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Canada Mobile Banking Emerging Features Benchmark


  • This is a preview of Insider Intelligence’s 2021 Canada Mobile Banking Emerging Features Benchmark, accessible solely to subscribers.
  • In addition to cellular banking protection, Insider Intelligence publishes hundreds of items of content material, together with analysis experiences, charts, and forecasts on the monetary companies trade. You can study extra about changing into a consumer right here.

The Canadian banks that supply essentially the most fascinating


cellular banking

app options in 2021 are RBC, TD Canada, and BMO, in line with the inaugural Insider Intelligence Canada Mobile Banking Emerging Features Benchmark.

Growth in smartphone penetration is slowing

Smartphone banking adoption will gradual.

Insider Intelligence


After an uptick in 2020, development in Canadian customers’ smartphone banking adoption will gradual to a trickle, in line with an Insider Intelligence forecast. Financial establishments (FIs) can now not depend on new smartphone house owners to develop their ranks of cellular customers, and they should distinguish their cellular choices to realize the higher hand once they compete for brand spanking new prospects. 

The Insider Intelligence 2021 Canada Mobile Banking Emerging Features Benchmark examines the choices of the seven largest Canadian FIs by belongings to find out which banks finest meet buyer demand for superior cellular banking options. 

Heads of product and channels use this report back to gauge cellular efficiency and plan their product highway maps. It highlights which of 42 superior cellular banking options the highest seven Canadian FIs by belongings deploy, and makes use of a devoted survey of 1,187 Canadian customers fielded in November and December 2020 to find out which of these options they most demand.

Here is what units aside the main FIs within the Canada Mobile Banking Emerging Features Benchmark:

RBC Offered the Most In Demond Mobile App Feature Set

RBC provided essentially the most in-demand cellular app characteristic set.

Insider Intelligence


First place: RBC was a top-three performer in three of the 4 classes of options that survey respondents say they worth most: The financial institution tied for first within the Account Management and Alerts classes and tied for second in Transfers. It was additionally a top-four performer in Security and Control in addition to Customer Service.

  • Score: 57.7% of complete doable factors.
  • Noteworthy characteristic: NOMI Find and Save robotically strikes a secure amount of cash into customers’ financial savings accounts on their behalf.

Second place: TD narrowly beat out the financial institution that positioned third, main the Transfers and Customer Service classes, tying for first in Security and Control, and coming in second in Digital Money Management.

  • Score: 55.6% of complete doable factors.
  • Noteworthy characteristic: TD Clari, an clever chatbot assistant that may full duties comparable to breaking down spending or answering customer support queries. 

Third place: BMO led the Digital Money Management class and tied for first in each Security and Control and Alerts.

  • Score: 55.3% of complete doable factors.
  • Noteworthy characteristic: CashTrack, a element of its BMO Insights private finance administration answer, predicts money flows and recommends options to potential shortfalls.

The Insider Intelligence 2021 Canada Mobile Banking Emerging Features Benchmark ranks the seven largest Canadian monetary establishments by belongings in line with the energy of their cellular banking capabilities. It presents detailed benchmarking information on the provision of 42 cellular options, chosen by analysts primarily based on their utility, rarity, or novelty. Features had been weighted in line with the outcomes of a devoted survey of 1,187 Canadian customers who’ve used cellular banking.

The Canada Mobile Banking Emerging Features Benchmark covers Banque Nationale, BMO, CIBC, Desjardins, RBC, Scotiabank, and TD.

The full report is out there to Insider Intelligence purchasers. In addition to our 2021 Canada Mobile Banking Emerging Features Benchmark, Insider Intelligence publishes a wealth of analysis experiences, charts, forecasts, and evaluation of the Banking trade. You can study extra about accessing all of this content material right here. 

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