Skip to main content


      The banking and finance sector in Aotearoa New Zealand is experiencing a period of transformative change.

      Groundbreaking technological innovations, evolving consumer expectations, and regulatory changes are reshaping the industry. Banking and financial institutions play a crucial role in our economy, acting not only as financial intermediaries but also as pillars of societal trust and innovation. As digital transformation unfolds, customer behaviours are evolving. The demand for seamless, personalised experiences is pushing organisations to innovate and adapt with agility and creativity. This report explores the factors driving transformation in the banking and finance sector, alongside actionable recommendations to ensure New Zealand’s banking and finance sector is set up for success in an evolving landscape.


      Download

      Navigating tomorrow for Aotearoa's banking and finance sector

      Insights across digital and transformation, risk and regulation,
      and sustainability.



      The banking and finance sector in Aotearoa New Zealand stands at the precipice of transformative change. This landscape is being reshaped by an unprecedented fusion of technological innovation, evolving consumer expectation and regulatory change. The role of banks in our economy is multifaceted; they are not only financial intermediaries but also pillars of societal trust and innovation.
      Nicola Raynes

      Nicola Raynes-Pene

      National Industry Leader - Financial Services

      KPMG New Zealand



      Key insights

      Digital-first experiences

      The digital revolution has led to enhanced operational efficiencies and a significant shift in customer expectations.

      The drive for seamless digital-first experiences compels organisations to innovate at an unprecedented pace.

      Evolving risk management

      With the rise of cyber threats and financial uncertainties from global events, the necessity for a robust, forward-looking risk management framework is more critical than ever.

      Banks and financial institutions must be resilient, agile and equipped to anticipate and mitigate risks.

      Regulatory complexity

      Compliance with an increasingly complex array of local and international regulations remains a challenge.

      New Zealand banks and financial institutions must balance these demands while maintaining trust, integrity, and transparency.

      Embracing sustainability

      Sustainability, alongside ESG more widely, is emerging as a cornerstone of strategic priorities.

      This shift is driven by regulatory requirements and growing consumer and stakeholder awareness.


      Contact us

      We hope you enjoyed this report and would be delighted to discuss its content and insights in further detail.

      Please get in touch if you have any questions or would like to schedule a conversation.

      Nicola Raynes-Pene

      National Industry Leader - Financial Services

      KPMG in New Zealand

      Ceri Horwill

      Partner - Risk Consulting, Head of Banking & Finance

      KPMG in New Zealand



      Related KPMG services

      KPMG can help financial institutions address and tackle the challenges the sector continues to face.

      Risk management should be embedded within the culture of the organisation so that everyone is focused on managing and optimising risk.

      Supporting our clients in Aotearoa to digitally transform, thrive, prosper, and compete on a global scale.

      Helping organisations be sustainable, resilient, inclusive, and focused on their impact.