Apple Bank

HSBC says it's considering divesting itself of its multi-billion Canadian business.

Do you know who I'd really like to see buy HSBC's Canadian business?

Apple.

Or maybe Google.

Amazon, even.

Yes, I realize the Canadian banking industry is heavily regulated and that it's probably not easy (if not next to impossible) for this to actually happen.

Still, wouldn't it be interesting if the government were to allow it?

Wouldn't it be interesting if any of those big technology companies (all of whom are already in the payments business to varying degrees) decided that spending some of their pocket change on this acquisition would be an interesting test?

If they were interested in knowing if the people who already use Apple Pay / Google Pay / Amazon Pay regularly would be willing to extend their relationship to other financial products with the company.

An Apple savings account.

A Google G.I.C.

An Amazon chequing account, with all fees waived for Amazon Prime members, obviously.

Imagine a world where Canada's sixth bank was operated by a tech company as beloved as Apple, with products that were as cool, well-designed, and easy to use as all the other products Apple sells.

If that were to happen, we'd really get to see how many Canadians were truly fans of their banks...

... versus how many were simply choosing what they saw as the best option until something better came along.

It's unlikely to happen. But it's fun to imagine, isn't it?