At the RBNZ we have also strengthened our links with regulators in other countries. Well before the crisis we had strong formal links with our Australian counterparts at the Reserve Bank of Australia and the Australian Prudential Regulation Authority (APRA).
Our consultations facilitate the start up of new businesses. We have opened our payment infrastructure to non-banking institutions, and now FinTech companies can directly, without intermediaries, access the entire SEPA area through the CENTROlink platform. The freshly launched ‘regulatory sandbox’ provides favourable conditions to construct and test innovative business models while enabling us to upgrade our own array of regulatory tools.