Top award for Kiwi Wealth's investing platform, providing New Zealanders direct access to US share market.
Successfully delivering access to the world’s biggest investment market to all New Zealanders has seen digital investment platform Hatch scoop a major innovation award from leading financial and consumer ratings service Canstar.
Hatch, Kiwi Wealth’s investing platform giving Kiwis direct access to the US share markets, was one of three products awarded Canstar’s Innovation Excellence Award for 2019.
The awards recognise standout, innovative financial solutions launched in the New Zealand market in the past 12 months.
Hatch general manager Kristen Lunman says the award is recognition of Hatch’s innovative solution to a significant problem facing New Zealand investors.
“The need to use brokerages and high costs associated with traditional trading have been a real turn-off for most investors. What they wanted was an easier, intuitive, and cheaper way to invest in overseas markets. That’s what Hatch delivered.”
With technology continuing to demolish barriers to accessing global financial services, Lunman said Hatch was a homegrown tool creating a new world of financial opportunity for New Zealanders.
“As a country, we’re increasingly looking outward. Technology is opening up new markets, and business models and savvy Kiwis are grabbing the opportunities with both hands.
“Kiwis have now invested more than $13 million with Hatch, and we only launched in September last year.”
Rapid changes to the global financial landscape were a sign of the times, Lunman said.
“Kiwi Wealth’s inaugural State of the Investor Nation survey, which comes out next month, shows younger people are especially confident about the health of global financial markets. They’re looking for better opportunities to build wealth beyond traditional investments, such as property, that they’ve become increasingly shut out of.
“Hatch has now made the world their investment oyster.”
But while two-thirds of their customers are aged under 40, Hatch has proven popular with investors across all age groups and scale of investment.
“The simple fact is that, before Hatch came along, investing in overseas markets was hard work – expensive, time-consuming and clunky” says Lunman.
“You’d only use a broker if you were making large, infrequent trades.
“Hatch changes all that. Kiwis can make trades on their own terms, regardless of how much or how little they want to invest or how often they want to do it.
“It’s the democratisation of investing, and that’s the future of wealth management in New Zealand.”
Hatch is available to New Zealand investors at www.hatchinvest.nz