Tablet Banking in Canada
An Evaluation of Tablet Banking at Top Canadian Financial Institutions
Tablets are being used by an increasing number of consumers and have become critical access points. Across the digital spectrum of devices — mobile, online, and tablet — there are some clear differences in use. Banks with a dedicated digital channels strategy are starting to design around the device itself, incorporating specific features in functionality relative to the device and use case rather than port from online banking or an existing mobile app.
Tablet Banking in Canada: An Evaluation of Tablet Banking at Top Canadian Financial Institutions is the second in a series on the state of tablet applications at the top financial institutions in Canada. This report should be read as a companion piece to the Celent report published in November 2013, Tablet Banking in Canada: An Evaluation of Tablet Banking at Top Canadian Banks. Celent’s evaluation will continue to use a modified version of the ABCD Vendor View framework, taking into account Breadth of functionality and Depth of service.
Last year, Celent published a report evaluating the tablet app offerings at the top 8 financial institutions in Canada. In the previous evaluation, only five of the top eight had dedicated iOS tablet applications, while only two had Android apps. Since our last report was published, one institution has added an iOS app, while three have added android apps.
“One of the biggest differentiating factors of any institution in the years ahead will be the ability to adapt to the changes in consumer behavior,” says Jacob Jegher, research director of Celent’s Banking practice and author of the report. “Consumption trends and preferences will define a bank’s ability to attract and engage the customer.”
“Tablet apps for Canadian financial institutions still have a long way to go, and substantial opportunity exists to maximize channel engagement,” says Stephen Greer, an analyst with Celent’s Banking practice and author of the report. “The market has moved quite slowly since Celent´s last report.”