Kiwibank rolls out Open Banking for individual and business customers

Source: Kiwibank

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 (28 May), Kiwibank customers can access Open Banking-enabled payments and data sharing directly through internet banking and the Kiwibank app. Mark Stephen, chief customer officer – retail, Kiwibank, 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,” said 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.

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,” said Stephen.

Kiwibank says businesses are expected to be among the early adopters as Open Banking services continue to roll out.

Elliot Smith, chief customer officer – business, Kiwibank, added: “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.”

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, said: “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, said: “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.”

Further reading: BlinkPay and BNZ use Open Banking to test real-time payments capability