New CBA research shows rapid growth in usage of new banking and payments technology
Majority of Canadians recognize value of banking innovations
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 02/07/17 -- The Canadian Bankers Association (CBA) today released the results of its latest research, How Canadians Bank, which shows that Canadians are embracing new banking and payment technologies and that a large majority of Canadians (90 per cent) recognize the value they get from banking innovation.
The research, commissioned by the CBA and conducted by Abacus Data, also reveals that 17 per cent bank primarily on a mobile device, up significantly from nine per cent two years ago. This is a sharp change from 14 years ago when 40 per cent said they banked mainly at an ABM, 30 per cent banked in branches and only 16 per cent did most of their banking online. Respondents credit banks for taking steps to provide secure, fast and convenient banking and payments solutions.
"Banks in Canada have long been leaders in the development of new technologies and innovations that make banking and payments fast, simple and convenient for customers, while maintaining customer trust and confidence in the safety and security of these transactions," said Terry Campbell, president of the Canadian Bankers Association. "Canadians of all age groups are not only increasingly using online and mobile banking and payments, they are telling us they anticipate doing more and more in the coming years. The fact that 44 per cent of Canadians used mobile banking in 2016 is evidence of this progress."
Digital banking and payments grow rapidly
Looking ahead
More Canadians than ever expect to be using mobile banking and payments in the coming years; a trend the 35 and under demographic are leading, but that Canadians 55 and older are contributing to in steady numbers.
Canadians overwhelmingly credit banks for leadership on banking technologies
"It''s clear that Canadians are excited about, and fully willing to take advantage of the numerous banking innovations that are unravelling before our eyes," said Mr. Campbell. "This is in no small part due to the fact Canadians say they trust their banks year after year, and view them as a partner they can rely on."
More of the key findings from the 2017 How Canadians Bank research can be found at:
Survey methodology
The survey was commissioned by the Canadian Bankers Association and conducted by Abacus Data. The findings are based on a phone-online hybrid survey of 1,262 Canadians aged 18 and over conducted from October 6 - 19, 2016. 817 interviews were conducted by telephone while 445 were conducted online. Results are valid within +/- 2.8 percentage points, 19 times out of 20.
About the Canadian Bankers Association
The Canadian Bankers Association works on behalf of 60 domestic banks, foreign bank subsidiaries and foreign bank branches operating in Canada and their 280,000 employees. The CBA advocates for effective public policies that contribute to a sound, successful banking system that benefits Canadians and Canada''s economy. The Association also promotes financial literacy to help Canadians make informed financial decisions and works with banks and law enforcement to help protect customers against financial crime and promote fraud awareness.
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Contacts:
Andrew Perez
Manager, Media Relations
Canadian Bankers Association
(416) 362-6093, ext. 219
Cell: (416) 587-7733
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Datum: 07.02.2017 - 06:00 Uhr
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