Open banking planned for KiwiSaver

Sevaka and Qippay have formed a partnership to bring open banking to KiwiSaver, with the goal of delivering a seamless and secure way for members to manage contributions and improve long-term outcomes.

The proposed solution will enable KiwiSaver members to adjust their contributions quickly and securely, helping them make small but significant changes that can have a major impact on their retirement savings.

“Open banking has the potential to transform the way Kiwis engage with their retirement savings,” said Clive Fernandes, founder of Sevaka. “For example, by making contribution management simple, secure, and actionable, we’re helping members take control of their financial futures.”

For advisers, this means less time spent on administration and more time supporting clients with meaningful conversations and long-term planning. Clients benefit from smoother, faster processes and greater confidence that changes are executed correctly and securely.

“This partnership is about making it easier for advisers and their clients to turn advice into action,” Qippay chief executive Ashley Lake-Johns says. “Together with Sevaka, we’re creating the foundations for smarter, more client-centred KiwiSaver experiences.”

This initiative marks the first step in a broader collaboration between Sevaka and Qippay. Both companies will continue to explore ways to apply open banking and AI to deliver better outcomes for KiwiSaver members, providers and advisers across New Zealand.