- Banks already invest significantly in fraud analytics and prevention to identify unusual customer spending patterns, warn customers of potential scams, and shut down fake bank websites and phone numbers used in scams, he says.
- “To truly strengthen New Zealand’s scam defences, everyone in the ecosystem needs to play their part – and that includes government, telcos, social media companies, and search engines. Banks can’t protect New Zealanders on their own.”
- BNZ chief executive Dan Huggins has been elected chair of the New Zealand Banking Association and took up the role on 1 April. ANZ chief executive Antonia Watson was elected deputy chair. The chair and deputy chair take on their respective roles for two years. Mr Huggins says it’s an honour to represent the New Zealand... Read more »
- One of the things that I hadn’t appreciated before meeting with the NZBA was that in many cases, banks don’t have much discretion under the Credit Contracts and Consumer Finance Act to give quick loans and overdrafts in an emergency – the regulations simply don’t allow it.
- Banking Association Chief Executive Roger Beaumont told Mike Hosking that the commission also recognised the impact of industry regulation. He says the regulation banks have been required to do is off the charts and has been a handbrake on innovation.
- “We are pleased to see the commission recognises the significant impact regulation has on consumers,” said New Zealand Banking Association chief executive Roger Beaumont.
- “Our banks embrace competition and support transparent and easy access to banking services for all New Zealanders. Banks will provide constructive feedback on the draft recommendations.”
- “We are pleased to see the commission recognises the significant impact regulation has on consumers. Our banks embrace competition and support transparent and easy access to banking services for all New Zealanders.”
- “Regulatory burden has been a real impost and barrier to innovation, and so if we can get some relief from some of those regulatory requirements, then it will allow banks to become able to spend more time and more resources on innovation.”
