March 15, 2022 Competitive Intelligence Update

Split the tab
RBC launched a new mobile app feature, Split with Friends, calling it a “first for a Canadian bank.”

Digital mortgage competitors
Questrade Financial launched an online mortgage service, positioning the QuestMortgage as quick and easy-to-use.
The news release hints at larger ambitions.

Other digital mortgage competitors include Homewise and Nesto, which partnered with Equitable Bank in 2021. Neo Financial is also planning to enter the mortgage market.

Toronto-based Ledn, a global digital asset savings and credit fintech launched a Bitcoin-backed mortgage, allowing buyers to use their Bitcoin as collateral.

A quick update on Milo’s crypto mortgage is also provided as well as a look at the crypto mortgage market.

Reverse mortgages
HomeEquity launched an educational series featuring Peter Mansbridge interviewing the bank’s executive in an effort to dispel myths about reverse mortgages.
Free CCUA webinar

Research available from Filene and the Conference Board of Canada.