Kiwibank rolls out open banking across all channels

Kiwibank has rolled out open banking across its digital channels for individual and business customers, becoming the first bank in New Zealand to offer both open banking payments and data sharing through internet banking and its mobile app.

Customers can now make open banking-enabled payments and share financial data directly through the bank's online services. The rollout covers both retail and business users, while access elsewhere in the market is often limited to a single digital channel.

Open banking lets customers give approved third parties permission to access account data or initiate payments on their behalf. Banks and fintech companies argue that wider use of these services can expand choice for consumers and businesses and increase competition in financial services.

Kiwibank has partnered with local technology company Wych to connect with accredited third parties. It has also worked with New Zealand fintechs, including Volley and Akahu, as it expands the range of services available through the new setup.

Mark Stephen, Chief Customer Officer - Retail at Kiwibank, said the launch is intended to improve how customers manage money and access other services.

"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," Stephen said.

Kiwibank is delivering open banking-enabled data sharing, including most features required by regulation, six months ahead of its deadline. It linked that timetable to its broader technology overhaul, including work to modernise core systems and improve resilience.

Stephen said the bank's approach also reflects a decision to work with outside firms rather than build every component itself.

"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," Stephen said.

The lender has also taken a position on access charges. In June 2025, Kiwibank said it would not charge accredited third parties for standard API requests, removing one cost barrier for fintechs looking to build services on top of bank infrastructure.

Business uptake

Kiwibank expects businesses to be among the earliest users as open banking services become more widely available. Business customers could benefit from account-to-account payments, data sharing for funding applications, and tools that help automate reconciliation and cash flow management.

Elliot Smith, Chief Customer Officer - Business at Kiwibank, pointed to overseas markets where business adoption has moved quickly.

"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," Smith said.

The rollout includes small and medium-sized businesses. Customers with home loans arranged by New Zealand Home Loans will also be able to use the open banking functions.

Fintech links

Third-party providers involved in the launch said broader access across customer groups could help lift adoption. Kiwibank expects to begin onboarding all accredited third parties from next week.

"We're proud to help Kiwibank give more Kiwi and businesses a faster and more secure way to pay from their bank account," said James McCann, Founder of Volley.

Akahu said the wider rollout extends beyond consumer use cases to business services. Its tools are being used to connect business customers with apps, including payroll software.

"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," said Ben Lynch, Founder of Akahu.

Kiwibank said the rollout also includes customers in Niue, where it has provided designated transactional banking services since 2013. This extends secure data-sharing and payment services beyond New Zealand to a long-standing customer base.