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Hi, I'm William. I'm the Director, Online Banking & Engagement at Vancity, Canada's largest credit union.

My opinions and views are just that, and don't reflect the views of my employer (or, perhaps, anyone else).

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Canada leads the world in use of Online Banking.

Canada Leads World in Online Banking Usage

Well, it's always nice to be number one (well, maybe not).

Yesterday comScore released their study which shows that "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."

It also shows...

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. Among those banks in the top 10, Bank of Montreal Sites experienced the greatest increase in visitation during the past year, growing 22 percent.

I wonder if my friends at BMO are surprised by this.

The study also showed that the heaviest users of online banking are 45-54 year olds. At first this may seem surprising, but in fact, they are also likely the heaviest bankers: "The segment shows both high penetration (73 percent) and the heaviest frequency in usage (12 visits and 157 pages per visitor per month)."

So can we just admit that online banking is just banking. If your financial institution still talks a lot about online but still has its heart firmly in the branch, here's some ammunition to change the conversation.

Read the press release here.

Labels: banking, credit union, web

posted on Friday, July 11, 2008

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2 comments
Of all the things that Canada and Canadians have to be proud of, I'm surprised you'd single out "online banking adoption."
comment from Ron Shevlin on July 16, 2008

It was a slow news day...
comment from

wazaroff on July 16, 2008

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