Industry-led open banking
From 2024-2026, the industry had set its own implementation milestones to successfully deliver open banking for Aotearoa New Zealand.
Payments NZ and its API Council created and evolved the implementation plan during this time, working in consultation with a range of organisations, including banks, large companies and startups. The process for this is outlined in the terms and conditions.
When regulated open banking went live on 1 December 2025, nine Third Parties, in partnership with our four largest banks, already had open banking-enabled propositions live, delivering value to customers.
We report monthly on the uptake of open banking in Aotearoa. Check out our monthly updates (with statistics).
Regulated open banking
The Customer and Product Data Act 2025 creates a legal right for Customers to access and share their data or authorise payments.
On 1 December 2025, designation of the banking sector (referred to as “open banking”) went into effect, along with banking-specific regulations and regulated standards.
The regulated standards mandated by the Customer and Product Data Act 2025 are named versions of the API Centre standards that have been officially incorporated by reference under licence from Payments NZ.
The regulation of open banking standards can be found here.
The technical detail underpinning regulated standards can be found on the API Centre confluence space at the links below:
- Account Information API, Payment Initiation API and the API Security (all v2.3.3) here
- Customer Standard v1.1 here
- All users should be familiar with our Disclaimer
In this section
Minimum Open Banking Implementation Plan
The Minimum Open Banking Implementation Plan confirms the minimum requirements and timelines that five API Providers (ANZ, ASB, BNZ, Westpac and Kiwibank) must have standardised APIs technically and operationally ready for use by the centre’s Third Parties.
Read moreImplementation Reporting
Here you will find the Implementation Progress Reporting from the five largest API Providers.
Read moreExemptions
Our governance model includes a collaborative, pragmatic and transparent process for handling breaches, the remedy of breaches and, where applicable, allows Standards Users the ability to request an official exemption.
Read more