Haventree Bank Enters Digital Banking with New Platform

By Milan Rojan

Haventree Bank has launched a direct-to-consumer digital bank, marking its entry into Canada’s retail deposit market with digital savings and everyday banking products.

The launch has expanded Haventree Bank’s offering beyond its traditional alternative mortgage lending business, providing consumers with digital deposit products designed to simplify money management and savings. The move has reflected the bank’s strategy to broaden its customer base while responding to growing demand for digital-first banking services.

Fern Glowinsky, President and Chief Executive Officer of Haventree Bank, said: “Now, with the digital bank, we are extending that approach directly to Canadians, with deposit products that are simple, secure, and designed for steady growth over time.”

The new digital platform has introduced an Everyday Growth Account, a hybrid chequing and savings account that offers a 2.50% interest rate with no monthly fees or minimum balance requirements. Customers have also gained access to bill payments, Interac e-Transfers, direct deposits, electronic funds transfers and the ability to manage multiple accounts through a single platform.

Alongside the account, Haventree Bank has launched guaranteed investment certificates (GICs) aimed at customers seeking fixed returns. Deposits remain protected through the Canada Deposit Insurance Corporation (CDIC), aligning the offering with the regulatory safeguards available at other Canadian banks.

The digital bank has represented a significant milestone in Haventree Bank’s growth strategy, introducing the brand directly to retail customers for the first time. The bank has also indicated that additional financial products and digital tools will be introduced as it continues expanding its consumer banking proposition.

The launch has highlighted the continued shift among Canadian financial institutions towards digital banking platforms that combine mobile-first experiences with traditional banking products and regulated deposit protection.