Canada Mobile Banking Emerging Features Benchmark 2023 Part 2

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

Canada Mobile Banking Emerging Features Benchmark 2023

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

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?

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

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Tiffani Montez


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

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