Is EQ a real bank?

Excuse me, I've been hearing a lot about EQ recently and I'm wondering if it's truly a legitimate bank. Could you please clarify for me? Are they registered with a financial regulatory body? Do they offer traditional banking services like deposits, loans, and credit cards? Also, what about their security measures? How do they ensure the safety of their customers' funds? I'm just trying to get a better understanding before I consider opening an account with them. Thank you.