Company’s market share jumps
Following rapid growth over the past year, Avanti Finance is now reported as the second-largest non-bank lender by assets, loans and market share in the country by KPMG.
KPMG’s annual financial institutions performance survey has revealed the largest movers and shakers in New Zealand’s finance industry, including businesses that have most successfully grown their revenue, loan books, market share and other key metrics.
For the fifth consecutive year, Kiwi-owned Avanti Finance has had the largest dollar growth of total assets in the non-bank sector and a significant increase in market share to now account for 10.79 per cent of the market, overtaking Latitude Financial Services, reports KPMG.
“We’re an introducer-led business, so a huge amount of our growth over the past year is due in no small part to the quality of our adviser network across the home loan, automotive and personal loan spaces,” says Mark Mountcastle, pictured, Avanti Finance’s chief executive officer.
“Our team has worked hard to develop loan solutions that meet customers’ needs and streamline processes that make these loans as accessible as possible.”
The company recently revealed the latest in its efforts to improve the introducer experience with its loan-origination platform Avanti Loan Finance, or “ALF”. Using ALF, a loan application only has to be entered once to find a suitable solution across the company’s multiple lending tiers.
“It has been a year of great achievements for us,” adds Mountcastle. “We also recently completed our largest-ever RMBS [residential mortgage-backed security] demonstrating the market’s confidence in our strategy, technology, team and products. We look forward to what next year brings.”