Fintrex Finance: A new name with years of excellence

• Former Meslta Regal Finance aims to focus on SMEs and under-banked sector after rebranding
• Aspires to drive operations on a digital platform to ensure sustainability and efficiency

 By Ruwandi Gamage

Consequent to the change of ownership from Melstacorp PLC to Bluestone 1 Ltd. for the sale of 100% equity, Melsta Regal Finance Ltd. unveiled its new brand identity as ‘Fintrex Finance Ltd.’ 

Unveiling their new name and logo, Fintrex Finance Ltd. Chairman AjithGunawardene explained that the new name was coined from the words ‘financial entrepreneurs’ and ‘experts’ and further stated that systems, governance, processes and people will be their main focus.

“We will focus on the SME segment and those under-banked. This will be done through innovation, assistance and advice that our experts will give them, but we will also move towards using technology to drive our growth. This technology is not going to be revolutionary initially, but it will certainly be the change that will drive the organisation over the long term,” he said. 

Addressing the gathering, Fintrex Finance General Manager and Chief ExecutiveOfficer Tamara Dharmakirthi explained about the investors who had backed the acquisition. “The Bluestone acquisition was backed by a consortium of world class investors including global insurance giant Fairfax Holdings who now hold 70% along with MAS and Hirdaramani Group who together hold 24%,” she said.

Dharmakirthi further explained that the company has called upon the services of professional institutions and audit firms to evaluate their processes, to understand the gaps and help them ensure that they have a robust process and policies ensuring proper credit management. She ensured that the Board of Directors under the leadership of Chairman AjitGunewardene is focused on adopting the best trade practices to be the best in what they do. 

Fintrex Finance is focussed on embracing technology to improve efficiencies and cater to the emerging business transaction trends and expectations of modern clients. Fintrex Finance aims that this digital platform will help minimise the impact of depleting natural resources and establish sustainability in their operations in the future.