. The industry is also growing faster than any other in New Zealand and offers salaries around 30% higher than the New Zealand average.

“Technology Industries continue to be an increasingly important part of the New Zealand economy. Every year, we see more of our country’s tech companies succeed on the world stage and BNZ remains committed to assist wherever possible”, says Mr Wixon.

BNZ is ambitious in its support for technology companies in New Zealand, launching a range of innovative solutions in recent years to assist the sector, including Contracted Receivables Financing, Revenue Based Financing for SaaS businesses, and Project Scale Up, which provide high-potential and high-growth technology businesses with access to non-dilutive capital.

The new Tech Business Hub complements these offerings, underscoring BNZ’s commitment to fostering a vibrant homegrown tech ecosystem.

Tech Business Hub Team Manager – Figo Liu – says, “Tech businesses require banking partners who speak their language and understand their journey. Our goal is to nurture the tech and startup ecosystem by making it easier to start a business and grow.”

With the Tech Business Hub now up and running, BNZ is turning its attention to further ways that it can support tech businesses at all stages of their lifecycle.

“We believe that New Zealand’s tech sector has enormous potential, and we want to do everything we can to help these businesses succeed,” says Mr Wixon. “The BNZ Tech Business Hub is the next step in our commitment to this important part of our economy, and we look forward to working closely with tech entrepreneurs and innovators to help them achieve their goals.”

The post BNZ launches Tech Business Hub to empower early-stage technology businesses appeared first on BNZ Debrief.

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DOC’s famous trapping guide is back – and onto the 3rd edition  | Conservation blog

Source: Department of Conservation

Written by Vanessa Mander, DOC’s Predator Free 2050 Communities Advisor.

Life as a ranger means that you are at the front line and members of the public see us as a trusted source of best practice trapping information. The green uniform appears to act like a beacon of sorts in the field. I certainly found that! 

Questions I have been asked: 

“How do I find out what pests I’ve got?” to “What sort of humane traps are right for possums on my lifestyle block?”, to the very real, “my chickens are getting nailed by a stoat (or some other furry sod), what lures should I use in my traps to deal to it?”

Vanessa checking a tracking tunnel | Photo: DOC

But what if you too could possess these answers, all at your fingertips? 

Since 2019, we’ve been printing and revising our popular publication, the Practical Guide to Trapping. It is often referred to as a “ranger in your back pocket” because it’s full of important best-practice information to help you with your trapping work. There have been so many circumstances that this book has come to my rescue. It’s the trapping bible that people really should know about.  

The DOC Predator Free Communities Team is now launching the 3rd edition of this amazing guide. Since 2019, we have distributed well over 35,000 hard copies to communities, as well as 6,000 downloads from our website.  

Senior Biodiversity Ranger Archie with the 3rd edition of our trapping guide | Photo: DOC

What can we expect with this new and improved trapping guide? 

The third edition builds on all the great, best practice trapping and predator species information, and now also includes:

  • Information on live capture trapping
  • Updated NAWAC (National Animal Welfare Advisory Committee) passed humane trap list
  • Site specific updates on kauri disease and myrtle rust
  • Updated information on recording your trap catch
  • Updated suppliers and links
  • And so much more!  

We are also excited to share the Predator Control Calendar and Stoat and Rat Trap Checklist in this new edition, courtesy of our friends at the Predator Free New Zealand Trust. 

A DOC200 trap in the Waimakariri valley | Photo: Holly Thompson, DOC

These are used far and wide, and beloved across the motu, so don’t trust just us! Here’s what a range of people are saying about the Practical Guide to Trapping: 

“The trapping guide is a highly valuable booklet for communities and contains vital information on animal ecology as well as DOC best practice trapping methodology and biodiversity monitoring.  

A great resource, improved further with some of our own branded material including our popular Predator Control Calendar and our new Stoat and Rat Trap Checklist. The trapping guide has always been very popular at our Cam Speedy Roadshows across Aotearoa.” 

Jessi Morgan, CE of the Predator Free New Zealand Trust.

The guide has great trapping information for community groups | Photo: DOC
The Predator Free tohu on a trap | Photo: DOC

“This little booklet is packed full of useful information. Covering animal biology, best practice monitoring and solid trapping advice, it’s never far from hand and an excellent resource for individuals and communities whatever their experience or scale.”

Tim Sjoberg, Senior Team Lead at Pest Free Banks Peninsula.

“We find the trapping guides enormously useful for our teaching & trapping. The guides are a handy size and robust. They are very easy to follow, and we find the detailed plans and dimensions of trap boxes very useful.”

Peter Varey, Gisborne Boys High School.

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A group from Gisborne Boys High School at Okitu Scenic Reserve | Photo: Liam Clayon & the Gisborne Herald

And from our partners from Nelson Marlborough Institute of Technology, Becs Gibson uses the trapping guide in their Level 3 micro-credential Predator Trapping Methods course.

“It is great to have detailed information on pests and reputable ‘best practice’ trapping options in Aotearoa in one booklet. Selecting the right trap for the right environment and for the target predator is essential for successful conservation outcomes and this guide lays out all the information and detail to get you off to the right start.” 

Becs Gibson, NMIT.

“At the Visitor Centre’s in Taranaki, we find that the public really enjoy the books and they are popular!! Students who study Pest Ops [Western Institute of Technology Taranaki] must choose a target species and research it’s biology, behaviour, impacts and control methods – which the ‘bible’ serves as a great resource.” 

Georgina Ngametea, Taranaki DOC Visitor Centre & Western Institute of Technology Taranaki.

Georgina with an earlier edition of the trapping guide | Photo: Western Institute of Technology Taranaki
A ranger and volunteer setting a trap | Photo: DOC

Come and join in the action with us! You can pick up your own copy from your nearest Visitor Centre, or download a copy from the DOC website. But don’t worry if you already have one of the other versions, it’s still got some great best practice info in there and got some life in it yet!