Mogo, featuring its red hanging sign and dark windows, looks like any other store on western Queen West. However despite its on-trend design and wall surface stocked with Herschel bags and United states Apparel graphic teas, this store is really a bank of types. Really, it is a lot more of a finance-focused lounge for youthful, metropolitan 20-somethings.
"Mogo is a financial brand which is truly focused on millennials, " says Chantel Chapman, Mogo's Financial Fitness Coach. She teaches the company's Adulting 101 courses.
"We truly believe that you don't need to enter a bank branch or a finance retail part anymore because basically your bank branch is on your own phone now, " she goes on.
Essentially, Mogo is trying to interrupt the world of financial, just like Uber shook-up the taxi business. Even though the business is dependent on the web, it now really wants to occur into the real world too. So, it opened a permanent bricks-and-mortar storefront.
Management Christina Kavanagh informs me that when you will come in and join Mogo - utilizing in-store iPads or perhaps you get phone - the area is much more about education than product sales. Though when you're in, needless to say, you can easily find out your credit score and inquire about getting loan.
Since Mogo's centered on millennials, the space is quintessentially 2016. There's a marquee indication quoting Game of Thrones ("A Lannister constantly pays his debts. End up like a Lannister).
There is Mogo-branded swag every-where, including the aforementioned Herschel bags, t-shirts and caps.
Mogo condoms featuring the lines, "Getting screwed by the banks?" and "Getting screwed by charge cards?" will also be available; I expected they may be truth be told there to motivate passersbys to train safe financial.
Since this is a lounge and never a lender, per proclaim, the rear area features a couch, a coffee table and a few comfy seats. A book rack distinguishes this section from the rest of the store and it fittingly holds titles such Freakonomics and Howard Schultz's Onward.
Like many brands, Mogo is collaborating with regional influencer, musicians and developers. Some, eg Kastor and Pollux, will eventually have their styles on the company's pre-paid Visa cards. Today, you can easily spot their run Mogo's no-cost water containers.
I go in going to hate the space. Finance companies make me personally nervous and I also'm skeptical about whatever screams "millennial." The staff, but tend to be beautiful together with room is available to those who only want to hang out and discuss Beyonce's Lemonade, all while using Mogo's no-cost WiFi, naturally.
alexis