At first glance the review of New Zealand banks by the Financial Markets Authority and Reserve Bank is largely positive. Second, the New Zealand review was very different from the Australian Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. How hard did the review probe the ANZ, ASB, BNZ, Westpac, Kiwibank, TSB, SBS, Radobank, Heartland Bank, The Co-operative Bank and HSBC? Rather "our review was based on interviews with bank staff and directors, and documents supplied to us by the banks". Peer-to-peer transactions and block chain technology could swipe bank business.

Source: Otago Daily Times November 11, 2018 15:33 UTC