Digital-Only Bank Account Openings in Canada

Timeframe20222023202420252026
Digital-only bank account openings (millions)Maximum of two rows can be charted.
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– % changeMaximum of two rows can be charted.
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– % of total digital account openingsMaximum of two rows can be charted.
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Source: eMarketer

Note: includes CDIC-backed full service bank accounts, credit union accounts, or brokerage accounts opened via web browsers or mobile app by an individual; excludes traditional banks; excludes accounts opened in person or over the phone but are managed through an online platform

Additional Note: Excludes credit cards and loans.

Methodology: Estimates are based on the analysis of data from respective bank corporate disclosures, reported and estimated non-interest expenses from major banks, estimates from other research firms, historical trends, GDP trends, technology expense trends, and macro-level economic conditions.

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