A clear focus on solving structural challenges, Spyros Retzekas, Deputy Chief Executive Officer, Qualco

By Vriti Gothi

Qualco was established a quarter of a century ago, offering collections and recoveries software. Today, it’s a FinTech partner covering the full credit value chain. IBS Intelligence speaks to Deputy CEO Spyros Retzekas.

Qualco started 25 years ago in collections technology, and early success with major financial institutions paved the way for international growth. Our interview begins with the turning points that have defined Qualco’s evolution.

“Looking back, it’s been quite a journey,” said Spyros Retzekas. “A key milestone was the establishment of our UK subsidiary, which became the foundation for our expansion across Europe and the Middle East.

“Over time, we built capabilities that span the entire credit value chain. We help clients streamline loan origination and servicing, modernise their digital banking infrastructure, and use data and automation to manage credit portfolios more intelligently. At the same time, we’ve expanded into supply chain finance, dynamic discounting, and factoring, enabling businesses to unlock working capital and strengthen liquidity.

“What truly defined our evolution was a clear focus on solving structural challenges through technology. That vision transformed us from a niche software company into a FinTech partner that drives endto-end credit transformation.”

Beyond adding new products, what has allowed Qualco to stay ahead of client needs in such a fast-moving industry?

“What allows Qualco to stay ahead of client needs is the way we combine deep market understanding, strong human capital, and continuous innovation, all anchored in close client engagement.

“We place a lot of emphasis on client intimacy. We’re not a distant technology vendor; we work side by side with our clients at every level, from senior executives to operational teams, to deeply
understand their challenges, regulatory pressures, and transformation priorities. This level of proximity gives us early visibility into emerging needs and allows us to co-create relevant, scalable, and future-proof solutions.”

Qualco now serves clients across geographies and industries. What has been the secret to building credibility beyond Greece and competing in highly demanding international markets?

“International expansion is a marathon, not a sprint. Our credibility abroad has been built on strategic focus, operational discipline, and genuine partnership with clients.

“From the outset, we have committed to understanding the unique dynamics of each market, rather than applying a one-size-fits-all model. Competing internationally requires meeting the highest global standards while adapting to local regulatory, cultural, and operational realities. Striking that balance has been essential to earning the trust of banks, financial institutions, and large corporates across geographies.

“We have also deliberated about how we scale. By building strong local teams, investing in governance and delivery excellence, and staying disciplined in our strategic choices, we’ve been able to grow sustainably and establish a credible presence in some of the world’s most demanding markets.”

Artificial Intelligence is reshaping financial services. How is Qualco embedding AI into its software and operations to boost productivity and create value for clients?

“AI is not new to us. Long before the recent hype, Qualco built strong advanced analytics and machine learning capabilities that have been at the core of our platforms for years. These technologies have enabled clients to automate decision-making, optimise operations, and unlock significant productivity gains and insights.

“What’s evolving is how we integrate generative AI into our solutions and internal operations. We see Gen AI as a powerful layer that can enhance user experiences, streamline complex workflows, and accelerate how clients and teams interact with our platforms. We focus on embedding these capabilities to drive tangible business outcomes rather than following trends.

“We’re actively working on new product developments in this space and will soon announce a major initiative to bring Gen AI deeper into our ecosystem and further extend the value we deliver to clients.”

Looking ahead, what is the next chapter for Qualco in terms of markets, products, and your role in shaping the future of FinTech?

“Looking ahead, Qualco’s next chapter is about scaling AI-native and cloud-based SaaS propositions that are flexible, modular, and globally deployable. We’re embedding AI by design into our platforms to enhance decisioning, speed, and user experience rather than treating it as an add-on.

“We’re also evolving our commercial and delivery models so clients can access our full value proposition in ways that suit their context and pace of transformation. Beyond our strong presence in EMEA, we’re gaining traction with clients in new regions and exploring how to bring our technology to even more markets.

“Our ambition is to help shape the future of FinTech through the combination of deep industry expertise and AI-first, cloud-native technology that delivers real impact at scale.”