New Zealand’s Financial Markets Authority (FMA) has hired two specialists who are focused on helping the regulator with managing and overseeing Fintech and environmental, social and corporate governance (ESG) projects.
Binu Paul, a Fintech entrepreneur, will be serving as Specialist Lead, Fintech. He’ll be reporting directly to Liam Mason, the Director of Regulation. Fiona Whyte, who has experience working in the banking sector and developing regulations, will serve as Specialist Lead, Integrated Financial System. Whyte will be reporting directly to Sarah Vrede, Director of Capital Markets.
Rob Everett, Chief Executive at the FMA, noted that the recent appointments show the nation’s financial regulator is committed to supporting innovation in financial services. The FMA is also focused on supporting New Zealand’s gradual transition to a more integrated financial system, which focuses on financial returns and also aims to support other important non-financial factors and initiatives.
Everett stated:
“We want to foster technology innovation that improves outcomes for consumers and we believe there is potential for the FMA to work with industry to enable New Zealand to adopt more fintech developments. Binu is one of New Zealand’s recognized fintech entrepreneurs and has extensive networks across the sector, making him a perfect fit for this role.”
Everett added:
“In relation to the Integrated Financial System role, demand for responsible or green investments continues to rise and requirements for financial institutions to incorporate climate-related financial disclosures will come into effect in the next few years. It’s vital that regulators support the industry as it transitions to a more integrated financial system which recognizes these impacts, and Fiona’s role reflects our focus in this area.”
Both roles will focus on engaging with relevant stakeholders so that they’re able to understand the role that the FMA is expected to play in supporting New Zealand’s financial services sector. Both specialists will keep the regulator informed about important developments in the industry. They’ll also be representing the FMA during meetings with other government departments.
Paul has extensive experience working in the financial services, technology innovation and commercialization sectors during the past two decades. He’s worked with organizations based in New Zealand and those based in other countries. Paul has been working as a consultant at the FMA since 2016. He has also launched two Fintech companies.
Whyte has previously served as a Senior Advisor at the Financial Markets Authority before she was appointed as the Specialist Lead, Integrated Financial Services at the FMA. She has also served as the Non-Executive Director at Vision Fund, Cambodia and as Trustee at World Vision, New Zealand.
