Canada Mobile Banking Emerging Features Benchmark 2022

How 7 Top Financial Institutions’ Mobile Apps Meet Customer Demand

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About This Report
This second annual benchmark evaluates seven Canadian financial institutions across six feature categories and weights their scores according to the results of a survey of mobile banking users in Canada.
Table of Contents

Executive Summary

Canadian financial institutions (FIs) are investing heavily to meet the demands of an increasingly mobile-first customer base. This second annual study reveals which of the seven largest Canadian FIs are best positioned to attract and engage digitally demanding customers, based on our analysis of 42 emerging features in their mobile banking apps.

3 KEY QUESTIONS THIS REPORT WILL ANSWER

  1. What are the most important emerging mobile banking features that Canadian FIs can offer?
  2. Which features do mobile banking users in Canada value most, both overall and within key customer segments?
  3. How do the top seven Canadian FIs compare in their support for features that mobile banking users value most?

WHAT’S IN THIS REPORT? An analysis of the most in-demand emerging mobile banking features an FI can offer to attract customers. This benchmark evaluates seven FIs across six feature categories and weights their scores according to the results of a survey of mobile banking users in Canada. The findings pinpoint mobile product development priorities for banks.

KEY STAT: Security and control features are top of mind for consumers, with three of the five most in-demand features falling into the category. And Social Insurance Number (SIN) monitoring was the most valued by a wide margin.

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Table of Contents

  1. Executive Summary
  2. Key Findings
  3. Introduction
  4. Methodology at a Glance
  5. Leading Canadian FIs in 2022
  6. Customers’ Most Valued Features in 2022
  7. No. 1: Security and Control
  1. No. 2: Account Management
  2. No. 3: Digital Money Management
  3. No. 4: Alerts
  4. No. 5: Transfers
  5. No. 6: Customer Service
  6. Methodology
  7. Glossary
  1. Survey Demographics
  2. Appendix
  3. Read Next
  4. Sources
  5. Media Gallery

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authors

Tyler Brown, Matthew Gaughan

Contributors

Caitlin Cahalan
Researcher, Financial Services
Ona Koehler
Senior Director, Benchmarking
Na Li
Director, Primary Research
Tiffani Montez
Principal Analyst, Banking
David Morris
Principal Analyst