Originally published in Newsroom

Emerge isa mobile-first digital platform for Kiwi businesses that says it’s “here to make business banking what it should be” – with the obligatory caveat that it’s not a bank.

“We’ve been having this conversation for years now,” says Emerge co-founder Jamie Jermain. “It’s time to stop admiring the problem and start fixing it for Kiwis.”

He admits the capital requirement is “a tricky balance”.

“$30m is too prohibitive for new entrants if we want to create competition in the industry, but there are serious and valid arguments around customer safety to be considered,” he says. “Adrian Orr himself says $30m is there to keep consumers safe. That’s paramount.

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