"Duncan Greive argued that banks don’t need a social licence to operate. Ben Gracewood asks: what if they had one though? "
"If I was the boss of a bank in New Zealand, I would simply deploy the very best banking API, eliminate marketing spend, reduce products to a few simple options, and then sit back and make all the money. The BenBank API would let anyone with permission make payments and transfers, create and update accounts, confirm receipts, download transactions, and the rest. It would also provide identity verification (in line with anti money laundering laws) and allow new account creation."
https://thespinoff.co.nz/business/15...in-new-zealand