Apollo Global Management said that a booming part of private credit is already a $20 trillion industry and that the market as a whole may reach $40 trillion within the next five years.
An interesting article by James Crombie from Bloomberg News about the subject can be consult here.
Marc Gelinas, CEO for Margill, is currently attending the 64th edition of the annual congress of the Association of Economic Development Professionnals of the province of Quebec. (Association des Professionnels en développement économique du Québec – APDEQ), which is being held in the city of Sherbrooke.
This year’s theme is the equation of economic prosperity, inpired by quantum. Several workshops and activities are presented around this theme.
September 10, 2024 – Margill CEO Marc Gelinas is currently attending the Canada Fintech Forum in Montreal.
The Canada Fintech Forum is a landmark international gathering that aims to showcase emerging global trends in Fintech, new technology solutions for the financial industry and emerging Fintech start-ups. The Fintech Forum also aims to facilitate networking and collaboration between financial institutions, technology providers, start-ups and other key players in the financial services sector, as well as contribute to the visibility of Canada’s Fintech talent.
Photo Marc Gélinas – Canada Fintech Forum, Montreal
Q: How can we create a report which identifies all of the unpaid payments?
A: I would create and run a Transaction report.
1. Create a New report template. On the top right, pick up at least the Unpaid Pmt Line status (there could be other Unpaid Pmt Line statuses).
2. On the left from the “Transaction Data” theme, pick up at least Line Status, Pmt Date and Expected Pmt. I also included the Outstanding amount balance that will appear on each transaction.
3. Then add the loan identifiers such as loan ID, Borrower data, etc. (I moved them up for the report with the arrows on the right). You could also add an email, phone number, etc. so collectors can easily reach these clients. You could also email these clients directly in Margill (or automate the process, but I will not cover this here).
I called my report “Unpaid Pmts”. Run it for the desired loans and period. I ran mine for January 2024:
I have 4 unpaid payments. Notice the Outstanding amount on loans 10104 and 10392. This shows that these are bad payers since the Outstanding (balance) is higher than the current unpaid payment. You can show totals and export to Excel or other.
In Budget 2024, the Government of Canada announced its plan for the implementation of consumer-driven banking.
Consumer-driven banking, also known as open banking or consumer-directed finance, refers to frameworks that allow consumers and small businesses to securely transfer their financial data through an application programming interface (API) to approved service providers of their choice. Consumer-driven banking enables consumers to securely use data-driven financial services that can help them better manage their finances and improve their financial outcomes.
Consumer-driven banking may offer many benefits, but it’s important that Canada introduces it in a way that protects consumers.
For more information about the subject, visit this page on the Government of Canada’s website.
Always borrow from pessimists, they won’t expect to get paid back…
For 38 years now, American Bar Association Techshow has has brought together legal professionals and technology. This year, the ABA Techshow will take place at the Hyatt Regency in Chicago from February 14 to the 17th, 2024. Come say say hello to the Margill Team at booth 332 to learn more about how our software can help your law firm with Litigation and Client finance.
As it revisits decades-old regulations on what constitutes a criminal interest rate, Canada challenges lenders to remain profitable under substantially tighter margins.
These Regulations are necessary to implement amendments brought by the Budget Implementation Act, 2023, No. 1 to section 347 of the Criminal Code. The amendments will lower the criminal annual rate of interest from the current 60 per cent (effective annual interest rate) to an annual percentage rate (APR) of 35 per cent. They will also narrow the types of agreements and arrangements to which this criminal offence applies. Though not yet in force, the Regulations aim to combat predatory lending practices and reform Canada’s framework for consumer financial protection and regulation.
To read the whole story by Guillaume Talbot-Lachance, Matthew Connors and Kaliopi Dimitrakoudis, follow this link.
Ambassador Lorraine Diguer and the team of trade delegates from the Canadian Embassy in Tunisia met with Mr. Marc Gélinas, founding president of the Canadian company Jurismedia inc., his team as well as representatives of their Tunisian partner DevXperts (5Xperts Group). The discussion focussed on opportunities in Tunisia in addition to celebrating success of this excellent collaboration between actors working in the field of information technologies in both countries.
On the picture, you can recognize: third from the left Patrick Bronsard, senior programmer at Margill, Marc Gélinas, Ambassador Lorraine Diguer, Christiane Duguay, programmer, Mario head programmer and Sophie Binette also programmer at Margill.
To see original post on Facebook, follow this link.
Joe Patrice, senior editor at “Above The Law“, offers a helpful guide for anyone wondering how borrowing works for different people.
Earlier this week, Jonathan Turley’s thirst for attention led him to go on TV to describe “car loan payments” as corruption that “none of us have seen the likes of.” Turley is, of course, an idiot. But it did get us thinking: what are the rules for paying back money you’ve borrowed? So we’ve created this helpful annotated guide!
To find out more, follow this link.