Vancouver, BC – Is mobile banking the way of the future? According to
a recent issue of the Ipsos Canadian Inter@ctive Reid Report which investigated online
Canadians' use of web-based financial services, only a small minority of online Canadians are
mobile banking, but this minority is growing.
Slightly more than one-in-ten (12%) online Canadians have conducted banking from their
mobile device in the past 3 months. While still appealing to only a niche group of online
Canadians, this represents a significant growth from 2011 when just 8% online Canadians
used this service.
Overall, the adoption of mobile banking may be limited by the penetration of smartphones in
the Canadian marketplace. Only one-third (36%) of online adults in Canada own a
smartphone, and therefore, would be able to conduct mobile banking. That said, ownership of
smartphones has expanded quickly in the last few years – from 9% in 2008 and 31% in 2011
– which hints that mobile banking may continue to strengthen in the future as more Canadians
become equipped with the technology that will enable them to use this service.
The small minority who conduct mobile banking is contrasted by the popularity of online
banking in general. Specifically, over three-quarters (78%) have conducted any type of online
banking transaction in the past three months. And the prevalence of online banking is still
growing, with no signs of leveling off yet – penetration overall has expanded from 73% in
Catherine Dawson, Senior Vice President comments "This growth in mobile and online
banking may be fueled at least in part by an increasing sense of confidence and security in
online and mobile transactions". This same study found that nearly all online Canadians are
now confident that Canadian financial services industry can ensure the security and privacy of
their information (87%, with 35% very confident and 52% somewhat confident; up from 77%
confident in 2008). This suggests that as Canadians feel more secure, online and mobile
banking will become even more widespread.
This release is based on the findings of an Ipsos Reid syndicated study, The Ipsos
Canadian Inter@ctive Reid Report, fielded April 30 – May 4, 2012 and released in 2012-Issue
2. This online survey of 843 Canadian adults was conducted via the Ipsos Online Panel. The
results are based on a sample where quota sampling and weighting are employed to balance
demographics and ensure that the sample's composition reflects that of the actual Canadian
population according to Census data. Quota samples with weighting from the Ipsos online
panel provide results that are intended to approximate a probability sample. An unweighted
probability sample of this size, with a 100% response rate, would have an estimated margin of
error of +/- 3.4 percentage points, 19 times out of 20.
For more information on the Ipsos Canadian Inter@ctive Reid Report, please visit www.ipsos.ca/reid/interactive
For more information on this news release, please contact:
Senior Vice President
About Ipsos Reid
Ipsos Reid is Canada's market intelligence leader, the country's leading provider of public
opinion research, and research partner for loyalty and forecasting and modelling insights. With
operations in eight cities, Ipsos Reid employs more than 600 research professionals and
support staff in Canada. The company has the biggest network of telephone call centres in the
country, as well as the largest pre-recruited household and online panels. Ipsos Reid's
marketing research and public affairs practices offer the premier suite of research vehicles in
Canada, all of which provide clients with actionable and relevant information. Staffed with
seasoned research consultants with extensive industry-specific backgrounds, Ipsos Reid
offers syndicated information or custom solutions across key sectors of the Canadian
economy, including consumer packaged goods, financial services, automotive, retail, and
technology & telecommunications. Ipsos Reid is an Ipsos company, a leading global survey-
based market research group.
To learn more, please visit www.ipsos.ca.
Ipsos is an independent market research company controlled and managed by research
professionals. Founded in France in 1975, Ipsos has grown into a worldwide research group
with a strong presence in all key markets. In October 2011 Ipsos completed the acquisition of
Synovate. The combination forms the world's third largest market research company.
With offices in 84 countries, Ipsos delivers insightful expertise across six research
specializations: advertising, customer loyalty, marketing, media, public affairs research, and
Ipsos researchers assess market potential and interpret market trends. They develop and
build brands. They help clients build long-term relationships with their customers. They test
advertising and study audience responses to various media and they measure public opinion
around the globe.
Ipsos has been listed on the Paris Stock Exchange since 1999 and generated global
revenues of €1,363 billion (1.897 billion USD) in 2011.
Visit www.ipsos-na.com to
learn more about Ipsos' offerings and capabilities.