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Crediflex Makes Mark on New Zealand Market

MEDIA RELEASE
19th MAY 2005

CREDIFLEX MAKES MARK ON NEW ZEALAND MARKET


Financial services provider CrediFlex New Zealand has already made its mark on the local market despite having launched just five months ago.

The company, which arranges plant and equipment finance, and commercial property and banking finance, has already generated over $80 million of lending volume with more than 20 different lenders since it started trading at Christmas. It is the only national intermediary providing this type of financial service in New Zealand.

CrediFlex has 12 partners nationwide from Whangarei to Dunedin and a support office in Auckland. The majority of partners are former UDC franchisees who are highly experienced financial professionals with an in depth knowledge of their local community and its business needs.

Auckland-based CrediFlex New Zealand Limited’s general manager, Mike Hartley says CrediFlex was successfully launched in Australia four years ago and now has national representation across Australia. It is also the only Australian intermediary to be ISO 9001 accredited.

Mr Hartley says early indications are that the New Zealand operation will be equally successful but stresses that it is a separate entity to the Australian arm with its own New Zealand management structure and focus.

“CrediFlex Australia provides chattel, commercial and debtor finance as well as home loans, life insurance, financial planning, investment and superannuation schemes. Our initial focus in New Zealand is finance for trucks, earthmoving and agricultural equipment, computers and motor vehicles, and all types of plant and machinery. But we also offer commercial property and business banking facilities as well as having access to a wide range of other products and services provided by local financial institutions.”

CrediFlex Australia’s managing director Vic Fairley says the Australian operation is among the top three Australian broking companies in terms of representation and business volume.

“However we are far more than just middle men,” he says. “We describe our market position as being that of a ‘mid banc’ as our company’s growth is largely due to the widening gap – particularly in Australia – between banks and their commercial customers. Many Australian banks now deal with their customers through intermediaries such as CrediFlex and ironically, many of these intermediaries are former senior commercial bank staff or financiers.”

CrediFlex New Zealand’s executive director, David Ashman says CrediFlex’s approach is based on “traditional values and modern solutions”. “We pride ourselves on being honest, trustworthy and experienced,” he explains. “We have highly skilled partners with excellent contacts in their local provinces who are committed to nurturing their customer relationships and growing new business, mainly through face-to-face contact.”

Mr Ashman says CrediFlex is also committed to ensuring lenders are presented with financial documentation and proposals that are professional and relevant. “We do a lot of field work and research before putting together comprehensive financing proposals for lenders to consider. We understand the areas of finance they specialise in and target proposals accordingly. The feedback we have received from financial institutions to date has been extremely positive as they see value in doing business the CrediFlex way – as do our customers.”

CrediFlex intends launching other complementing financial products during the year and is currently undergoing ISO 9001 accreditation. For more information about CrediFlex New Zealand Limited visit www.crediflex.co.nz telephone 09 970 8800 or email HYPERLINK "mailto:talktocrediflex@crediflex.co.nz" talktocrediflex@crediflex.co.nz

ENDS

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