Reserve Bank of New Zealand launches framework to reduce financial exclusion

The Reserve Bank of New Zealand signed a Memorandum of Understanding with public and private sector organizations to support access to basic transaction services in New Zealand. The initiative aims to build a better understanding of the barriers some individuals face in accessing these services. Participation in the MoU is voluntary and sets out non-binding commitments for participating agencies and organizations.

The initiative signals a commitment from public sector agencies and industry to reduce financial exclusion in New Zealand. Without access to transaction services, people could be excluded from employment, government services, digital commerce, and broader financial opportunities.