Finizi’s GIC Auction site gears up for RRSP Season

Since launching its live online GIC purchase engine across Canada last fall Toronto’s Finizi has been hard at work planning for the 2012 RRSP season.

Finizi recently finished its three-month pilot test of the platform, during which it generated millions of dollars in GIC sales and provided the absolute highest GIC rates in the country. For GIC auctions less than $100,000, consumers are now able to view the top bids within seconds. For auctions greater than $100,000, financial institutions have until the end of the day to bid. The company has also expanded their product offering with the introduction of TFSAs and monthly payout GICs.

For a limited time during RRSP season, Finizi is rewarding customers for using its service. Users that start an auction and complete a GIC purchase through the site will be entered into a draw. After the February 29th RRSP contribution deadline winners will be selected to receive a $10-50 gift card from a Canadian retailer like Tim Horton’s. Contest rules are posted on the company’s website.

Finizi also announces the launch today of its first educational financial tool – a credit card comparison and recommendation platform. This smart engine allows customers to input and rank order their credit card requirements. From the hundreds of credit cards available in Canada, they receive a recommendation on which cards are most suitable for their usage.

Finizi is the brainchild of Founder & CEO Daniel Shain, a 26-year old entrepreneur who was able to identify a gap in retail banking while working at one of the Big 5 Banks. The company recently added Michael Burden to its management team – Burden worked previously with GICDirect, one the biggest and fastest growing GIC brokerages in Canada, where he was the Co-Founder and CEO for the last 20 years.