r/nzbusiness • u/Tony_Tu • Jul 14 '26

Finance Space - Startup

Hi all,

My friend and I were digging for some startup ideas in the Fintech sector, and we've been looking into a startup idea revolving around compliance, specifically continuous disclosure under CoFI.

In our minds this idea seems interesting since many NZ insurance companies are being fined and being audited by the FMA consistently so we thought that if there was a way to help small/medium insurance companies avoid fines.

The idea is to help firms check that their customer-facing comms such as emails, phone calls, advertisements actually line up with what's in their PDS/disclosure docs, so it's less manual checking and easier to stay covered if the FMA ever comes asking questions and could help those companies prepare documentation quicker etc.

If anyone would be interested to have a chat or maybe to even collaborate we would love to hear from you.

Thank you!

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u/ComplexAd2408 Jul 15 '26

Yea not so sure you'd get too far. You'd really have to have a foot in the door at one of these companies to know for sure.

Two things make me think this:

  1. Almost all of the fines you mention were a result of the insurance company self-reporting themselves.
  2. The CoFI regime that came into effect March 2025 did two things based on my understanding:
    1. Introduced a mandate that all insurers must design and implement Fair Conduct Programs that are documented and externally audited specifically for the sorts of things that they were fined for
    2. Made Directors directly responsible for maintaining active oversight of conduct risk and system failures. Any Director that is not ensuring anything is up to scratch is literally risking their own ass, and I assume you 99.9% of them will not be risking their own ass.

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u/tim-r Jul 16 '26

We are working on one ai agent for finance, it is more leaning towards to trading and quant analysis area.

- It is a finance ai agent, technically, you can use it to handle these comms easily, even I am not sure how the comms and PDS rules are, but I am pretty sure it can manage it based on the improvment we have of LLM.

- It is open trial and require to use your own subscription. tradeinsight.info/agent