Date Posted: Oct 24, 2019
Fintech Advisory Service Summer 2019
Challenger Banks: A Canadian Perspective
As direct-to-consumer robo-advice firms have risen to challenge the established guard in wealth management, so to have new offerings emerging in the retail banking arena. Novel, digital and built around demand accounts: these are the three characteristics that define the ‘challenger banking’ movement in Canada. In the Summer 2019 issue of the Fintech Advisory Service, we profile and explore the emergence of new banking offerings in the Canadian marketplace, offer a taxonomy by which to categorize the “challengers,” and detail the challenges and opportunities that potentially stand in their path.
As direct-to-consumer robo-advice firms have risen to challenge the established guard in wealth management, so to have new offerings emerging in the retail banking arena. Novel, digital and built around demand accounts: these are the three characteristics that define the ‘challenger banking’ movement in Canada. In the Summer 2019 issue of the Fintech Advisory Service, we profile and explore the emergence of new banking offerings in the Canadian marketplace, offer a taxonomy by which to categorize the “challengers,” and detail the challenges and opportunities that potentially stand in their path.
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