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Canadian challenger Meridian launches digital brand

David Baldarelli, COO at Motusbank

Canadian challenger bank Meridian has been given the go-ahead by the country’s Office of the Superintendent of Financial Institutions to launch Motusbank, its new digital banking brand.
The digital offshoot, set to open for business this spring, will allow Canadians to access bank accounts, investments and mortgages online, while offering digital customer service from a conventional call centre. Via Meridian, account holders will get access to one of Canada’s largest no-fee ATM networks.
“We are seeing some fundamental changes in what people expect from their financial institutions and how financial services are being delivered,” said David Baldarelli, COO at Motusbank. “We’ve responded to what Canadians want by developing a simple and intuitive digital platform that makes banking feel good, and an experience that makes people feel valued and secure. Motusbank members will have the right tools, competitive rates, and great service to manage their finances and overall health and wellbeing.”
He said members will have a say involving features and products via access to a feedback tool that allows them to contribute new ideas. Banking services, available online and via mobile devices, will include savings and chequing accounts, loans and lines of credit, investments and a digital mortgage platform.
He also promised that to win over customers from Canada’s big six lenders, the new venture would be offering exclusive low mortgage rate for new members.

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