Photo: 123RF
Banks have been warned this week by the government that "competition is king".
Prime Minister Christopher Luxon and Finance Minister Nicola Willis announced the government would implement all 14 of the Commerce Commission's recommendations, for improving the banking sector.
This includes a potential $500 million investment into Kiwibank to bolster it to compete with the big Australian banks that dominate the market in Aotearoa.
RNZ's money correspondent Susan Edmunds breaks it all down with Mihi Forbes.
