• yads
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    1 year ago

    I wonder if any of the others will follow suit

    • Affaires de PiassesOPM
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      1 year ago

      WS is still a very small player in this field, so I’m unsure it will elicit any reaction from bigger players.

      • Victor Villas
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        1 year ago

        But they’re rocking, though. I can easily see them taking the place of one of the big ones in 5 years.

        • Affaires de PiassesOPM
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          1 year ago

          Nah, people are so used to traditional banks that they won’t move. You can often see people, even young people, saying that they are afraid of using Tangerine or Simplii because they don’t know them and don’t trust them. WS is a pure player that has no relationship to brick and mortars banks, so it’ll be even harder for them IMO.

          • Victor Villas
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            1 year ago

            People said the same in Brazil when Nubank appeared, but it’s now the second biggest bank in Brazil 🤷 the playbook is pretty similar for all of these fintechs, I can’t see why Canada would not follow the same path

            • chockblock@lemmy.world
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              1 year ago

              Another example is the cash app in the states. Lots of young people treating that like their bank account.