Canada Digital Trends in Financial Services Market Report
Everything you need to make the right decisions
Providing the most comprehensive and up-to-date information and analysis of the Digital Trends in Financial Services market, and the behaviours, preferences and habits of the consumer.
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What are the key challenges facing the industry? Who is the consumer and what do they want? Where are the opportunities, where are the risks and what lies ahead?
Covered in this report
As digital financial offerings mature, banks and other players in financial services must define their value proposition to encompass both digital innovation and traditional values to meet their customers’ needs. The competition in the consumer banking space not only includes large bricks-and-mortar financial institutions but also digital banks and technology providers looking to enter the lucrative retail banking space. While younger consumers are more open to embracing digital products, many older consumers are hesitant to go beyond routine digital transactions.
This report covers the latest trends in digital financial services. FinTech or financial technology refers to the ways in which technology is influencing financial services, or more specifically consumer financial services. The report examines the impact of digital trends on the financial lives of consumers and how they perceive future changes that are shaping the FinTech revolution. The questions addressed include what digital (online and/or mobile) products and services are most utilized by financial services customers, awareness and interest in digital products, attitudes towards digital banking, usage and knowledge of cryptocurrencies and reasons for not using cryptocurrencies.
Key points included
- Majority want 24/7 access to humans
- Apart from mobile banking and money transfer, usage is low
- Lack of awareness is the main purchase deterrent for cryptocurrencies
- Younger Canadians are much more likely to prefer managing their financial life digitally
Expert analysis from a specialist in the field
Written by Sanjay Sharma, a leading analyst in the Financial Services sector, his extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
Comfort with financial digital tools is broadly a tale of young and old, with the former more at ease with them and the latter preferring humans. Even in the digital age, the majority of
Canadians (60%) want anytime access
to a live person to resolve any issues
Senior Financial Services Analyst
What you get
This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
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Mintel's proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
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Market reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
* This is a sample representation of the report layout and does not reflect the research included in this report.
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