What is open banking in New Zealand?
Open banking lets people share their bank data with an app they choose, and lets that app start payments from their account, with their consent. The person approves access with their bank. New Zealand’s consumer data right rules now require the five largest banks, ANZ, ASB, BNZ, Kiwibank and Westpac, to offer official open banking APIs. Details change over time, so check Akahu’s page on official open banking.
What can a business build with open banking?
Common uses are bank feeds and transaction data in accounting or internal tools, reconciliation, loan applications and other financial checks, account holder name checks, and pay-by-bank payments. Akahu’s APIs for account data, identity verification, Akahu Apply and payments support these uses. We build them as a custom integration, inside your existing product, or as a whole new product.
What is Akahu?
Akahu is New Zealand’s open finance platform. It gives apps access to bank and other financial account data, with the user’s consent, and lets them start payments. It also offers identity verification, transaction enrichment called Genie, and Akahu Apply for loan applications. Akahu states it is an accredited requestor in New Zealand’s regulated open banking system.
Do I need Akahu accreditation to go live?
Yes. A product with real users needs a full Akahu app and must pass Akahu’s accreditation before release. Personal apps only reach your own accounts and are not for production. The requirements depend on what your app does. One-off access gets a limited review, and higher-risk ongoing payments have extra security and compliance requirements set by Akahu. Akahu’s accreditation guide has the current rules.
What does an Akahu developer do?
An Akahu developer connects your product to Akahu and keeps that connection reliable. The work covers the bank connection flow, consent, account and transaction sync, webhooks, refreshes and error handling. It also covers the security and user controls that Akahu checks during accreditation. At AtasAI, the same team also designs the screens and plans the product.
Should we build our Akahu integration in-house or hire a team?
It depends on your team’s time and experience. Build in-house if your developers have room and want to own the open banking work. Hire a team if they are busy with the core product, or if you want people who have already been through Akahu accreditation. We can build it and hand it over with documentation, or keep running it.
Can you add Akahu to our existing SaaS product?
Yes. We add the bank connection flow, account and transaction sync, and the account screens that Akahu requires to your current product. We work in your code base and with your team. We also set up the security controls that Akahu checks before it accredits an app, such as multi-factor sign-in and a safe OAuth flow.
Can you build a new app on Akahu for us?
Yes. We build whole apps and SaaS products with Akahu inside, from product planning and design to engineering, AI features and launch. One team does all of it, so nothing is lost between a design firm and a build team. We plan for Akahu’s accreditation from the start, so the review is part of the plan and not a surprise at the end.
Which banks does Akahu connect to?
Akahu’s ongoing access covers the main New Zealand banks, including ANZ, ASB, BNZ, Kiwibank and Westpac, plus other banks, investment platforms and card providers. Support differs by bank and by feature, such as payments or identity data. Akahu keeps the current list on its integrations page, so check it for the banks your users need.
How fresh is Akahu data?
By default, Akahu refreshes connected account data about once every 24 hours. Your app can ask for a manual refresh, but Akahu may skip it if the account was refreshed recently. Faster refresh rates can be set up for an app and may cost more. A good app shows users when their data was last updated.
Can Akahu handle payments?
Yes. Akahu supports one-off and ongoing payments from New Zealand bank accounts, often called pay by bank. Personal apps cannot make payments, so you need a full app. Ongoing payments face stricter accreditation, and higher-risk ongoing payments have extra security and compliance requirements set by Akahu. We build the payment flow. Akahu runs the review and decides on accreditation.
How much does Akahu cost?
Akahu publishes its own prices on its pricing page. Ongoing access is typically $0.50 to $2.50 per user per month, and a one-off payment costs $0.15 per successful request (published by Akahu, November 2026). Akahu confirms your price once it knows your needs. AtasAI’s work is separate: we send a quote after a scoping call.
How do you handle security?
We build to Akahu’s security requirements from the start. That means encrypted traffic, Akahu secrets kept off the client, multi-factor sign-in, a safe OAuth flow and protection against the OWASP Top 10 risks. We also give users the controls Akahu requires, such as a list of connected accounts and a way to revoke access. Akahu runs the review.
Is AtasAI an Akahu partner?
No. AtasAI is an independent development company and is not owned by, endorsed by or formally partnered with Akahu. We build on Akahu as a developer. We have used the platform for over three years and taken two of our own products through its accreditation. Akahu is a trademark of its owner.