In 2021, the number of new smartphone banking users in Canada will plummet to a third of the previous year’s level, considerably increasing competition among financial institutions (FIs), including Banque Nationale. As the battle for new mobile users heats up, FIs’ mobile banking app features will be crucial. This report identifies which key growth opportunities Banque Nationale might focus on to gain and retain customers.
This inaugural study, weighted based on responses to a consumer survey, ranks the seven largest Canadian financial institutions by assets according to their mobile banking capabilities. It presents detailed benchmarking data on the availability of 42 mobile features, selected by analysts based on their propensity to set FIs apart.
The issuer also recently announced a card with Air Canada coming later this year that will feature travel rewards as well. These cards should help Chase take advantage of pent-up travel demand as consumers signal interest in vacationing again. And its acquisition of cxLoyalty’s travel platform will help it maximize growth opportunities in the coming months.