Akahu

It's been a busy end to 2024 for ASB's Open Banking team! After proudly informing the API Centre in late November that ASB had successfully implemented v2.1 of the NZ Open Banking Account Information standards; we are pleased to announce our partnership with Akahu, who will be our first third party provider to utilise these services. This collaboration marks a significant milestone in our journey to provide seamless and innovative banking solutions to our customers and enables ASB and our partners to reimagine the way customers interact with their financial data. This partnership offers a more integrated and user-friendly experience, ensuring that our customers have access to the best tools and services available.   A huge thank you to everyone involved in this journey. Your relentless efforts and collaboration have made these milestones possible. Let's continue to drive positive change and set new benchmarks in the industry! Bring on 2025! Josh Daniell Akahu Andrea McKain Jason Murray ASB Bank Marty Cohen Cubitt #OpenBanking #TeamWork #Milestone #Partnership

Open banking is getting an upgrade in New Zealand. Over the next two years we expect existing use cases to migrate to a dedicated regulatory regime (via the Customer and Product Data Bill), along with new products and features that are launched in the wake of the new regime.

Here's a quick overview on what's happening in Akahu-land. Featuring customers, API traffic, products, and regulation.

Thanks to the crew at Lighthouse Financial for discussing the present and future of open banking in New Zealand 🤓. (And James Blair Michael Vincent for adding your views as former bankers!) Episode link: https://lnkd.in/g7r4xuRJ

With NZ banks not setting any speed records with their plans for a payee verification service, Netsafe New Zealand is teaming with Akahu and Dolla - who have the wherewithal to match names with account numbers (with a couple of limitations in our un-open banking environment; see article). Dolla can also filter text scams. Netsafe is also partnering with CYBERA, a specialist in fraud recovery support and intelligence sharing, including local and international banks and crypto exchanges https://lnkd.in/gSuS-pgt