The State of Canadian FinTech in 2016

AdministratorBlog

In 2015, the financial technology or “fintech” revolution took flight in Canada. From coast to coast, tech-enabled upstarts are working hard to improve the financial well-being of everyday Canadians. Fintech companies achieve this goal by leveraging technology to make things faster, design a better customer experience, all while working to charge less than the big banks. See this infographic to view the various segments of … Read More

How To Make a Holiday Budget

AdministratorBlog

holiday budget tree

Holiday spending got you worried? You might need a budget. If you’re like most Canadians, you may be spending more on the holidays this year. A recent CIBC poll showed that we expect to spend on average $652 on holiday shopping this year. That’s on top of our regular monthly expenses. If you’re thinking, “I’ll just put it on my credit card and worry … Read More

8 Ways To Improve Your Credit Score

AdministratorBlog

checkingyourrate

Does your credit score need improvement? Here are 8 ways that you can improve it: 8. Pay Household Bills On Time Paying your bills on time every time is one of the best things you can do to improve your credit score. This shows any potential creditors that you are financially responsible. Creditors have different grace periods, so it is important … Read More

Get Out Of The Red This Black Friday

Robert PalumboBlog

outofthered

Did you know that Canadians spent an estimated $13.4 billion over Black Friday weekend last year? That is mind blowing. To put that figure in perspective, that is a greater dollar value than the annual GDP of Iceland . And that was 2014. In 2015, CTV News says that this Black Friday is projecting to be the largest on record. According to CTV , Canadian consumers have … Read More

Ten Myths About Your Credit Card Debt

AdministratorBlog

Credit card debt is rife with myths. What is really the truth about your debt and your credit score? Should you increase your limit or take that extra discount. And what about reward points? Here are some popular myths about credit cards that I will dispel. Myth 1: Holding several credit cards shows you have good credit. Quite the opposite. … Read More

Responsible Canadians Pay Way Too Much for ‘Bad Debt’

Robert PalumboBlog

baddebt

It used to be that when the going got tough, Canadians lived pay cheque to pay cheque. Today, too many good credit Canadians are living credit card interest payment to credit card interest payment. This is a difficult scenario, compounded by an increasing level of what is known as ‘bad’ debt. With credit card debt levels over $80 billion, responsible Canadians are paying … Read More

5 Questions with Toronto Mayor John Tory

AdministratorBlog

One of our favourite blog features is called “5 Questions With”, in which we pose 5 thought provoking questions to various prominent members of our community.  In this week’s blog post, we ask 5 Questions to Toronto Mayor John Tory! It’s been almost exactly one year since John Tory became Mayor of Toronto.  Recently, Mayor Tory travelled to London, UK and … Read More

FinTech Canada – The Unbundling Of Canadian Financial Services

Robert PalumboBlog

Unbundling of a Bank- Canadian Edition

  High-growth Canadian startups from coast-to-coast are leveraging financial technology (aka fintech) to challenge traditional banking verticals. We charted the unbundling above. To experience for yourself how Borrowell is using technology to offer lower rates and a better customer experience, click ‘Check My Rate’ below!