FinTech Magazine July 2019 | Page 90

CASHCO FINANCIAL

Raymond Wilson , COO of Cashco Financial , discusses the company ’ s five core values and how they are driving the digital transformation of its customer journey

90

T oday , more than 30 % of Canadians are living from paycheque to paycheque . The number of people in debt is rising too , with the Bank of Canada reporting in May 2018 that the average Canadian typically owes around CA $ 1.70 for every dollar they own . Canadians are not just struggling financially : according to a report by NBC , financial pressure and consequential stress can both directly and indirectly affect mental and physical health . Millions of underbanked Canadians are in need of banking and money management services , of short-term loans to make it to the next paycheque , and of long-term services to nurture and support their aspirations .

The idea of Cashco has been rooted in a number of businesses founded by the company ’ s CEO , Tim Latimer . Cashco Financial as it exists today has been around for a decade delivering alternative financial services to the citizens of British Columbia , Alberta , Saskatchewan and Ontario , both through brick and mortar and online – providing over 140,000 clients with long and short-term personal
JULY 2019