A Message to Consumers & Industry: Certified Quality Management-in-Finance
Recognized - Respected - Trusted
A Message to Consumers of Financial Products and Services
In commerce, does quality matter to you?
Remember the last time you ordered something, convinced by the vendor that the quality of their product or service was good. After receiving the goods or services, you discover the quality was nothing near what you expected. Many consumers feel that the Canadian finance sector has a similar problem. Studies show that a significant number of Canadians are dissatisfied with their current experience with their existing banking and finance providers; from customer service to failing to meet customer requirements. Implementing a certified Quality Management System solves the problem.
Many organizations claim to offer a quality product or service in their websites and marketing material. Since 2008, MortgageQuote Canada Corp. is the only finance sector organization of it's kind, able to prove it offers quality.
Welcome to MortgageQuote Canada Corp.,
Where Quality Lives™.
Meeting Canada's National Standard for Quality Management
MortgageQuote Canada Corp. is Canada's only (and the world's first) quality managed finance sector organization that operates a risk-based, integrated Quality Management System (iQMS™) that is certified to comply with the rigorous requirements of the National Standard of Canada for Quality Management, namely ISO 9000 and ISO 9001; and, more specifically, ISO 9001:2015, for the scope of mortgage banking ("lending" in Canada) and mortgage brokerage operations.
No other finance sector organization in Canada is able to make this claim respecting certification to ISO 9001:2015 for the scope of mortgage banking ("lending" in Canada) and mortgage brokerage operations. World’s First: Canada’s Only - Proof
In our ever increasing world of investor and consumer uncertainty, those finance sector companies that are able to certifiably demonstrate that their operations are designed to provide safe, reliable and good products and services, will be pacesetters for the future.
Standards help to ensure better, safer and more efficient methods and products, and are an essential element of technology, innovation and trade.
The Future of Finance™
What are the implications to stakeholders (consumers, investors, regulators) who do not insist on this quality management level of performance?
Here are some names of businesses that shareholders and stakeholders wish had effective, certifiable quality management systems in place:
Principal Group (Canada)
Canadian Commercial Bank (Canada)
Tower Mortgage Ltd. (Canada)
Lehman Brothers (USA)
Home Capital Group Inc. (Canada and USA)
MortgageQuote suggests the following: do not become a customer, investor-shareholder, officer, director or stakeholder in a credit intermediation business unless the management and directors are able to demonstrate that the credit department (lending) has implemented an effective, certifiable quality management system (risk management system). In an industry based upon obligations, both to the regulatory bodies and general public, you owe it to yourself.
MortgageQuote's iQMS™ technology enables Investor-Shareholders to:
Trust your Trustees, Direct your Directors, Manage your Managers and Empower your Employees™
Investors-Shareholders Learn more here: Top Management Leadership & Commitment: Quality Starts at the Top
Quality Starts at the Top: Parliament of Canada
Cabinet Directive on Regulatory Management
In accordance with the Government of Canada Parliamentary Cabinet Directive on Regulatory Management (Part D, Selecting the appropriate mix of government instruments):
Departments and agencies are responsible for assessing the effectiveness and appropriateness of regulatory and non-regulatory instruments for achieving public policy objectives.
26. Departments and agencies are to:
ix. Make use of all or parts of relevant national or international standards, guidelines, and recommendations as a basis for technical regulations and for conformity assessment procedures when they fulfill intended policy objectives.
See Canada & Other National Governments (Government and Public Policy) page to learn more.
Quality Starts at the Top for Organizations: see Top Management Leadership & Commitment: Quality Starts at the Top
Regulatory Bodies include:
Innovation, Science and Economic Development Canada
Office of Consumer Affairs (OCA)
The Office of Consumer Affairs (OCA) promotes the interests and protection of Canadian consumers. Well-informed and confident consumers help stimulate competition and innovation in the Canadian marketplace.
Standards are technical specifications or other criteria that a product, process or service must meet. Standards provide information to consumers, manufacturers and retailers, and enhance safety, reliability and performance of the products, processes and services consumers use. Standards assure consumers about reliability or other characteristics of services provided in the marketplace. Standards also give consumers more choice by allowing one firm's products to be substituted for, or combined with, those of another.
To be credible, standards must have certain attributes:
- their development must be overseen by a recognized body
- the development process must be open to input from all interested parties
- the resulting standards must be documented and publicly available
- there is usually a method for monitoring and verifying that organizations are complying with standards.
Office of Consumer Affairs (OCA): Our Partners and Clients
[Our partners and clients include] National and International Standards Organizations
- Standards play an important role in helping improve quality of life and consumer confidence among Canadians. The OCA works with the Standards Council of Canada [SCC] and, at the international level, with the International Organization for Standardization (ISO) Consumer Policy Committee to help ensure the consumer voice is heard in the standards development process.
National Standard of Canada (NSC)
Standards are developed by Canada's standards development organizations (SDO) and submitted to the Standards Council of Canada (SCC) to see if they meet the criteria to become a National Standard of Canada (NSC). These criteria state the standard must: be developed by consensus of a balanced committee of stakeholders, undergo public scrutiny, be published in both official languages, be consistent with or incorporate existing international and pertinent foreign standards. Also, National Standards must not act as a barrier for trade.
ISO 9000, ISO 9001 and ISO 14001 adopted as National Standards of Canada in 2016
On April 18, 2016, the Standards Council of Canada (SCC) has approved ISO 9000, ISO 9001 and ISO 14001 as National Standards of Canada (NSC). ISO 9000 and ISO 9001 standards help businesses of all sizes be more efficient and ensure their products and services meet customer requirements. ISO 14001 provides practical tools to help businesses manage their environmental responsibilities.
ISO 9000, ISO 9001 and ISO 14001 were all published as National Standards in Canada by CSA Group [a SDO].
A component of ISO 9000 and ISO 9001, ISO 9001:2015 is an international standard developed by the Geneva, Switzerland-based International Organization for Standardization (ISO) and conformity to the standards provides you, the consumer, with the following benefits:
- Risk-based thinking approach
- "When products and services conform to International Standards consumers can have confidence that they are safe, reliable and of good quality." Source: (www.iso.org)
Certification to the Standard
There are very high standards to earn certification to ISO 9001:2015. An organization must volunteer to be audited twice per year by auditors; MortgageQuote's external auditor is duly accredited by the Standards Council of Canada (SCC).
- Source: SCC
ISO 9000, ISO 9001 adopted as an Organizational Operating Standard for MortgageQuote Canada Corp. in 2006 and certified thereto, consecutively, each year from 2008 to today
MortgageQuote is no startup. As of 2016, we are in our 11th year of operation and year 9/10 of certification to an ISO 9001 Quality Management Standard. MortgageQuote adopted the ISO 9001 Quality Management Standards as a company standard 9 years before the Government of Canada adopted ISO 9000 and ISO 9001 as a National Standard of Canada. As a result, we are in our 3rd generation system, having improved our processes from 2007 (ISO 9001:2000), to 2008 (ISO 9001:2008) and 2015 (ISO 9001:2015).
Standards of Excellence: Standards Council of Canada (SCC)
The Standards Council of Canada (SCC) is a federal Crown corporation. Its mandate is to promote efficient and effective standardization in Canada.
SCC reports to Canadian Parliament through the Minister of Innovation, Science and Economic Development Canada and oversees Canada's national standardization network. As Canada's member body to the ISO in Switzerland, it has the responsibility for overseeing the work of some registration and maintenance agencies in Canada. Learn about SCC
CSA Group: Stewards of Quality Management
When was the last time you saw a finance sector company with the following logo on it's website? You haven't.
The CSA Group publishes the National Standard for Quality Management for the Standards Council of Canada. All Canadians know the CSA Group logo and they trust CSA Group for: "it's knowledge and expertise encompass standards development; training and advisory solutions; global testing and certification services across key business areas including hazardous location and industrial, plumbing and construction, medical, safety and technology, appliances and gas, alternative energy, lighting and sustainability; as well as consumer product evaluation services."
For the first time in Canadian history, a finance sector company, namely MortgageQuote Canada Corp. is certified to the National Standard published by CSA Group, for the scope of mortgage banking (lending in Canada) and mortgage brokerage operations.
For decades, CSA Group has been the de facto steward of the renowned ISO 9000 series of quality assurance standards. Today, on behalf of the Standards Council of Canada, we hold the secretariat for ISO/TC 176, the international committee that maintains the ISO 9000 series for global use.
- We [CSA Group] are a standards development organization (SDO) accredited both in Canada and the U.S. This accreditation acknowledges that we comply with a specific set of accreditation criteria. As a result, our standards are recognized around the world for their balance, technical superiority, and ability to meet the needs of industry, regulators, manufacturers and consumers.
Standards Council of Canada (SCC) helping Canadian Industry meet the obligations to other Federal Departments and Agencies including: Ministry of Finance & it's related Regulatory Bodies
In Canada's finance sector, the Ministry of Finance and it's related federal and regional regulatory bodies (Office of the Superintendent of Financial Institutions. Provincial Securities Commissions); federal counterparts and regional organizations, establish statutory and regulatory rules that industry members must operate within.
When a Canadian finance sector organization is certified to an ISO 9001;2015 Quality Management System for a finance-related scope, certified by a Standards of Council of Canada (SCC) Accredited Certification Body; the organization demonstrates that it is able to "consistently meet customer, statutory and regulatory requirements, and build confidence. "
Reliance on international standards are in accordance with Canadian Parliament's cabinet directive on regulatory management. Learn more: Cabinet Directive on Regulatory Management
Nigel H. Croft: Chairman of ISO's Technical Committee TC 176/SC 2: Comments
ISO 9001:2008 (2015), Quality Management Systems – Requirements, is undoubtedly the best known ISO standard. It is widely used as a basis for independent (“third-party”) certification to demonstrate that an organization has a quality management system (QMS) enabling it to consistently meet customer, statutory and regulatory requirements, and build confidence.
That confidence is reinforced when the competence of the certification body is attested by an accreditation body – typically there is only one recognized accreditation body per country. Accreditation bodies may in turn choose to participate in multilateral recognition arrangements, under the coordination of the International Accreditation Forum (IAF), to facilitate international trade.
Nigel H. Croft on 9 September 2011
What's the bottom line on ISO?
ISO's work makes a positive difference to the world we live in. ISO standards add value to all types of business operations. They contribute to making the development, manufacturing and supply of products and services more efficient, safer and cleaner. They make trade between countries easier and fairer. ISO standards also serve to safeguard consumers and users of products and services in general - as well as making their lives simpler. Source: ISO.org/Faq's & iso_9000_selection_and_use-2009.pdf
Ask your Current Financial Services Provider: Why aren't you ISO 9001:2015 Certified?
Why can't - or won't - other financial sector companies who trade in mortgages, loans, investments or related products be certified to a Quality Management Standard in order to protect their shareholders, customers and stakeholders?
After you learn about us and what we have done to help bring safety, reliability and goodness to Canada's finance sector, why not ask your current financial services provider (mortgage lender, investment advisor, wealth manager) the following:
"What has your company done to make your financial products and services safe, reliable and of good quality?"
Quality Starts at the Top for Organizations: see Top Management Leadership & Commitment: Quality Starts at the Top
To learn more about the problem in the finance sector that MortgageQuote's devotion to Certified Quality Management-in-Finance, solves, please visit
- Problem Solved
- Benefits of ISO 9000
- Empirical Proof
(Registered Users Only)
"Where Quality Lives" is a trademark of MortgageQuote Canada Corp.