PayNet, Inc. the premier provider of risk management tools and market insight to the commercial credit industry has appointed Todd Elliott as Director, Canadian Market Development. Mr. Elliott will assist Canadian commercial lenders to approve more transactions from their credit granting process, lower operating costs of portfolio management and mitigate the credit risk of lending to medium and small privately-held Canadian businesses,

Mr. Elliott has over 20 years in financial services and most recently was the Head of Retail Services at HSBC Financial Corp.  He also carried responsibilities for managing retail finance portfolios, some in excess of $500 Million.

“Commercial credit information has been thin or non-existent leading to higher costs for Canadian lenders. Todd’s efforts will help lower credit risk and reduce operating costs for PayNet members,” states William Phelan, president, PayNet, Inc.

Mr. Elliott is a Graduate of Laurentian University, holding a Bachelor of Commerce Degree. He will be located in PayNet’s offices in downtown Toronto.

PayNet, Inc. Canada is the premier provider of risk management tools and market insight to the commercial credit industry, collecting real-time loan information from leading Canadian lenders and turning it into actionable intelligence. The company's proprietary database -- updated weekly -- is a growing collection of commercial loans and leases, encompassing more than 909,000 reported contracts worth over $70 Billion. Using state-of-the-art analytics, PayNet converts raw data into real-time market intelligence and predictive information that subscribing lenders use to manage risk, lower operating costs, originate more loans and improve their business strategy. The company is based in Toronto, Ontario.  For more information visit  www.paynetonline.ca.

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