Canada Leads World In Online Banking Usage
Canada is one of the world’s most developed markets for online banking, according to a report released by Internet measuring firm comScore, Inc.
"Canadians are typically very savvy Internet users, a fact that is underscored by their heavy usage of online banking," says Brent Bernie, president of comScore Media Metrix, comScore Canada. "But because the Canadian online banking sector is so developed and competition already so fierce, banks need to closely examine how they are meeting the needs of their consumers online if they are to achieve customer growth and retention through this increasingly important channel."
Of the 37 global markets individually-reported by comScore, Canada ranked number one in adoption of online banking, with 67.1 of Canadian Internet users banking online in April 2008. Other English-speaking countries had significantly lower penetration, including the U.K. (49.5%), U.S. (44.4%), and Australia (41.7%).
Canadians also led the world in online banking frequency, with an average of eight usage days and 10.5 online banking visits per visitor in April.
Canadians spent an average of 46 minutes on banking sites in April, viewing approximately 121 pages per visitor.
Of the nearly 24 million Canadian Internet users, 15.5 million visited a banking site in April. RBC Financial group led the category with 4.6 million visitors, followed by TD Bank Financial Group with 4.5 million visitors and Bank of Montreal sites with 3 million visitors.
"Canadians are typically very savvy Internet users, a fact that is underscored by their heavy usage of online banking," says Brent Bernie, president of comScore Media Metrix, comScore Canada. "But because the Canadian online banking sector is so developed and competition already so fierce, banks need to closely examine how they are meeting the needs of their consumers online if they are to achieve customer growth and retention through this increasingly important channel."
Of the 37 global markets individually-reported by comScore, Canada ranked number one in adoption of online banking, with 67.1 of Canadian Internet users banking online in April 2008. Other English-speaking countries had significantly lower penetration, including the U.K. (49.5%), U.S. (44.4%), and Australia (41.7%).
Canadians also led the world in online banking frequency, with an average of eight usage days and 10.5 online banking visits per visitor in April.
Canadians spent an average of 46 minutes on banking sites in April, viewing approximately 121 pages per visitor.
Of the nearly 24 million Canadian Internet users, 15.5 million visited a banking site in April. RBC Financial group led the category with 4.6 million visitors, followed by TD Bank Financial Group with 4.5 million visitors and Bank of Montreal sites with 3 million visitors.
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