A new report is out today from KPMG called Consumers & Convergence IV. It goes into detail of how we are integrating the internet and mobile technology into our every day activities. This was an international survey of 5,000 people in 22 countries, Canada’s had a total of 300 that were included in the survey.
Here’s what KPMG found when it came to Canadian doing mobile banking, security and privacy.
- 63% are “very concerned” about privacy (globally it’s 67%)
- 58% are “very concerned” about security (globally it’s 59%)
- 19% feel comfortable using their mobile phone for financial transactions (globally it’s 34%)
- 15% have done banking through a mobile device (globally it’s 45%)
- 8% have made purchases using a mobile phone through a website (up 50% from last year but globally it’s 28%)
Many banking institutions in Canada have recently come out with their own apps on all major platforms such as BlackBerry, iPhone and Android. Back in April CIBC launched their iPhone app and their app alone found 100,00 downloads in the first month and had over 1 million client logins. Then ING and TD Bank followed with their mobile banking apps. In February, a report showed that only 9% of Canadians are accessing their account to check their balance. Bob Hedges of consulting firm Mercatus said that we Canadians are “at the tipping point in terms of adoption“.
So it looks like mobile banking is on an upswing over the past few months. Do make up this 15% of Canadians who are comfortable with mobile banking?