Billi Announces New Partnership With Canoo
The Institute for Canadian Citizenship along with Billi Labs recently announced that together they would be offering fair and easy access to credit building and money-management systems that will help support newcomers to Canada.
Through this collaboration, eligible permanent residents and new citizens can download the Canoo app, become Canoo members and access Billi’s money-management platform, where they’ll be able to view and manage all of their financial details, track their expenses and see a breakdown of their spending by category. In addition, Billi offers automatic reminders for upcoming bills, subscriptions, and account forecasts. Billi is designed to make money-management simple, clear and accessible to everyone.
Newcomers to Canada are often at a disadvantage when it comes to building their credit. Billi is addressing this issue with the launch of “Boost”, their new Credit Building Feature. Through Boost, residential rent payments are tracked and subsequently reported to Equifax Canada, one of the two major credit reporting bureaus in the country. Newcomers to Canada will now have the opportunity to establish and build their credit simply by paying their rent on time.
Daniel Bernhard, CEO of the Institute for Canadian Citizenship indicates that, “Immigration in Canada is forecasted to reach record-high levels in the coming years, but for Canada to prosper, it’s not enough for immigrants to simply arrive: we need them to thrive. What Billi does to bring more accessible financial opportunities to newcomers is a vital service for our country.” Daniel went on to add that, “Just like their professional credentials, Canada doesn’t recognize immigrants’ pre-Canada credit history. Home owners have always been able to establish and build their credit with mortgage payments, but most newcomers are renters. Billi's new service that allows newcomers to convert rent payments into credit history will be a game changer for hundreds of thousands of newcomers, and, by extension, an incredible contribution to Canada's long-term success. We're proud to be a partner in this transformative initiative."
Billi’s CEO, Tyrone Sinclair states that, “Billi is passionate about bridging the financial inclusion gap by offering accessible financial insights to all Canadians. As we come out of a global pandemic, many are facing serious financial shocks; it is now more important than ever to provide them with hope, support and tangible opportunities to become more financially stable. Ultimately, Billi is here to help people.” According to Sinclair, their members value the simplicity with which Billi helps them improve their overall financial wellbeing and assures us that as Billi grows, they’ll be introducing more features that meet their members’ financial needs.
About Institute for Canadian Citizenship
Powered by a committed and passionate national network, ICC programs and special projects inspire inclusion, celebrate newcomers, and encourage active citizenship. Their goal is to unlock Canada for newcomers. Since 2005, their programs have worked to give every newcomer to Canada the chance to become fully involved in its history, culture and politics.
For further information, please visit www.inclusion.ca
About Billi Labs
Know more about your money – at a glance. Billi makes it easy to see where your money is going, so you can make informed financial decisions. Catch hidden fees, find that old subscription, and track bill payments - with Billi in your pocket, you’ll have more time and money to focus on what’s important.
For further information, please visit www.billi.app