Binu Paul launched SavvyKiwi and is currently in the UK testing the possibility of an opportunity for the platform there.

He has started to promote the next Finnotec conference in November and said there had been some noticeable trends over the years the fintech conference has been running.

The volume of activity had increased rapidly before tailing off this year, he said.

Cryptocurrency and blockchain activity had slowed from the end of last year as some of the currencies’ values dropped and concerns grew about hacks.

He said there was also increasing conversation between the big product providers and start-ups rather than start-ups working in isolation.

Over the next year there would be more innovation in transaction technology, he said.

He said payments were where most innovation was happening.

“That’s to do with the fact that it’s high-volume as opposed to something that’s relationship based. If you look back over the last five years or so not just in New Zealand, but globally as well, payment is where most of the innovation is happening.”

He said the fintech market in New Zealand had less access to capital than those in other parts of the world. “That isn’t really happening here."

“Fintech is one of the fastest growing sectors in New Zealand. The opportunities arising from advances in areas such as artificial intelligence, digital identity and open banking are unprecedented. But they also bring new challenges for financial services businesses,” Paul said.

“The traditional view of how financial services operate, the nature of jobs in the sector, and how those businesses interact with customers are all about to be tested by advancing technology. Success in the future will come to those businesses which are able to make the most sense of these emerging trends.”