Reserve Bank of New Zealand Releases Future of Banking Study

The Reserve Bank of New Zealand published a Future of Banking study on September 17, 2026, to analyze the potential evolution of the national banking sector through 2035. The report identifies artificial intelligence, rapid technological innovation, new business models, and changing consumer preferences as the primary drivers of industry change.

The study outlines three plausible scenarios for the future: a digital banking revolution led by fintech companies, the emergence of interconnected banking ecosystems, or incremental adaptation by existing incumbent banks. While these shifts offer opportunities for greater efficiency and competition, the bank warns of risks involving third-party concentration, AI-related threats, and financial activity moving beyond current regulatory boundaries.

Assistant Governor Financial Stability Angus McGregor stated that the bank is not seeking to predict a specific outcome or recommend policy positions. Instead, the work is intended to support public discussion and ensure the financial system remains stable and inclusive regardless of how the sector evolves.