Grow Founder and CEO Kevin Sandhu said the company has evolved, hence the name change.
“The name ‘Grouplend’ is no longer symbolic of the direction that our business is headed. Grow represents our commitment to building and nurturing technology-enabled financial services products to improve the lives of Canadians.”
Grow also introduced its free RateTracker technology which monitors clients’ credit metrics and sends them a monthly e-mail or text with an updated personal interest rate. This is an important step in transparency, Mr. Sandhu said.
“A lack of transparency in the financial services industry has resulted in consumers’ inability to truly monitor their financial health. People end up overpaying because they don’t always know what they should be paying.”
“RateTracker solves this. It can be used as a way to monitor your financial health every single month or as overdraft protection on your credit card. If you ever want to pay off your credit card balance instead of incurring high interest charges, you’re just a few swipes or clicks away from a loan at the rate that was quoted in your monthly update.”