This inaugural study, weighted based on responses to a consumer survey, ranks the seven largest Canadian financial institutions by assets according to their mobile banking capabilities. It presents detailed benchmarking data on the availability of 42 mobile features, selected by analysts based on their propensity to set FIs apart.
Three Key Questions This Report Will Answer
WHAT’S IN THIS REPORT? After an uptick in 2020, growth in smartphone banking adoption will slow to a trickle—and FIs can no longer rely on new smartphone owners to grow their ranks of mobile users. FIs will need to distinguish their mobile offerings to attract, engage, and retain customers. The Insider Intelligence 2021 Canada Mobile Banking Emerging Features Benchmark uses a dedicated survey of 1,187 Canadian consumers to identify the mobile banking features that consumers demand, highlighting features that the top seven Canadian FIs by assets deploy and the mobile functionality that consumers value most.
KEY STAT: RBC offered the most in-demand mobile feature set overall, scoring 57.7% of possible points in the study in a tight race—narrowly ahead of runner-up TD and two other close followers, BMO and CIBC.
Insider Intelligence publishes annual companion benchmarks for the US and UK.
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