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Our Approach to Financial Inclusion

Our Approach to Financial Inclusion outlines the steps we are taking to consider and contribute to access to financial products and services in Aotearoa New Zealand.

The Reserve Bank of New Zealand - Te Pūtea Matua

Published date:

Our working definition of an inclusive financial system is one in which all New Zealanders have reasonable access to financial products and services that meet their needs.

Our work on financial inclusion is aligned with the broader direction of travel among global bodies, international standard setters, central banks, and growing expectations from society.

Our approach to financial inclusion progress, ongoing activities and our forward-looking plans are described across 3 key areas.

Our 3 key areas

1. Lay the foundations

What we are doing to define, measure and mature in the way we consider financial inclusion in our work. This includes:

  • defining concepts
  • building capability and awareness
  • improving our evidence base (measurements and reporting).

2. Get the settings in place

What we are doing to incorporate financial inclusion across our functions. This includes:

  • ongoing work streams
  • policy considerations
  • regulatory and operational settings.

3. Show the way

How we are collaborating with public and private stakeholders. This includes:

  • thought leadership
  • collaboration with The Council of Financial Regulators (CoFR)
  • public private engagement
  • iwi and Māori partnerships
  • relationships with regulated entities.

Building an inclusive financial system

We are releasing our Approach to Financial Inclusion in the context of combined efforts across the Central Bank Network for Indigenous Inclusion, recognising that we are one of many stakeholders internationally and domestically contributing to financial inclusion.

We will continue this important work in line with our modernised legislation, our commitments as set out in our Te Tiriti o Waitangi Statement, and in step with public and private stakeholders who also have an important role to play in building a more inclusive financial system.