Meet GN Compass: The ICO Attempting to Disrupt Liquidity In The Lending Market

Shazir Mucklai |


Last week, I interviewed the CEO of GN Compass. I thought his Crypto was interesting and thought it would be neat to interview his company as we haven't seen anything similar yet.

Mucklai: Can you briefly share your background with us please?

Collins: I worked for 2 of the top 5 banks in Canada. CIBC and BMO (Bank of Montreal). During my time at the Bank of Montreal I gained valuable knowledge of the financial system especially in the lending market. I was awarded a “Best of the Best award” for lending product sales; mainly our credit card division. I left banking and pursued a brief stint in the trades where I ended up at Canadian National Railway (CN Rail).

Mucklai: How did you get started?



Collins: I left the railway, cashed out my pension and started my own lending company; Great North Capital Inc. We have successfully funded approximately 100 loans; primarily focusing on high risk clients. Based on my accumulative knowledge and experience in both banking and running Great North Capital, I started to develop the idea for a peer-to-peer lending solution where there is very limited risk to the investors (lenders) while making loans liquid. Also by having our own credit system for borrowers, they have the opportunity to improve their credit rating on the platform by making timely payments and having no delinquencies. At the same time, I was learning more about cryptocurrencies and blockchain technology. I quickly realized the huge potential of the blockchain and how it can solve the liquidity problem as well as securing an investor’s principal capital; which are the main issues of current peer-to-peer lending platforms. I got in touch with Jean Pierre Rukebesha who immediately liked the idea and decided to come on board as co-founder and CFO. Hence GN Compass (Great North Compass) was born.

Muckai: What is your firm focused on these days?

Collins: Our firm is currently focused on multiple accomplishments. We have recently launched our marketing campaign for our upcoming token sale on the 29th of January 2018, we are creating our crowd funding system, working on platform architecture, design and development, completing any and all necessary tests; all while meeting and discussing with investors as we have drawn a lot of interest from both private and institutional investors.

Mucklai: Please describe GN Compass' business model?

Collins: GN Compass provides Cryptocurrency-Backed loans ™ to create constant liquidity in the lending market. This is accomplished by allowing investors to sell portions of loans in their portfolio. Investors are not locked in to the term of a loan. So, if an Investor wants to opt out of a loan agreement before the loan term for any reason (financial emergency, increased price of the GNCT in the exchange market, etc.), they can! All they would be required to do is sell their loan or loan portfolio to other investors, thereby allowing the new investors to reap the benefits of the loan repayments made by the borrowers while the selling investor makes a profit.

Borrowers can access funds at a fraction of the time compared to banks and pay lower interest rates. For example, a standard Credit Card typically charges a 19.99% interest rate; our highest risk rating is “D”, which falls under our microloans division and has an APR of 16.99%. Also, we have our own credit system that doesn’t just use consumer aggregation (credit scores) to make loan decisions but also considers mobile, social media and other analytics to create a full picture of our borrowers. We feel that borrowers should not be classified solely by their credit scores or required to put up their assets as collateral just to get good quality loans.

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