Dosh Halts Banking Bid, Eyes Home Loan Advice Growth

New Zealand fintech Dosh has put its banking registration ambitions on hold, opting to focus on growing its home loan advice business instead. The company's CEO, Shane Marsh, confirmed that Dosh had decided not to reapply for banking registration under the current regulatory framework.

The Reserve Bank of New Zealand declined Dosh's full application in August 2025, citing concerns over the viability of the fintech's proposed digital banking model. While the Reserve Bank indicated it would consider a revised application that incorporated credit products, Marsh said Dosh chose to pause rather than immediately resubmit.

Marsh attributed this decision to the company's growing partnership with telco One NZ and its desire to focus on home loan advice, which has seen significant growth in recent years. According to the Financial Markets Authority, more than 164,000 New Zealanders received digital financial advice in the year to June 2025, nearly double the previous year.