Credit Invisibles

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Canadian Lenders Association, is proud to host a series of workshops addressing tools, policies and fintech topics. The first in our series is on credit invisibles and "Credit Deserts" across Canada hosted by Perc Canada and TransUnion. Between 2009 and 2014, the percentage of Canadians using payday loans more than doubled from 1.9% to 4.5%. During that time, Canadians became the most indebted consumers among the members of the G7 (roughly, the 7 richest countries on earth), as household debt to income increased from 145% to 160%, and in 2017 hit a record high of 165%.



8:30 AM

8:30 AM

Registration & Networking Breakfast

9:15 AM

Upcoming Workshop: Credit Invisibles & Credit Deserts

PERC Canada estimates that nearly 6 million Canadians are “credit invisible.” This population either has no credit report (no-file population) with a nationwide consumer reporting agency (TransUnion, Equifax), or has insufficient data in their credit report to generate a credit score (unscoreable population).

Credit Invisibles in Canada are mostly lower income persons, immigrants, members of minority communities (including First Nations), younger and elderly Canadians, and the unbanked and underbanked (nearly 1 in 5 Canadians). They remain financially excluded, and face considerable barriers trying to build assets and generate wealth by home or small business ownership.

Credit Deserts are geographies where there are above average concentrations of Credit Invisibles, above average concentrations of Fringe Financial Institutions (FFIs), and below average concentrations of mainstream lenders (members of the Canadian Bankers Association), below average household income, and below average credit scores.

Given the combination developments: high levels of over-indebtedness, most Canadians being relatively asset poor (the OECD reports that just 44% of Canadians indicated an ability to cover existing costs for 6 months if income unexpectedly dries up), a shrinking mainstream bank branch footprint, and the growth and proliferation of FFIs—it seems highly likely that credit deserts are expanding within Canada.



March 6th, 2019


7:15 am – Registration

8:00 am – Start

11:00 am – Finish


Blake, Cassels & Graydon LLP‎
199 Bay St suite 4000, Toronto, ON M5L 1A9

2019 Innovative Lender Awards

Congratulations to Eva Wong and Andrew Graham for winning the 2018 LEADER OF THE YEAR leadership award.  The Tiffany & Co. crystal award was presented on Nov 21st at the Lenders Summit.

We are now welcoming 2019 Innovative Lender of the Year nominations. Innovative Lenders are defined as: Executives and thought leaders who think outside the box to develop and foster innovative concepts and strategies that help move the overall lending industry forward.

We invite you to nominate an innovative lenders for this award. Award recipients may include:

  • Solution providers servicing the lending community
  • Executives of B2B and B2C lending companies
  • Industry thought-leaders and rainmakers

Additional criteria will encompass some or all of the following three areas (please be as descriptive as possible in each response):

  1. Emerging lending technology solutions or business models that executives helped to advance.
  2. Specific innovative lending strategy or idea conceptualized and/or launched.
  3. Business results or positive outcomes, or expected results, following a successful implementation of the innovative strategy or concept.

We’ll also ask for any additional insights or comments related to the nominee’s qualifications for receiving an Innovative Lenders Award.

To nominate an executive click the NOMINATE link

Nominate for Award