Global Innovation Trends

James Burnes, CEO of Ministry of Awesome, offered a global perspective on fintech innovation opportunities with particular relevance to New Zealand.

WealthTech is experiencing remarkable growth in the US, particularly among younger demographics comfortable with algorithm-driven investment advice. Meanwhile, New Zealand’s stable regulatory environment provides a competitive advantage in sustainability and environmental, social, and governance (ESG) finance—areas experiencing temporary slowdowns in more volatile overseas markets.

The Buy Now, Pay Later (BNPL) sector continues its explosive growth trajectory, with projections suggesting 900 million users by the end of 2026. Burnes emphasised that successful BNPL solutions must be fully integrated into the purchase decision process rather than appearing only at checkout.

Burnes also noted the fundamental shift in consumer attitudes toward financial services providers. As traditional banking roles evolve, opportunities emerge for fintechs to create solutions previously offered exclusively by banks or insurers.

Finally, Burnes addressed AI’s profound impact on work itself, challenging attendees to consider how they might create tools that redefine their own roles—or develop skills for the new positions that AI will inevitably create. 

James’ key advice for Aotearoa’s start-up ecosystem was confronting: “stop being so nice.” He challenged the audience not to hold back when it comes to sharing honest feedback with founders if their solutions need more work. He explained that being supportive isn’t enough, if we want our founders to succeed globally, they need access to the expertise and insights that will help them shape their tech solutions for success—you do them no favours by holding back.

These quickfire sessions exemplified the bold, forward-thinking spirit of the NZ fintech community, offering attendees of the Hui practical insights to navigate the watershed moment facing Aotearoa’s fintech sector.