Canadian Banking Challenger EQ Bank Surpasses $4 Billion in Total Deposits
EQ Bank, which is a digital, branchless platform offered by Equitable Bank, a Canadian banking challenger, recently surpassed $4 billion in total deposits, which has come about three months after it reached the $3 billion mark.
Although the demand for digital banking services has been growing fast, and it has been accelerated due to COVID, it’s the “broader value” of what EQ Bank offers Canadians that is leading to more consumers choosing to bank in a different manner, according to a release.
