SUVA, FIJI (16 March 2026)
Merchant Finance Pte Limited (MFL) has announced a technology collaboration, with global fintech provider KiyaAI, to upgrade its core banking system, marking a significant advancement in the company’s digital transformation journey. The upgrade, which represents a total investment of $3.5 million, will improve MFL’s digital capabilities and enhance the delivery of faster and more accessible financial services to customers across Fiji.
The new system will replace the institution’s existing lending platform and introduce a modern, cloud-enabled core banking infrastructure designed to support the company’s growing suite of financial products and services.
Merchant Finance has experienced significant growth in recent years, introducing new products and expanding its services to meet the evolving needs of individuals, businesses, and communities. The transition to KiyaAI’s platform is an important step to ensure the institution’s technological infrastructure can support this continued growth while delivering improved customer experiences.
“We are quite excited about the new capabilities that the KiyaAI system will bring to Merchant Finance. They have strong automation and analytical capabilities which we will use to improve how fast we serve our customers. This is a key part of our customer value proposition. We also plan to improve our existing product features and roll out new products and services after we implement our new system.” said Mr. Veilawa Rereiwasaliwa, CEO of Merchant Finance.
The implementation is expected to take approximately eight months, covering system design, development, testing, staff training, and full deployment.
Unlike MFL’s current traditional loan management platform, that focus primarily on lending operations, KiyaAI’s technology provides a comprehensive banking platform capable of supporting multiple financial services within a single integrated ecosystem.
“Partnering with Merchant Finance is a testament to the growing demand for next-generation banking technology solutions across the Pacific Islands. Our Core Banking and Lending Suite have been purpose-built to give financial institutions the agility and intelligence they need to compete in today’s digital-first environment. We are excited to support Merchant Finance on this transformational journey and are confident that this implementation will sent a new benchmark for banking excellence in Fiji.” Said Mr. Rajesh Mirjankar, Managing Director and CEO of KiyaAI.
The new system will introduce enhanced digital capabilities that can seamlessly link to mobile and web-based apps, which will allow customers to access Merchant Finance products and services more conveniently.
Such an integration and link to mobile and web-based apps will allow customers to:
- Access real-time account and loan statements
- Apply for financing through mobile or web applications
- Track applications digitally
- Receive automated notifications for required documentation and so much more
These features will significantly improve accessibility and convenience, allowing customers to manage their financial needs more efficiently.
Internally, the new platform will streamline processes across the organisation by introducing automation, improved workflow management, and integrated data systems.
Certain routine administrative tasks will be automated, allowing staff to focus more on customer engagement, advisory services, and business development. The system will also support faster credit assessment processes through improved data integration and analytical capabilities.
KiyaAI’s platform will also enable MFL to improve its response time for customers, and scale its operations to support future growth.
Although Merchant Finance currently operates as a licensed credit institution, the implementation of a modern core banking platform will provide the technological foundation required to support a broader range of financial services. The partnership with KiyaAI introduces bank-ready technology capabilities, positioning Merchant Finance to pursue its aspiration of transitioning into a fully licensed commercial bank and expanding its role within Fiji’s financial sector.
The new platform will provide the flexibility to integrate with emerging technologies, support future product innovation, and enable the organisation to respond more quickly to changing market conditions and customer expectations.
By investing in modern technology infrastructure, Merchant Finance aims to strengthen its role in supporting financial inclusion, business growth, and economic development in Fiji.
