NZ Bankers' Association CEO says newcomers like P2P lenders face a challenge building reputations and trust

By Gareth Vaughan

Non-traditional players entering the financial services sector such as peer-to-peer lenders have a challenge ahead of them to build reputations against the stigma of the finance company collapses, says New Zealand Bankers' Association CEO Kirk Hope.

Hope told interest.co.nz that whilst banks face challenges in the developing digital banking era, so to do newcomers seeking to pick off banks' business.

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