Gem Finance
Gem Finance is a New Zealand consumer finance brand under Latitude Financial Services offering credit cards, personal loans, car loans, and debt consolidation to individual consumers through digital, broker, and retail distribution channels.
- Company typePrivate
- Founded-
- HeadquartersAuckland, New Zealand
- Headcount—
- GTM typeB2C
- OfferingServices
What Gem Finance does
Gem Finance is a New Zealand consumer finance brand operating under Latitude Financial Services Limited, headquartered in Auckland. The company provides credit cards (Gem Visa, Gem CreditLine, and Gem Essential), personal loans (secured and unsecured, fixed and variable rate), car loans, and debt consolidation loans to New Zealand permanent residents. Revenue is generated through interest on revolving credit balances (prevailing rates of 29.49-29.95% p.a.), annual and establishment fees on credit cards, interest on personal loans at rates ranging from 8.99% to 29.99% p.a., and merchant-funded interest-free promotional periods at participating retailers.
The underlying technology is a digital-first lending platform comprising a self-service online application portal, the Latitude App (rated 4.8/5 on the App Store) for mobile account management, financial calculators for customer self-service, and a dedicated broker portal for intermediary loan submissions. Digital wallet integrations with Apple Pay, Google Pay, and Garmin Pay support contactless payments. The company has been serving New Zealand customers under the Gem brand with heritage spanning over 100 years through its parent company, though Genoapay, a previously offered buy-now-pay-later service, was closed in April 2023.
Gem Finance distributes through three GTM motions: direct-to-consumer digital sales with 60-second application decisions and instant cardless payment capability, an accredited broker network for personal loans via a dedicated broker portal, and retail partnerships offering interest-free payment plans at point of sale. Customer segments include individual consumers seeking personal finance for vehicles, renovations, debt consolidation, weddings, travel, and everyday purchases, alongside finance brokers and retail partners as B2B distribution channels. The company is led by CEO Bob Belan and maintains IFSO membership under Latitude Innovation Holdings Limited (FSP646749) for regulatory compliance.
Gem Finance firmographics
Firmographics- Name
- Gem Finance
- Legal name
- Latitude Financial Services Limited
- Website
- https://gemfinance.co.nz
- Company type
- Private
- Operating status
- Operating
- Short description
- Gem Finance is a New Zealand consumer finance brand under Latitude Financial Services offering credit cards, personal loans, car loans, and debt consolidation to individual consumers through digital, broker, and retail distribution channels.
- Ownership category
- akta.pro rank
Gem Finance industry classification
Industry- Product category
- Consumer Lending
- NAICS
- Credit Card Issuing (52221), Sales Financing (52222), Credit Intermediation and Related Activities (522)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Direct Lending — Specialty Finance (Consumer/SME Lending Platforms) (FSAHAJAF)
Keywords
Where Gem Finance is headquartered
LocationHeadquarters
- HQ city
- Auckland
- HQ country
- New Zealand
- HQ region
- Oceania
Offices1 record
Markets served
Gem Finance business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others
Revenue model
- Credit Card Interest: Interest revenue on outstanding credit card balances after promotional/interest-free periods expire. Prevailing rate of 29.49% p.a. for Gem Visa.
- Annual/Membership Fees: Annual fees charged for credit card membership: $65 for Gem Visa ($32.50 half-yearly), $65 for Gem CreditLine ($32.50 half-yearly)
- Establishment Fees: One-time establishment fees for new credit accounts: $55 for Gem Visa
- Personal Loan Interest: Interest revenue on personal loans with rates ranging from 8.99% to 29.99% p.a. depending on secured/unsecured and credit profile
- Interest-Free Promotional Finance: Merchant-funded interest-free periods at participating retailers, generating interchange revenue on promotional transactions
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Gem Visa Credit Card with 0% interest-free periods and standard revolving credit |
| Transaction based/ take rate | Monthly | Balance Transfer promotional rate |
| Subscription | Monthly | Secured Personal Loan - Variable Rate |
| Subscription | Monthly | Secured Personal Loan - Fixed Rate |
| Subscription | Monthly | Unsecured Personal Loan - Variable Rate |
| Subscription | Monthly | Unsecured Personal Loan - Fixed Rate |
| Subscription | Monthly | Broker Channel Personal Loan - with establishment fee |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels5 records
Gem Finance product offering
Product offeringCore offering
Gem Finance, operating as Gem by Latitude, provides consumer finance products to New Zealand residents, including three credit card variants (Gem Visa, Gem CreditLine, Gem Essential) with interest-free promotional periods and revolving credit, as well as fixed and variable rate personal loans for car purchases, debt consolidation, and lifestyle needs. The company distributes directly through an online portal and mobile app, via accredited finance brokers, and through hundreds of participating retailers offering interest-free in-store financing.
Product overview
Gem Finance, operating as Gem by Latitude, is a consumer finance company offering a portfolio of credit and lending products. The core products include three credit card variants (Gem Visa, Gem CreditLine, and Gem Essential) providing interest-free promotional financing and standard credit facilities, alongside a comprehensive personal loan platform covering car loans and debt consolidation with both fixed and variable rate options. These products are supported by the Latitude App for mobile account management, calculator tools for financial planning, a broker portal for intermediary distribution, and customer support services including Hardship Care for those experiencing financial difficulty. The company operates exclusively in New Zealand under Latitude Financial Services Limited.
Differentiator
Problem solved
Functional benefit
Products and services
- Gem Visa Gem Visa is a credit card offering interest-free promotional payment plans at participating retailers, balance transfer options, and standard revolving credit facilities for New Zealand consumers. It carries a prevailing interest rate of 29.49% p.a., $55 establishment fee, $65 annual fee, and 0% interest for 6 months on purchases of $250 or more.
- Gem CreditLine Gem CreditLine is a credit card product offering revolving credit facilities for New Zealand consumers with a 29.95% p.a. prevailing interest rate and a $65 annual fee charged at $32.50 half-yearly. It includes a cash advance fee of $6.
- Gem Essential Gem Essential is a credit card product positioned as a basic, lower-fee offering compared to Gem Visa and Gem CreditLine for New Zealand consumers seeking straightforward credit facilities.
- Gem Personal Loans Gem Personal Loans provide fixed or variable rate consumer loans for New Zealand residents with loan amounts from $2,000 and terms up to 7 years. Secured loans range from 8.99% to 28.99% p.a., unsecured from 9.99% to 29.99% p.a., with $0 establishment fees and no early repayment fees. Repayments can be weekly, fortnightly, or monthly, with a redraw facility available on variable rate loans.
- Gem Car Loans Gem Car Loans are specialized vehicle financing loans provided through the Gem Personal Loan platform, allowing New Zealand customers to finance car purchases at secured personal loan rates from 8.99% p.a. with flexible repayment options and no early repayment fees.
- Debt Consolidation Loans Debt Consolidation Loans from Gem Finance allow New Zealand consumers to combine multiple existing debts into a single personal loan with one repayment schedule, offered as part of the Gem Personal Loan product range.
- Balance Transfer Balance Transfer is a promotional feature for Gem Visa cardholders offering 6.99% p.a. for 6 months on balances transferred from non-Latitude credit cards, with a minimum transfer of $500 and up to 85% of the credit limit eligible.
- Latitude App The Latitude App is a mobile application for iOS and Android that allows Gem Finance customers to manage credit cards and loans, including balance viewing, transaction history, payments, card management, account settings, and eStatements. It carries a 4.8/5 App Store rating.
- Broker Portal The Broker Portal is an online platform for accredited finance brokers to estimate client interest rates, submit personal loan applications, and manage their client relationships with Gem Finance, supported by local underwriting and settlement teams.
Quantifiable outcome
- 60-second application decision time for credit cards
- +2 more outcomes
Companies that use Gem Finance
Customer profileSegments3 records
Ideal customer profiles3 records
Gem Finance technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature4 records
Gem Finance partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and supporting.
- Apple PaycoreDigital wallet integration allowing Gem Visa cardholders to make contactless payments using Apple devices (iPhone, Apple Watch, iPad, Mac with Touch ID)
- Google PaycoreDigital wallet integration enabling Gem Visa contactless payments on compatible Android devices with NFC technology
- Garmin PaycoreDigital wallet integration for Garmin Vivoactive 3 and compatible devices allowing contactless payments via smartwatch
- Hallmark InsurancesupportingConsumer credit insurance partner providing payment protection for Gem credit card holders in case of sickness, injury, or job loss. Contact: 0800 220 999 or [email protected]
- Participating RetailerscoreHundreds of retail partners offering Gem Visa interest-free payment plans for purchases at online and physical store locations
Scale indicators1 record
Recent moves6 records
Expansion highlights4 records
Gem Finance competitors and assessment
Company assessmentDirect peers
- Humm Group: Australia/NZ retail finance provider offering interest-free instalment plans and personal loans at point-of-sale. Direct competitor in interest-free retail financing (BNPL-adjacent) and personal lending, with similar merchant-funded revenue model and customer segments.
- Avanti Finance: NZ consumer credit provider offering personal loans, debt consolidation, and asset finance. Direct competitor in the NZ non-bank consumer credit space with similar product breadth and target customer segments.
- Finance Now (Heartland Group): NZ consumer finance provider (subsidiary of ASX-listed Heartland Group) offering personal loans, vehicle finance, and retail credit to New Zealand consumers. Direct competitor with overlapping personal loan and credit products distributed via broker and direct channels.
- Harmoney: New Zealand consumer lending marketplace offering personal loans to individuals for similar use cases (debt consolidation, home improvements, vehicles). Direct competitor to Gem Finance's personal loan product with comparable rate ranges and risk-based underwriting.
Emerging players
- Laybuy Group: New Zealand-founded buy-now-pay-later operator offering interest-free instalment payments at retail point-of-sale. Competes with Gem Finance's interest-free retail financing by addressing similar consumer credit needs through an alternative product structure.
- Zip Co: ASX-listed global BNPL and consumer credit provider with NZ operations offering interest-free instalment payments and revolving credit. Competes with Gem Finance's interest-free retail finance and balance transfer products using digital-first distribution and similar customer acquisition tactics.
- PartPay (Openpay): BNPL/retail credit provider operating in Australia and New Zealand offering interest-free payment plans at participating merchants. Competes with Gem Visa's interest-free retail financing through merchant-funded instalment products targeting similar retailer and consumer segments.
Broad incumbents
- Latitude Financial Services: Parent company of Gem Finance, operating consumer finance brands across AU and NZ including personal loans, credit cards, and retail finance. While Gem is a subsidiary, Latitude is the broader group benchmark and competes with the same product categories at a group level across 1.8M+ customers.
- ANZ Bank New Zealand: One of New Zealand's largest retail banks offering credit cards, personal loans, and overdraft facilities. Broad incumbent competing across all of Gem Finance's product categories with larger balance sheet scale but slower digital experience.
- Co-operative Bank New Zealand: NZ retail bank providing credit cards, personal loans, and consumer finance products. Broad incumbent competitor with bank-grade infrastructure competing for similar personal loan and credit card customers across New Zealand.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Gem Finance compliance and trust
Trust signalCompliance1 record
Gem Finance financial estimates
Financial estimateRevenue estimate
Valuation estimate
Gem Finance leadership team
Management profileNumber of profiles
Profiles1 record
Gem Finance funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Gem Finance M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Gem Finance
What does Gem Finance do?
Gem Finance, operating as Gem by Latitude, provides consumer finance products to New Zealand residents, including three credit card variants (Gem Visa, Gem CreditLine, Gem Essential) with interest-free promotional periods and revolving credit, as well as fixed and variable rate personal loans for car purchases, debt consolidation, and lifestyle needs. The company distributes directly through an online portal and mobile app, via accredited finance brokers, and through hundreds of participating retailers offering interest-free in-store financing.
Is Gem Finance a public or private company?
Gem Finance is a private company. It is classified as corporate owned and is currently operating.
When was Gem Finance founded?
Gem Finance was founded in -1.
Where is Gem Finance based?
Gem Finance is headquartered in Auckland, New Zealand, in the Oceania region.
How does Gem Finance make money?
Five revenue lines are on record. Credit Card Interest is the primary driver. The others are annual/Membership Fees, establishment Fees, personal Loan Interest and interest-Free Promotional Finance.
Who are Gem Finance's main competitors?
Direct peers on record are Humm Group, Avanti Finance, Finance Now (Heartland Group) and Harmoney. Emerging players are Laybuy Group, Zip Co and PartPay (Openpay). Broad incumbents are Latitude Financial Services, ANZ Bank New Zealand and Co-operative Bank New Zealand.
Does Gem Finance have an API?
No public API is recorded for Gem Finance.
What industry is Gem Finance in?
Gem Finance's product category is Consumer Lending. Its primary akta.pro industry code is FSAHAJAF, Direct Lending — Specialty Finance (Consumer/SME Lending Platforms). Its NAICS code is 52221 and its SIC code is 6141.