Fintech Symple Loans Joins the CLA, Giving Canadians an Online Borrowing Experience with Lower Interest Rates
TORONTO — November 18, 2021 — The Canadian Lenders Association (CLA) is pleased to welcome Symple Loans – a global lending fintech company offering low-cost personal loans for Canadian consumers.
Symple uses state-of-the art technologies to digitize the end-to-end borrowing experience for applicants and advanced analytics to offer credit-worthy, prime, and super-prime customers lower interest rates starting at 5.75%.
Gary Schwartz, President of the CLA, said, “We are very excited to welcome Symple as a member of the CLA. Their mission to lower the cost of borrowing for Canadians is great news for consumers looking for great rates and a fast and easy online application process. I look forward to working with Symple to support their innovative solutions that aim to better the borrowing experience for Canadians with the use of the company’s modern technologies, AI and advanced analytics.”
Symple has developed a set of proprietary credit and pricing strategies that includes the use of supplemental data sources. This allows the company to create a more complete picture of a borrower’s financial and employment situation and in doing so, more accurately assess the applicant’s creditworthiness and corresponding interest rate for a more personalized loan offer.
Symple uses the CLA’s data platform, Lenders API, to prevent loan stacking and to provide a fuller picture of each applicant in real-time and partners with CLA approved vendors Equifax and Flinks to offer a best-in-class digital lending platform in the Canadian market.
“Partnering with the CLA is an excellent opportunity to collaborate on the growth of fintech lending in Canada so Canadians have more choice and more flexibility. We’re excited to work with the CLA to innovate and evolve the space in a responsible way in Canada, which is critical in today’s environment,” says David Gold, President and Chief Operating Officer, Symple Loans Canada.
Visit www.sympleloans.ca for more information or to get your Symple Loan experience started.
About Canadian Lenders Association
The Canadian Lenders Association supports the growth of companies that are in the business of lending, or providing other means of credit, to small businesses and individuals by non-conventional or innovative means to exchange ideas and explore ways of improving the sector; encourage principled and professional practices by Innovative Lenders; educate the public at large about Innovative Lending; encourage individual potential borrowers to be informed about the appropriateness of Innovative Lending to the borrowers’ circumstance; and to advocate on behalf of, and represent the interests of Innovative Lenders.
Symple Loans Canada was established in February 2021 and is based in Toronto, Ontario. It is a subsidiary of Symple Financial Group which was acquired by Australian-based Latitude Group Holdings Limited in October 2021. Symple is a consumer financial technology company that uses its state-of-the-art digital lending platform, advanced analytics, and global best practices to offer unsecured personal loans. Symple’s global management team is comprised of technology, credit risk, operational risk, marketing, and investment management specialists with deep subject-matter expertise in Australia, Canada, Asia, and U.S. markets.