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New Zealand's banking system is facing a more diverse, difficult and competitive trading environment as regulation and technology evolve to give consumers ...

And where there are depositor/investor losses, litigation will follow." "The banking sector is facing a multi-faceted regulatory reform programme which will require substantial adjustment and will change the dynamics of the market, encouraging technological innovation and creating opportunities for new entrants," it said. "Finding the right balance of financial regulation, market discipline and investor protection is a hard problem to solve," Ford said. "And younger generations, accustomed to making and changing investments at the push of a button, are unlikely to bring much loyalty to their banking relationships." "The current inflationary environment will incentivise customers to seek out higher returns just as new technologies and regulations make it easier for them to switch funds among banks, or to exit the banking system entirely," the report said. A banking industry report by law firm Chapman Tripp indicated the sector would face structural changes which would result in wins and losses for the biggest and smaller players.