Posts by adviceHQ
428 days ago

KiwiBank Boost for Banking Competition

Financial Adviser, Director from adviceHQ

The Government is taking bold steps to boost competition, strengthen Kiwibank, and ensure fairer outcomes for Kiwi customers. Key changes include:

✅ Boosting Kiwibank's capital: Up to $500 million may be raised from KiwiSaver funds, NZ investment institutions, and professional investor groups to help Kiwibank compete with the "big four" Australian-owned banks.

✅ Exploring a public share offering: A potential IPO for Kiwibank is on the horizon (post-2028) after its digital transformation, offering more accessible growth options.

✅ Revised Reserve Bank focus: New directives for the Reserve Bank prioritize competition while maintaining financial stability, with reviews planned for:
❇️Risk weighting for lending.
❇️Minimum capital thresholds for new market entrants.
❇️Restrictions on the use of the word "bank."
❇️Barriers to lending on Māori freehold land.

✅ Improved services for consumers: Emphasis on open banking, better payment switching, and clearer home loan comparisons.

"Competition is king," as Nicola Willis puts it. These changes aim to create a level playing field for smaller players and better outcomes for Kiwi bank customers. What do you think?
#KIWIBANK #OpenBanking #kiwisaver #independentfinancialadvice #advicehq

More messages from your neighbours
20 hours ago

A Neighbourly Riddle! Don’t Overthink It… Or Do?😜

The Riddler from The Neighbourly Riddler

Do you think you know the answer? Simply 'Like' this post if you know the answer and the big reveal will be posted in the comments at 2pm on the day!

If you multiply this number by any other number, the answer will always be the same. What number is this?

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23 days ago

Poll: As a customer, what do you think about automation?

The Team from Neighbourly.co.nz

The Press investigates the growing reliance on your unpaid labour.

Automation (or the “unpaid shift”) is often described as efficient ... but it tends to benefit employers more than consumers.

We want to know: What do you think about automation?
Are you for, or against?

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As a customer, what do you think about automation?
  • 9.6% For. Self-service is less frustrating and convenient.
    9.6% Complete
  • 43.4% I want to be able to choose.
    43.4% Complete
  • 47% Against. I want to deal with people.
    47% Complete
2570 votes
10 hours ago

Ready to make the most of retirement?

Bert Sutcliffe Retirement Village

From hobbies to adventures, there’s so much to enjoy!
- Explore new hobbies like gardening or painting
- Stay active with walking groups or cycling trails
- Learn something new with online courses or local classes
- Give back through volunteering or mentoring

Read the full article and take our fun quiz to find out which activities suit your personality best below!

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