I don’t often blog about banking in Canada; Because, let’s face it, I don’t want to put you to sleep. But, as I was reading today’s news, I came across an interesting turnaround by one of Canada’s larger banks: TD Bank. They appear to have been on a downward spiral of greed and customer gouging (the likes of which I don’t think I’ve ever seen).
I’m always wary of “recent studies” (and the press surrounding them) because they really only exist to drive the public relations effort of one company by fueling the press for another. In these cases, everyone but the reader wins. When I first read of this RBC insurance study on distracted driving, I knew something wasn’t right. Then it hit me, their apparent conclusion was Canadians are basically ass*****.
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For most of us, this means worse service, for a more expensive rate. This is what a company looks like when has no idea how to change beyond reactionary measures. For all Canadians, this should be incredibly disappointing for a service that forms such an important part of our society’s infrastructure.
The next big thing seems to be payment options, and to that end Canada looks to benefit from some really compelling options from start-ups looking to make a mark. One such company, Stripe, is billed as “Payments for Developers” – but that’s not the full story. Stripe now has some very compelling reasons why Canadian small businesses might be interested in this service.
I’m a Canadian living in Toronto. I’m not far from the American border (about an hour and a half of driving to the east or west, give or take a few minutes). Being in the technology industry – I am always coming across scenarios where a particular product is only available in the U.S. or the product may be significantly cheaper than it would be if purchased here in Canada. Even with our currencies almost at par, the lure of going to America to get the exclusive tech and bring it back is tremendous. While returning from a small road trip yesterday, I had some thoughts about cross-border shopping.