Each week we wonder which country will be the next to bellow “me too!” when it comes to fintech and this week it’s the turn of Thailiand and New Zealand.
The kiwis are riding a wave of hyperbole with the launch of FinTechNZ, an industry group backed by government.
“Fintech will totally transform New Zealand through its impact on the financial services industry which carries the economy”
States Chair of NZ Tech Mitchell Pham. The group boasts the backing of the New Zealand Technology Industry Association, the New Zealand Venture Investment Fund, New Zealand Trade & Enterprise, Auckland Tourism, Events and Economic Development, Wellington Regional Economic Development Agency, Canterbury Development Corporation, and Canterbury Technology Cluster.
Thailand too is in a race not to be left behind. Although coy on Bitcoin itself, it is throwing itself wholesale into the blockchain technology. The Kingdom’s largest bank this week opened the door to joint ventures with fintech startups. Kattiya Indaravijaya, co-President of Kasikornbank is keen not to be losing business to disruptors. She told Bloomberg;
“There are a lot of parties talking to us right now. We can partner with fintechs. We have them provide a product to us and we provide it to the customer. There’s an opportunity for us to provide the service to the customer at a lower price”.
We’ll know full circle has been achieved when North Korea announces its fintech strategy.