Historically, Canada’s financial industry was established by the country’s largest banks and well-established insurance companies with international services and products. Today, many finance brands are designed for the tech-savvy, fast-paced lifestyle so you can stay on top of your investments, savings, and financing plans on your mobile app or desktop.
Fintech companies take all the traditional insurance, investment, and financial products from larger, more established companies and make them easily accessible through user-friendly platforms and investment options that are affordable and easy to monitor.
Canadians have more choices than ever regarding financing brands, from personal banking, credit products, and investing services to small business consulting and more. Some of the most recognizable finance brands include Moneris, which processes debit and credit card transactions.
National Bank Direct Brokerage, a Montreal-based investment firm, a fintech company, and Credit Canada Debt Solutions provides payment plan options and financial services for debt consolidation, debt management education, and related programs. Sunlife Financial is a long-standing wealth management company that offers a selection of investment, insurance, and financial planning options.
With the rising popularity of cryptocurrencies, online investing, and the demand for quicker solutions, plenty of new finance brands and online companies provide various convenient services and products for customers.
Some of the most popular brands include Mogo Financial, a web-based and mobile-friendly platform that provides pre-paid credit, investment options, and Bitcoin, along with free monthly credit reports.
KOHO Financial is another application-based platform that provides Canadians with user-friendly financial products. Wealthsimple is another well-established platform that offers excellent options to grow and manage your savings, with various products including personal savings, TFSA accounts, stocks, and cryptocurrencies.
Many third-party platforms and financial services offer financing programs, loans (business and personal), debt management, and other tools and education to help individuals and companies grow their funds for short-term and long-term financial goals.
Many finance brands offer an easier way to complete your annual tax return, acquire a loan for a startup, or increase your savings over time. SimpleTax, a Vancouver-based firm, offers a quick and resourceful way to complete your taxes so that you can reduce the costs associated with this service.
Car Loans Canada offers financial services to new car owners looking to finance the purchase of a new or pre-owned vehicle for personal or professional use.
In recent years, there have been several new online-based financial companies with their brand of services, whether you’re looking to start a cryptocurrency investment, register for a credit card, or apply for a loan.
The option of mobile banking and investing has become a significant game-changer in how individuals manage their portfolios and financing, from stocks and cryptocurrencies to daily banking and mortgage payments.
Canada features many new, innovative finance brands while offering traditional investing and financial management services to Canadians and internationally.
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This depends on whether the financial company offers a full suite of daily banking services or focuses more on investments, credit, and cryptocurrencies. Ideally, it’s best to keep your regular chequing or savings account and add on an app to make investments as needed.
Yes. It’s always best to review various companies and inquire about interest rates. Once you apply for a loan and receive approval, it’s best to focus on your repayment plan so that you can improve your credit for future loan applications.
Many mobile apps that feature various products are easy to join within just a few minutes. If you’re applying for a loan or credit card, this process can take up to 10 minutes.
Traditional banking remains common in Canada, though many Canadians are open to exploring newer banking online, including mobile app banking, financing, and investing.
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