At the FinTechNZ Hui Taumata 2025, Anthony Jones, Head of Consumer Solutions at Visa, shared valuable insights into the financial challenges facing young New Zealanders today. With homeownership rates declining, access to credit tightening, and financial behaviours shifting, fintech has a significant opportunity to step in and provide innovative, consumer-focused solutions.

The reality for young Kiwi today

Financial independence has never been harder for younger generations to achieve. Jones highlighted that:

• 70% of 18- to 20-year-olds still live at home, and statistically, many won’t move out until their mid-20s.
• This trend mirrors patterns in Australia, the UK, and the US, showing that the cost of living, wages, and financial pressures are reshaping how young people approach money.
• In 1991, 61% of 25- to 29-year-olds owned their own home—a stark contrast to today’s figures.
• Over the past two decades, access to credit has become significantly harder, resulting in a more difficult journey for young people to build wealth.

Jones emphasised that these financial pressures are not just about housing affordability—they also influence spending, saving, and borrowing habits for an entire generation.

The role of fintech in reshaping financial access

With these challenges in mind, fintech has a critical role to play in creating solutions that better serve younger consumers. Jones pointed to several key areas where fintech can make a real impact:

More inclusive credit solutions – Traditional credit models often exclude younger consumers who lack long-term financial history. Fintechs that leverage alternative data sources (such as cash flow analytics) can create fairer, more accessible credit products.

Embedded finance & seamless digital experiences – Younger consumers expect financial services to be integrated into their daily lives, from payments to savings to lending. Fintechs must prioritise customer experience and embed financial services into the platforms and apps people already use.

Preparing for an open data economy – In markets like Australia, open banking is already transforming financial access. Jones highlighted that New Zealand’s regulatory approach gives fintechs a unique advantage—they can start leveraging enriched data now to create better financial products.

Why now? The opportunity for NZ fintechs

Jones’s message was clear: the time to act is now.

• The technical path is already laid out, and privacy requirements are defined—fintechs should start testing APIs, partnering with intermediaries, and integrating open banking solutions today.
• The transformative effect of open banking cannot be overstated—those who move early will have a significant competitive advantage.
• A thriving fintech ecosystem requires active engagement—businesses across the sector must work together to build solutions that truly serve both consumers and merchants.

With homeownership rates falling, credit access becoming more restrictive, and younger consumers demanding more seamless financial experiences, fintechs that innovate now will be best positioned to succeed in the years ahead.

What’s Next?

The financial landscape is evolving rapidly, and fintech has a once-in-a-generation opportunity to reshape how younger Kiwi access and manage money. The challenge now is for businesses to take action—test, iterate, and bring solutions to market that truly make a difference.