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Canada Post Launches Banking Services with Koho

Canada Post partners with Koho to launch chequing and savings accounts, aiming to fill gaps in banking services.

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Canada

TechnologyLabour MarketFinanceBankingFinancial ServicesPartnership

Canada PostKoho Financial Inc.Td Bank GroupCanadian Union Of Postal Workers

Lisa Liu

What features will be offered with the new accounts?: The accounts, called "MyMoney," will offer various features like high interest rates, cashback rewards, and credit-building tools, catering to diverse customer needs.
What new financial service is Canada Post launching?: Canada Post is partnering with Koho Financial Inc. to offer chequing and savings accounts nationally next year.
Why did Canada Post's previous lending program fail?: A previous attempt by Canada Post to launch a lending program with TD Bank failed due to processing issues, leading to a strategic shift towards savings and chequing accounts.
What is Canada Post's goal in offering these new services?: Canada Post aims to address gaps in banking services, particularly for new Canadians and those in rural, remote, and Indigenous communities.
Which company is partnering with Canada Post on this initiative?: The partnership with Koho will leverage Koho's financial technology and Canada Post's extensive network to provide convenient banking services.

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