Koho chases banking license, revolutionizing Canadian Fintech

Canadian fintech company, Koho, has announced that it is pursuing a banking license in order to expand its services. Currently, Koho offers a spending and savings account through partnerships with banks and financial institutions. However, obtaining a banking license would allow the company to operate independently. Koho CEO, Daniel Eberhard, states that the banking license is a crucial next step in building the best products in the country. The company has hired Peter Aceto, former CEO of Tangerine Bank, to assist with the banking license application.