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Banking on value: Rewards, robo-advice and relevance

Canadian consumers want it all—a banking customer experience that is easy, seamless and relevant.

Our 2016 North America Consumer Digital Banking Survey of over 4,000 consumers in the U.S. and Canada shows consumers are focused on value – seeking everything from deals and discounts to a convenient banking experience that leverages the latest digital technologies. They’re also willing to share personal data to get what they are looking for.

Executive Summary


The survey results provided four key insights on what Canadian consumers want from their banking relationship today and in the future.

Hunting for value is hot

Hunting for value is hot

45 percent of consumers say the top reason that they would stay loyal is if their bank offers discounts on purchases of interest.

Switching is not an obstacle

Consumers are branching out

9 percent of Canadian consumers broadened their banking relationship with a new financial services provider in the past year and joined virtual banks at double-digit levels.

Robo-advice is welcome

Robo-advice is welcome

43 percent of Canadian consumers are willing to bank using automated recommendations in the future.

The branch is alive and well

The branch is alive and well

87 percent of consumers will use their branches in the future – and want human interaction when they go there.

To provide the value consumers are looking for, banks must do things differently.

Win the data game

Banks must refine data collection to preserve customers’ data privacy. Combine digital trust with predictive analytics to deliver value for customers.

Be relentless about service

From business strategy to day-to-day culture, superior customer service must be consistent and continually refined based on customer feedback.

Reinvent loyalty

Leverage digital marketing platforms to capture customers’ implicit and explicit intent so banks can connect in ways that matter.

Explore new roles

Banks can provide more value to customers by becoming a go-to resource for how they live and work, rather than being a pure financial utility.

Master “phygital” experiences

Developing banking channels in isolation from one another is risky. Customers want seamless “phygital” experiences that blend physical and digital.

Key Contacts
Bob Vokes

Bob Vokes

Managing Director, Financial Services – Canada

Mail to Bob Vokes. This opens a new window. Linkedin
James Vogtle

James Vogtle

Managing Director, North American Banking Strategy

Mail to James Vogtle. This opens a new window. Linkedin