FMA appointments reflect serious move into fintech space

Fiona Whyte (left) and Binu Paul

The Financial Markets Authority (FMA) has announced the appointment of two new specialist roles focused on deepening the regulator’s expertise in two evolving and important sectors: financial technology (fintech) and environmental, social and corporate governance (ESG) impacts on financial markets.

Fintech entrepreneur Binu Paul has been appointed as specialist lead, fintech reporting to director of regulation Liam Mason. While Fiona Whyte, who has a banking and regulation background, has been appointed as specialist lead, integrated financial system and reports to Sarah Vrede, director of capital markets.

Rob Everett, FMA chief executive, said the appointments reflect the regulator’s support for innovation in financial services and commitment to supporting New Zealand’s transition to an integrated financial system, which looks beyond financial returns to also take account of other critical non-financial factors.

“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.