Enabling open banking partnerships and innovation

In late 2022, the API Centre terms and conditions were updated to give Payments NZ the ability to set implementation plans for API Providers that outline the minimum requirements they must meet to make a standardised API technically and operationally ready for use with Third Parties.

Payments NZ and its API Council (which is made up of representatives from across the industry) created the implementation plan through several rounds of consultation with a range of organisations, including banks, large companies and startups. The process for this is outlined in the terms and conditions.

The plan satisfies three key conditions:  

  • Promotes system efficiency, security and innovation through the use of the API standards by API Standards Users in accordance with the API Centre terms and conditions;
  • Facilitates API Standards Users entering into partnerships to bring innovation to market more effectively and efficiently; and
  • Specifies implementation requirements (including timeframes) that are reasonable for API Providers to meet.

More than just timelines

While the plan is focused on key milestones for our largest API Providers (banks) to be live with the API Centre’s standards, it is also about minimum requirements which ensure all API Providers can deliver to a common definition of market readiness. This includes technical API implementation, consistent customer experiences and API Providers being operationally ready to partner Third Parties.

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 more  

Implementation Reporting

Here you will find the Implementation Progress Reporting from the five largest API Providers.

Read more  


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