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Rapid Adoption of Mobile Banking in Canada Elevating Retail Banking: Ken Research

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Banking in Canada is hugely acknowledged as one of the safest banking systems across the world, ranking as the planet’s soundest banking system for the last six years according to reports by the World Economic Forum. – PowerPoint PPT presentation

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Title: Rapid Adoption of Mobile Banking in Canada Elevating Retail Banking: Ken Research


1
Rapid Adoption of Mobile Banking in Canada
Elevating Retail Banking Ken Research
2
  • Mobile is now the preferred channel for routine
    transactions for around a tenth of consumers, and
    this proportion will rise as older consumers
    adopt mobile banking in greater numbers
  • Branch location is of greatest importance to
    post-families over half of younger consumers
    also cited this as a factor.
  • Although branches are being used progressively
    but less for transactional activities and remain
    vital for sales-led activities.

3
  • Ken research declared its recent production on
    Retail Banking Country Snapshot Canada 2016
    which offers insight on retail banking sector in
    Canada, which is highly concentrated upon the
    current account, savings, mortgage, and personal
    loans markets which includes both market-level
    data and information from global retail banking
    insight survey. Furthermore, the report offers an
    in-depth analysis of consumer approach towards
    the financial sector and how it has evolved over
    a period of time including who are dominating the
    market and what factors persuaded them to make
    such decisions. Likewise it includes the shrewd
    investigation of the extent of consumers using
    internet and mobile channels to do their research
    on financial products. This report will help you
    learn the impacts which new incumbent and
    distribution channels will have on the market.
  • Canada possess the 10th or 15th-largest economy
    across the globe, and is one of the world's
    wealthiest nations, moreover, it is a member of
    the Organization for Economic Co-operation and
    Development and Group of Seven. 85.8 of the
    population in the nation uses internet.

4
The Canadian economy is dominated by the service
industry, which employs about three quarters
of Canadians. Canada is a global leader in the
production of many natural resources, for example
gold, nickel, uranium, diamonds, lead, and lately
crude petroleum, which, with the world's
second-largest oil reserves, is taking an
expanding prominent position in natural resources
extraction. Several of Canada's largest companies
are based in natural resource industries, such
as EnCana, Cameco, Goldcorp, and Barrick
Gold. Banking in Canada is hugely acknowledged
as one of the safest banking systems across the
world, ranking as the planets soundest banking
system for the last six years according to
reports by the World Economic Forum. Global
finance magazine in October, 2010 had put Royal
Bank of Canada at number 10 among the world's
safest banks and Toronto-Dominion Bank at number
15.
5
Opting for providers on the basis of reputation,
branch presence, and pricing were observed widely
by the people of Canada, conservative preferences
were not only observed in the post-family
consumers but by the pre- and younger families as
well. Mobile is the newest banking channel and
has yet to reach maturity, its still a long way
to go as around 80 of post-family consumers have
never used the channel, although branches are
being used progressively but less for
transactional activities, they remain vital for
sales-led activities. To know more on the
coverage, tap on the link underneath https//www
.kenresearch.com/banking-financial-services-and-in
surance/financial-services/retail-banking-country-
snapshot-canada-2016/58928-93.html
6
Related Reports https//www.kenresearch.com/banki
ng-financial-services-and-insurance/banking/retail
-banking-country-snapshot-norway/62460-93.html ht
tps//www.kenresearch.com/banking-financial-servic
es-and-insurance/banking/retail-banking-country-sn
apshot-us-2016/62130-93.html Contact Ken
Research  Ankur Gupta, Head Marketing
Communications query_at_kenresearch.com 91-124-42302
04
7
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