Study: Over 50% of Canadian iPhone Users Utilize Mobile Banking

Do you use mobile banking on your iPhone? The 2011 “Mobile Money & Banking Report”, a study from Solutions Research Group based in Toronto found 54% of all iPhone users in Canada use a banking app.

The study found 2.5 million Canadians have widely adopted mobile banking apps on their smartphones, a number that was at zero 14 months ago. The big banks in Canada have quickly jumped on the app bandwagon, and the report found the following banks ranked in popularity as follows: TD Canada Trust, CIBC, RBC, Scotiabank, and BMO.

Why are these banking apps so popular? The number one reason was their ease and convenience, allowing people to bank from anywhere, at anytime.

Do you use a mobile banking app on your iPhone? If so, which one?

[via MarketingMag]

Founder and Editor-in-Chief of iPhoneinCanada.ca. Follow me on Twitter, and @iPhoneinCanada, and on Google+.

  • I would love to use a banking app but there isn’t one for PC Financial yet 🙁

  • I would love to use a banking app but there isn’t one for PC Financial yet 🙁

  • JD

    shouldn’t the CIBC app work…?  

  • JD

    shouldn’t the CIBC app work…?  

  • JD

    shouldn’t the CIBC app work…?  

  • Blah123

    No, for the same reason you can’t log into CIBC’s banking website with a PC card. Go talk to Loblaws! I’ll be right there with you when you do!

  • Blah123

    No, for the same reason you can’t log into CIBC’s banking website with a PC card. Go talk to Loblaws! I’ll be right there with you when you do!

  • Blah123

    No, for the same reason you can’t log into CIBC’s banking website with a PC card. Go talk to Loblaws! I’ll be right there with you when you do!

  • Anonymous

    Well, I’d consider using a mobile banking app if my primary bank’s (BMO) app didn’t suck so badly.  Balances and Tranfer Funds between accounts – that’s it. Barely banking at all – small wonder then that banks are finding they’re needing to open neighbourhood branches again and with longer, more convenient hours…

  • Anonymous

    Well, I’d consider using a mobile banking app if my primary bank’s (BMO) app didn’t suck so badly.  Balances and Tranfer Funds between accounts – that’s it. Barely banking at all – small wonder then that banks are finding they’re needing to open neighbourhood branches again and with longer, more convenient hours…

  • Anonymous

    Well, I’d consider using a mobile banking app if my primary bank’s (BMO) app didn’t suck so badly.  Balances and Tranfer Funds between accounts – that’s it. Barely banking at all – small wonder then that banks are finding they’re needing to open neighbourhood branches again and with longer, more convenient hours…

  • Anonymous

    Well, I’d consider using a mobile banking app if my primary bank’s (BMO) app didn’t suck so badly.  Balances and Tranfer Funds between accounts – that’s it. Barely banking at all – small wonder then that banks are finding they’re needing to open neighbourhood branches again and with longer, more convenient hours…

  • Anonymous

    Well, I’d consider using a mobile banking app if my primary bank’s (BMO) app didn’t suck so badly.  Balances and Tranfer Funds between accounts – that’s it. Barely banking at all – small wonder then that banks are finding they’re needing to open neighbourhood branches again and with longer, more convenient hours…

  • Anonymous

    ING Direct!! The only banking app I need

  • Anonymous

    ING Direct!! The only banking app I need

  • Anonymous

    ING Direct!! The only banking app I need

  • Anonymous

    ING Direct!! The only banking app I need

  • Anonymous

    ING Direct!! The only banking app I need

  • Phoenix_bladen

    exactly ! i use PC and i want this app so badly!

  • Phoenix_bladen

    exactly ! i use PC and i want this app so badly!

  • Chris

    The other 50% use a bank that sadly doesn’t have an app… I guess you get what you pay for with PC….

  • Chris

    The other 50% use a bank that sadly doesn’t have an app… I guess you get what you pay for with PC….

  • Chris

    The other 50% use a bank that sadly doesn’t have an app… I guess you get what you pay for with PC….

  • Dennis Cox

    Sadly, HSBC is not on the list. I have to use Mint since they finally opened their services in Canada

  • Dennis Cox

    Sadly, HSBC is not on the list. I have to use Mint since they finally opened their services in Canada

  • Laserheart

    I’m surprised HSBC doesn’t have an app, considering how large they are around the world.

  • Laserheart

    I’m surprised HSBC doesn’t have an app, considering how large they are around the world.

  • Laserheart

    I’m surprised HSBC doesn’t have an app, considering how large they are around the world.

  • Laserheart

    I’m surprised HSBC doesn’t have an app, considering how large they are around the world.

  • Sunz

    Hopefully someone from PC Fincancial is reading this blog. If so, please go make a PC app.

  • Sunz

    Hopefully someone from PC Fincancial is reading this blog. If so, please go make a PC app.

  • PDS

    I almost switched banks to take advantage of banking on my iPhone. Fortunately, ScotiaBank got their heads out of their ass and came up with a great app that does everything that I can do on my PC.  I haven’t stepped up to a teller since.

  • cwh

    yes, same here.

  • cwh

    yes, same here.

  • cwh

    yes, same here.

  • Kirk

    I use RBC and TD and I love it!