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Open banking

The Government is drafting regulations that will designate the banking sector under the Customer and Product Data Act. This will enable and accelerate ‘open banking’, which is a system that enables banks’ customers to share their banking information with trusted third parties, such as fintechs. It also enables accredited persons to initiate payments on behalf of customers. We expect the regulations to be in force from December 2025.

Plant and Food Research's science platforms

Plant and Food Research receives $42.7 million per year of Strategic Science Investment Fund (SSIF) funding for 2 science platforms – Plant-based food and seafood production and Premium plant-based and seafood products.