There are definitely different models. One would be to just provide very basic banking services, such as cheque cashing and that kind of thing. Another might be for Canada Post to partner with existing banks or credit unions and deliver the service that way. It just seems like an interesting way to use Canada Post infrastructure that might be really beneficial, especially in more rural and remote areas.
Evidence of meeting #33 for Government Operations and Estimates in the 42nd Parliament, 1st session. (The original version is on Parliament’s site, as are the minutes.) The winning word was mail.