Canadian who foresaw online banking was ahead of his time - The Globe and Mail | General financial discussion | Discussion forum

As many of us have already created various high interest savings accounts with different direct-to-consumer divisions of major Canadian financial institutions, I thought it poignant to highlight an article I read with interest in The Globe and Mail recently on one of the so-called pioneers of both Internet banking but also the so-called "virtual bank" model in Canada. He is none other than David Taylor, President & CEO of Pacific & Western Bank (as well its majority-owner Pacific & Western Credit Corp.), that offers its own savings accounts & GICs mainly through a network of deposit brokers. I've always known who he was, but didn't know of Pacific & Western's origins, that he left his position as a vice president with then-Hongkong Bank of Canada or that he was one of the so-called pioneers of Internet Banking in Canada.

Pacific & Western is definitely doing some interesting things, taking over as the exclusive issuer and servicer of the Home Hardware store credit card portfolio following the demise of Wells Fargo Financial Canada (formerly known as Trans Canada Credit), which used to issue the card.

I'm also sharing this link, a PDF version, in case this article disappears behind the The Globe and Mail's paywall.

It's definitely worth the read.

Cheers,
Doug