Kontiki Finance scales up for expansion into new markets throughout Oceania with Q2’s cloud-based solutions, Q2 Originate, Q2 Loan Servicing and Q2 Collections
Q2 Holdings, Inc., a leading provider of digital transformation solutions for banking and lending, announced that Kontiki Finance Limited (KFL), a USD $110 million, multi-ethnic microfinance company based in Fiji, will modernise and future-proof its finance business using the Q2 loan management and origination solutions. The move will enable rapid, scalable business growth for Kontiki Finance Limited to enter new markets throughout the Pacific Islands and beyond. Kontiki Finance Limited is Q2’s first customer in the Pacific Islands.
Established in 2015 as an alternative to large, traditional banks and finance companies, KFL is a Fijian-majority owned company that provides consumers and small businesses with competitive access to smaller loans for terms between 12 and 84 months. It specialises in personal loans, vehicle loans, business loans and term deposits.
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KFL will replace its legacy banking system with Q2’s cloud-native, API-first, configurable and scalable loan management system and loan origination system. It will deploy several Q2 solutions, including Q2 Originate™, Q2 Loan Servicing™ and Q2 Collections™. Q2’s fast, flexible digitised platform will enhance the customer experience, increase internal productivity, enable greater speed to market and reduce technology and operational risk for Kontiki Finance Limited.
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Its Chief Financial Officer David Oliver said, “We’re growing rapidly, and we needed a digital partner to carry out our vision for growth throughout Fiji, Samoa and Oceania. Q2 quickly emerged as the ideal digital partner due to its unified, innovative cloud platform, which fully digitises loan origination and loan servicing. Additionally, Q2’s credibility with its existing customers – including Harmoney and Latitude – spoke volumes about its modern technology, innovation and scalability for expansion into new markets. We’re excited about extending our business model more widely as we move forward with Q2.”
Q2’s Senior Regional Sales Manager APAC Simon Heeringa said, “Q2 is particularly pleased to partner with Kontiki Finance Limited. Today’s announcement is an important strategic step for KFL as we help drive the expansion of its unique and important niche-area funding model. We look forward to helping Kontiki Finance Limited grow its business and enable a more efficient, streamlined lending experience for customers and employees.
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