June 28, 2016
Scotiabank poll reveals 'convenience' as top reason Canadians use online, mobile payments, banking
TORONTO---In another sign that Canadians are adopting digital banking channels, a poll commissioned by Scotiabank reveals that the majority (85%) of Canadians are currently using online and mobile banking. What's more, two-thirds (66%) say they use online and mobile banking at least once per week and more than three quarters (79%) who use mobile and online banking say 'convenience' is the top reason for using digital banking tools.
"What we're seeing is a seismic shift in the behaviour of Canadians when it comes to how they bank," said Jeff Marshall, Head of the Digital Factory at Scotiabank. "Mobile banking is the fastest growing channel at Scotiabank. We are committed to building innovative, world-class digital banking solutions that make it easier to do business with us and these are resonating with our customers. We were proud to have been recognized as one of two banks to receive the highest overall score in Forrester Research Inc.'s 2016 Canadian Mobile Banking Functionality Benchmark."
In the poll, Canadians who use digital banking channels also said 'saving time' (62%), 'monitoring my finances' (61%), and 'banking outside of traditional hours' (54%) were among the top reasons for choosing these options.
Other findings in the poll:
> The vast majority of Canadians are using mobile or online banking to check their balance (85%) and pay bills (83%).
> Currently, less than one in five said they use digital platforms for more advanced activities like managing investments (16%), depositing a cheque through a mobile app (12%) or applying for accounts or credit cards (3%).
"Scotiabank provides safe, efficient tools for customers to perform their everyday banking on online and mobile channels whenever and wherever they want, and we look forward to continuing to add more customers to these convenient platforms," added Marshall.
The poll was conducted by MARU/VCR&C on behalf of Scotiabank. A total of 1,503 online interviews were conducted nationally with Canadians 18+. The research study was conducted from June 15 to 16, 2016.