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TransUnion Canada Q3 2023 Credit Industry Insights

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Abstract:

This quarter, we saw a new record in credit participation in Canada, with a 3.5% surge in credit-eligible consumers, driven by younger demographics. Average balances on major credit products grew as inflation and rising interest rates continued to influence personal cash flow. Yet, delinquency rates rose just slightly to 1.55% (still under pre-pandemic levels), reflecting Canada's enduring financial strength.

Join our live review of the Q3 2023 TransUnion Canada Consumer Insights Report as we delve into the latest credit market trends and analyses. 

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Speakers

Matt Fabian

Director, Research and Consulting

TransUnion Canada

Matt Fabian delivers industry insights around the consumer credit marketplace, and risk and lending dynamics facilitating solutions and strategies. He’s a recognized analytics, strategy and marketing innovator with over 25 years of experience driving profitable business growth through the strategic use and monetization of data and analytics. Prior to TransUnion, Fabian held senior roles in strategy and advanced analytics at BMO Financial Group in credit card, insurance and wealth management lines of business, as well as strategic consulting roles at The Polk Company and EuroRCSG. Fabian has contributed numerous articles, speaking appearances and published papers on both practical and strategic use of analytics. He holds a bachelor’s degree with honors in economics, a CPA and CMA designation and is a CFA charter holder.

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TransUnion Canada Q3 2023 Credit Industry Insights
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