The Montreal-based bank is preparing to introduce a chequing account with a three per cent interest rate that consumers can open online. The new product under president and CEO Rania Llewellyn is part of the bank’s digital push that aims to draw more customers outside Quebec. (The Canadian Press)

Talking point: Currently, Laurentian has 60 branches all within Quebec that provide consumer banking services (the bank has business services offices in other provinces for commercial banking). Typically, Laurentian’s customers have had to physically visit a branch to open an account, which limited the bank’s ability to attract more deposits and acquire customers outside of its home province. While the firm is looking to improve its technology, it’s been a laggard compared to competitors. The Big Six banks, by comparison, already allow customers to open personal accounts online, while digital banks like CIBC’s Simplii Financial and Scotiabank-owned Tangerine have built their business model around operating completely online.