David Baldarelli – AI-driven fintech
A digital bank with credit union roots, gone too soon.
Failure teaches more than success.
motusbank launched in 2019 as the fully digital arm of Meridian Credit Union, Canada’s largest credit union.
The promise: low fees, simple online banking, and the trusted Meridian brand.
But even with solid backing, the bank closed in 2025. Why?
- Tough competition from established banks and fintech challengers.
- Slow adoption in Canada’s conservative banking market.
- High operating costs vs. limited customer growth.
📌 Lessons:
- Brand strength isn’t enough without a unique edge.
- Even incumbents struggle when digital isn’t their core DNA.
- Canada’s regulatory and consumer environment demands patience — more than startups can usually afford.
Failure is a signal, not a sentence. We learn, we adapt, we move forward.
Meridian Credit Union team — thank you for the bold attempt and lessons that strengthen the ecosystem.
👉 To regularly learn from fintech fails with empathy and lessons, follow our LinkedIn page: FinBox Solutions
#FintechFails #fintech #startups #founders #growth #lessons #neobank
David Baldarelli, CPA, CMA, MBA, ICD.D
Bill Maurin
Jay-Ann Gilfoy
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