ASPIRE, FROM THE GROUND UP.
APFII is proud to be involved in bringing together eleven members with the intention of applying for Bank License in New Zealand. As a direct result of the 2017 APFII Roadmap, our membership has responded positively, and the Project Aspire vision is beginning to take shape. No time-frame has yet been agreed upon for the completion or submission of any proposed Licence Application to the RBNZ, and no services will be offered prior to the successful outcome of that application, if it is to suceed.
Project Aspire is a goal set by APFII members to prepare for and eventually apply to the Reserve Bank of New Zealand, to become a full service New Zealand Bank. A bank that, if approved, will connect to New Zealanders via more than 80 regional locations, and six flagship branches in major urban centers.
Project Aspire proposes to offer licensed banking facilities, such as strong, safe, and ethical credit services, more flexible accounts, tailored consumer services, and a high level of focus on long-term thinking aligned with you, your family, and your community.
It is intended to apply to RBNZ, sometime before 2025, and services are dependent on the completion and the subsequent approval of such a license to trade in New Zealand as a registered Bank, for which the engaged members of APFII are undertaking to work towards, at this time.
The proposal aims to combine the resources of several APFII member networks, and new service centres.
Existing Administrative Centers:
North of Auckland: Data Services.
Auckland: People & Culture, Technology, Head Office.
Tauranga: Operations, Treasury, Disaster-Recovery 1.
Wellington: Regulatory Center: Compliance, Anti-Crime, Digital Security.
Blenheim: Client Call Center, D-R3.
planned Service Centers:
Canterbury: Legal, Lending, Infrastructure, and Lending Compliance.
Otago: International Service Operations and D-R2 (live as of Q3 2020).
Next Steps For APFII:
Project Aspire is one of five core APFII Regional Commitment (2017) undertakings for regional infrastructure for Financial Inclusion by APFII Members. RC-17 covers APFII’s work in National Payment Systems, Transaction Technology Platforms, Clearing Systems, Government Bond Systems, Central Bank Foreign Exchange, and international Compliance and Transaction Reporting, KYC and capacity building covering the period 2018-2021.
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APFII Successes:
2010: Real time multi-currency clearing infrastructure.
2011: Ground breaking multi-country mobile money systems.
2012: 113 Countries supported for international bill payment services.
2013: SWIFT Funding for Regional Expansion, and IPF-A Accreditation.
2014: KYC/AML Systems Upgrate and Platform Development.
2015: Trade Finance and Invoicing System. Central Bank FX Management.
2016: Currency and Note / Cheque Processing service.
2017: IBM/Pacific Partnership.
2018: PaymentsNZ System Membership. Tuvalu Payment Service Launch.
2019: Tonga National Payment System Design and Deployment
2020: Australian Payment System Participation.
APFII.org brings together regional and international collaboration, creating opportunity and innovation in financial services specically focused on meeting market needs and providing community services that enhance the lives of everyday people.
See the below video on the 2017 joint innitiative between APFII member, KlickEx, and global technology partner IBM. Brought to you by project Aspire -
