Two Canadian institutions rank among the world’s 100 top digital banks in 2026.
TABInsights’ annual ranking of the World’s 100 Best Digital Banks this year recognizes EQ Bank and Tangerine, both based out of Toronto.
TABInsights is the research arm of The Asian Banker, which was founded in Singapore in 1996 by Malaysian lawyer Emmanuel Daniel in 1996.
The Asian Banker launched the World’s 100 Best Digital Banks list starting in 2023, when four Canadians cracked the list: Tangerine and EQ alongside Simplii and KOHO, which recently raised major funding amongst other achievements.
Tangerine has made TAB’s Best Digital Banks list every year since inception, although 2026 marks the worst ranking for the bank so far (40th). EQ ranks 81st.
Moving forward, Tangerine Bank is preparing to expand beyond the straightforward savings accounts and no-fee banking that built its reputation.
Chief executive officer Terri-Lee Weeks recently stated that the digital institution, which ranks among Canada’s most valuable brands, plans to introduce new AI-enabled products and services as part of a reinvention of its business.
Tangerine also wants to bring financial planning and wealth-building capabilities, historically reserved for higher net worth clients, to a wider public.
Future offerings, according to Weeks, include advanced scam detection, streamlined onboarding, real-time spending insights, smarter budgeting tools, enhanced card controls, and bolstered business banking.
EQ Bank, meanwhile, has acquired PC Financial from Loblaw, including President’s Choice Bank, PC Financial Insurance Agency, PC Financial Insurance Broker, and certain affiliated entities, to reach an additional four million Canadian consumers—while also building out its business-side offerings.
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