What is the NZ CDR implementation timeline?

Q: What is the NZ CDR implementation timeline?

2022-01-01: Government announced CDR to formalise open banking. 2025-12-01: Four major banks (ANZ, ASB, BNZ, Westpac) legally required to support data sharing; Kiwibank and others may opt in. 2026-06-01: Kiwibank: payment services required. 2026-12-01: Kiwibank: other open banking services required

NZ CDR - New Zealand Consumer Data Right

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Jurisdiction

New Zealand

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Effective Date

2025

Dec 1, 2025

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Full Compliance

2026

Dec 31, 2026

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Regulator

Ministry of Business, Innovation and Employment

Overview

New Zealand's Consumer Data Right (CDR) formalises open banking following industry-led development by Payments NZ and the API Centre. From 1 December 2025, bank data portability is a legal requirement under the Customer and Product Data Act 2025: the four largest banks (ANZ, ASB, BNZ, Westpac) must support data sharing with explicit customer authorisation. Kiwibank has a phased schedule—payment services by 1 June 2026, other open banking services by 1 December 2026. Data may only be shared with accredited data requestors; MBIE runs accreditation and issues a trust mark. The framework will expand to electricity and telecommunications in later phases.

Scope & Coverage

AISPISBankingElectricityTelecommunications

Key Requirements

Data sharing only with customer explicit authorisation

Accredited data requestors (MBIE trust mark)

API standards (Payments NZ API Centre)

Complaint and dispute resolution, insurance, data protection

Fit and proper person checks for directors and key staff

Payment initiation support (four banks from Dec 2025; Kiwibank by June 2026)

Implementation Timeline

Jan 1, 2022

Government announced CDR to formalise open banking

Dec 1, 2025

Four major banks (ANZ, ASB, BNZ, Westpac) legally required to support data sharing; Kiwibank and others may opt in

Jun 1, 2026

Kiwibank: payment services required

Dec 1, 2026

Kiwibank: other open banking services required

Key Notes

Regulations in force from 1 December 2025. Banks had voluntarily built open banking via Payments NZ; government followed with CDR legislation. In October 2025 alone, 100,000+ people used open banking services. Smaller providers can use accredited intermediaries.