Meridian’s new digital offering will also include savings, credit, and mortgages
A new name in digital banking is launching soon and aims to offer a different way for Canadians to manage their money.
Ontario-based credit union Meridian has been approved by OFSI to launch a nationwide digital bank offering a full-service including chequing and savings accounts, credit, mortgages, and investments.
Named motusbank, with motus meaning movement or motion, the digital offering will enable members (they don’t use the word ‘customers’) to do all their banking transactions online with support from real people via a call centre and other communications channels.
"Canadians are ready to experience a digital bank that puts its members at the centre of everything," says Bill Maurin, President and CEO of Meridian and motusbank. "We are building on Meridian's unique, member-centric focus and bringing the Meridian experience to all Canadians. motusbank will treat members as true partners, offering an exceptional digital experience, along with some of the most competitive rates and fees in the country. This is a smart banking option with the purpose of helping all Canadians live better, happier lives."
Meridian says its new bank will be able to offer lower costs because it doesn’t have shareholders.
Among its launch offers, motusbank says it has an “unreal” mortgage rate to offer its members.
"We are seeing some fundamental changes in what people expect from their financial institutions and how financial services are being delivered," says David Baldarelli, motusbank COO. "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."
Hi đź‘‹, motusbank here. We’re bringing a new movement in banking to Canada. Sign up with us to learn more and get in on our sweet launch offer. https://t.co/vfIM455xvH #meetmotusbank pic.twitter.com/hlima4Jntf
— motusbank (@motusbank) February 4, 2019
