Kiwibank has become the first bank in New Zealand to roll out open banking through all its digital channels for both individual and business customers — a step forward in delivering more choice, innovation and competition across the banking sector.
From today, Kiwibank customers can access open banking-enabled payments and data sharing directly through internet banking and the Kiwibank app. Kiwibank Chief Customer Officer – Retail, Mark Stephen, says the milestone reflects the bank’s ambition to deliver better outcomes for Kiwi.
“Open banking has the potential to transform how Kiwi manage their money, making it easier to pay, share data securely, and access more personalised services,” says Mr Stephen.
Open banking has the potential to transform how Kiwi manage their money, making it easier to pay, share data securely, and access more personalised services.”Kiwibank Chief Customer Officer – Retail, Mark Stephen
The bank is the first in New Zealand to partner with local tech company Wych to connect Kiwibank with accredited third parties quickly and securely. Kiwibank has been working with other local fintechs, including Volley and Akahu, to deliver open banking.
Mr Stephen says partnering is a deliberate strategy. “As a smaller bank, we’re choosing to collaborate to move faster and deliver more value to customers. We want to build strong partnerships with fintechs across New Zealand because that’s how we’ll bring new ideas to market more quickly, scale innovation, and continue to challenge the status quo in the banking sector.”
The bank is delivering open banking enabled data sharing, including most of the features required by the regulations, six months ahead of its regulatory deadline, enabled by progress in its transformation journey and investment in a modern, state-of-the-art technology platform. “This is a great example of how our transformation is enabling us to go further and faster – not just keeping up with change, but getting ahead of it,” says Mr Stephen.
Kiwibank says businesses are expected to be among the early adopters as open banking services continue to roll out. Kiwibank Chief Customer Officer – Business, Elliot Smith, adds: “Experience in more mature open banking markets like the UK and Europe shows businesses are often early adopters, driven by the potential for greater automation, cost efficiencies and stronger cashflow management. Open banking will enable the same opportunity here in New Zealand as the ecosystem develops.
“Fuelling business ambition is about unlocking access and choice. Open banking will enable Kiwi businesses to connect with a wider range of services and solutions over time, supporting more tailored and timely ways to manage their finances. For example, Kiwibank business customers can access apps via Akahu such as PaySauce, which simplifies payroll and compliance.”
Fuelling business ambition is about unlocking access and choice. Open banking will enable Kiwi businesses to connect with a wider range of services and solutions over time, supporting more tailored and timely ways to manage their finances."Kiwibank Chief Customer Officer – Business, Elliot Smith
In June 2025, Kiwibank became the first New Zealand bank to commit to not charging accredited third parties for standard API requests, removing barriers to innovation and supporting a more competitive ecosystem.
James McCann, Founder of Volley, says: “We’re proud to help Kiwibank give more Kiwi and businesses a faster and more secure way to pay from their bank account.”
Ben Lynch, Founder of Akahu, says: “Kiwibank’s approach sets a new benchmark for open banking in New Zealand. By making payments and data sharing available to all eligible customers, including small and medium-sized businesses, and backing that with practical API capability, Kiwibank is delivering real customer value. Akahu is proud to support Kiwibank in making secure, consent-based data sharing simpler and more useful for Kiwi businesses.”
Notes:
- Across the market, access to open banking-enabled payments and data sharing is often limited to a single digital channel (either internet banking or a mobile app), which can restrict uptake and availability, particularly for business customers.
- Kiwibank’s delivery of open banking unlocks practical benefits for businesses, which may include easier account-to-account payments, faster access to funding through secure data sharing, and the ability to automate reconciliation and better manage cashflow.
- Kiwibank is enabling open banking capabilities for customers with home loans arranged by New Zealand Home Loans, a mortgage adviser network focused on helping customers pay off home loans faster.
- For individual customers, Kiwibank’s delivery of open banking enables simpler, more seamless everyday money management and secure payments directly from customers’ bank accounts. It also gives them the opportunity to have greater control over how their financial data is shared and used for personalised services.
- Kiwibank is investing in a multi-year transformation programme to support faster-than-market growth, modernising its core technology and improving system resilience. This work is enabling a more agile and innovative bank, with the delivery of open banking services part of this programme.
- Kiwibank has enabled open banking capability for Niue, a long-standing and valued group of customers, extending the benefits of secure data sharing and payments beyond New Zealand. Kiwibank first started providing designated transactional banking services to all residents of Niue in 2013. As part of this process, the Government of Niue established Niue Commercial Enterprises Limited, which was then appointed by Kiwibank Limited as a Local Services Provider to assist in providing local agency services.
- Kiwibank expects that from next week it will be able to begin the onboarding process for all accredited third parties.
Media contact: External Communications media@kiwibank.co.nz.