The Government is taking aim at bank's massive profits by allegedly looking into open banking, with an announcement potentially coming this week.

Open banking is when you can move all your bank details, your debits, your mortgages etc between banks very quickly, creating high amounts of competition, as seen overseas.

The evidence shows that it brings banks profits down about 10 percent.

Associate professor at the Massey University Business School Claire Matthews joined Mike Hosking.

LISTEN ABOVE

The Government is taking aim at bank's massive profits by allegedly looking into open banking, with an announcement potentially coming this week.
Open banking is when you can move all your bank details, your debits, your mortgages etc between banks very quickly, creating high amounts of competition, as seen overseas.
The evidence shows that it brings banks profits down about 10 percent.
Associate professor at the Massey University Business School Claire Matthews joined Mike Hosking.
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.