The transfer app is moving into the daily routine
The most useful question about Wise's Canadian chequing launch is not whether another account is needed. It is the institution that becomes the customer's default.
On September 9, Chime agreed to acquire Oklahoma-headquartered Stride Bank for $590 million in an all-cash deal at 1.5x tangible book, subject to OCC and Federal Reserve approval, closing in the first half of 2027. Stride will rebrand as Chime Bank NA. Chime says it expects more than $100 million in net synergies from sponsor-bank fee savings, expanded lending, and a lower cost of funds.
If you're running a challenger bank, neobank, or fintech in Canada and you're not popping champagne right now, you haven't been paying attention.
Recent shifts in banking trends and innovations have redefined the landscape for the financial sector, and no new development has been more impactful than that of the neobank.