Canadian Retail Banking Survey 2013
Protecting the future
Canadian banks are not immune to continued global economic uncertainty. Intense margin pressure, slow balance sheet growth, an uncertain economic outlook and a highly competitive market are forcing banks to focus on their most important asset — their customers.
In this environment, understanding customer behaviour, attitudes and requirements are key contributors to deliver improved share of wallet and profitability.
In our first Canadian survey of retail banking customers, which follows on our 2012 global banking customer survey, we explored the views of over 2,400 Canadian banking and credit union customers.
Our survey looked to provide insight on the following topics:
- How satisfied are customers with their primary banking relationship?
- How likely are customers to switch from their primary bank — and if so, why?
- What are customers’ channel preferences?
- What are the drivers of customer satisfaction?
- How can Canadian financial institutions enhance customer loyalty and build customer advocacy?
We hope you will find this report insightful and a helpful support for your customer-focused strategies and welcome the opportunity to discuss our findings in more detail. Please do not hesitate to contact your EY advisor.
In our first Canadian survey of retail banking customers, we explore the top three areas Canadian financial institutions should focus on to improve their customers' experience.