Canada Mobile Banking Emerging Features Benchmark 2023 Part 2

Unpacking Offerings From the Top 7 Financial Institutions—and Opportunities to Improve

Report by Tiffani Montez  | Apr 4, 2023

Canada Mobile Banking Emerging Features Benchmark 2023

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How the Top 7 Financial Institutions Are Delivering on Features Consumers Demand Most

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Crosstabs
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The One-Pager
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Table of Contents
Executive Summary
Banks Are Missing the Mark on Mobile Innovation
No. 1: Security and Control
No. 2: Account Management
No. 3: Alerts
No. 4: Transfers
No. 5: Customer Service
No. 6: Digital Money Management
Glossary
Survey Demographics
Appendix
Sources
Media Gallery
About This Report
We break down consumer demand for emerging mobile banking features and bank performance by category to identify the most important tools Canadian banks should prioritize.
Topics
Banking
Canada
Table of Contents
Executive Summary
Banks Are Missing the Mark on Mobile Innovation
No. 1: Security and Control
No. 2: Account Management
No. 3: Alerts
No. 4: Transfers
No. 5: Customer Service
No. 6: Digital Money Management
Glossary
Survey Demographics
Appendix
Sources
Media Gallery

Executive Summary

Canadian banks will spend $7.73 billion on tech this year, per our forecast, with a significant portion going toward mobile apps. Yet many struggle to meet consumer demand for innovative features. Our exclusive survey data reveals what features banks should prioritize adding to close the gap and outpace the competition.

Key Question: How do the seven largest Canadian financial institutions (FIs) by domestic assets compare in their support for 42 emerging mobile features across six categories?

Top 5 Most In-Demand Mobile Banking Features in Canada, Jan 2023
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KEY STAT: Consumers want features that protect their accounts and financial data, with three of the five most valued features falling into the Security and Control category.

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Table of Contents

  1. Executive Summary
  2. Banks Are Missing the Mark on Mobile Innovation
  3. No. 1: Security and Control
  4. No. 2: Account Management
  5. No. 3: Alerts
  1. No. 4: Transfers
  2. No. 5: Customer Service
  3. No. 6: Digital Money Management
  4. Glossary
  5. Survey Demographics
  1. Appendix
  2. Sources
  3. Media Gallery

Charts in This Report

Top 5 Most In-Demand Mobile Banking Features in Canada, Jan 2023Security and Control Mobile Feature Rank and Score of the Top 7 Financial Institutions in Canada
Security and Control Mobile Features of the Top 7 Canadian Financial InstitutionsAccount Management Mobile Feature Rank and Score of the Top 7 Financial Institutions in Canada
Account Management Features of the Top 7 Financial Institutions in CanadaAlerts Mobile Feature Rank and Score of the Top 7 Financial Institutions in Canada
Alerts Features of the Top 7 Canadian Financial InstitutionsTransfers Mobile Feature Rank and Score of the Top 7 Financial Institutions in Canada
Transfers Mobile Features of the Top 7 Financial Institutions in CanadaCustomer Service Mobile Feature Rank and Score of the Top 7 Financial Institutions in Canada
Customer Service Mobile Features of the Top 7 Financial Institutions in CanadaDigital Money Management Mobile Feature Rank and Score of the Top 7 Financial Institutions in Canada
Digital Money Management Features of the Top 7 Financial Institutions in CanadaGlossary
Demographic Summary of Respondents, Canada Mobile Banking Emerging Features Benchmark, Jan 2023

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Download
Report
Crosstabs
Deck
The One-Pager
Share
Table of Contents
Executive Summary
Banks Are Missing the Mark on Mobile Innovation
No. 1: Security and Control
No. 2: Account Management
No. 3: Alerts
No. 4: Transfers
No. 5: Customer Service
No. 6: Digital Money Management
Glossary
Survey Demographics
Appendix
Sources
Media Gallery
About This Report
We break down consumer demand for emerging mobile banking features and bank performance by category to identify the most important tools Canadian banks should prioritize.
Topics
Banking
Canada
Table of Contents
Executive Summary
Banks Are Missing the Mark on Mobile Innovation
No. 1: Security and Control
No. 2: Account Management
No. 3: Alerts
No. 4: Transfers
No. 5: Customer Service
No. 6: Digital Money Management
Glossary
Survey Demographics
Appendix
Sources
Media Gallery
Download PDF

authors

Tiffani Montez

Contributors

Tyler Brown
Senior Analyst
Eleni Digalaki
Principal Analyst
Ona Koehler
Senior Director, Benchmarking
Na Li
Director, Primary Research