‘Clear objective’ for company

Geneva Finance is aiming to simplify the group’s structure and return to its core trading activities of lending and insurance.

The company’s “clear objective” is to drive sustainable revenue growth and reduce operating costs, shareholders were informed at its annual general meeting on September 25.

A presentation on strategy noted a focus on “quality lending”, which includes prioritising high-quality loan origination through credit assessment and underwriting practices.

The direct-lending business will be expanded. New lending opportunities aligned with risk appetite and market demand will be pursued. 

In addition, the loan book will be actively managed and cleaned of delinquent debt to improve asset quality and strengthen the portfolio’s performance.

The insurance division will be expanded by continuing to grow its existing portfolio via targeted distribution and customer engagement. The product range will be broadened and improved to meet “evolving customer needs and enhance cross-sell opportunities”. 

Shareholders were told there will be a comprehensive review of overheads, funding structures and capital requirements “to ensure optimal resource allocation and financial resilience”.

Technology upgrades and systems automation were also highlighted at the meeting. For the New Zealand lending operations, loan onboarding automation with the Credisense system is being piloted.

Management and board reporting automation with Microsoft Business Central, an automated provisioning model, and Finpower’s securitisation module and Sequential reporting system have all been completed.

As for insurance, Quest’s system upgrade – Insured HQ – is under way and Microsoft Business Central has been rolled out.