TORONTO, ONTARIO — (Marketwired) — 09/17/13 — According to the BMO Mobile Banking Survey released today, the majority of mobile owners in Canada take advantage of financial apps with two-thirds (69 per cent) of respondents saying they began using them within the past year.
The survey, conducted by Pollara, revealed:
While the most popular methods of banking remain in-person or at an ATM (95 per cent), mobile banking, including banking apps, is quickly gaining in popularity.
“The adoption rate among our customers of mobile banking has outpaced even that of online banking, showing the growing appetite for this type of technology for everyday banking needs,” said Dan Dickinson, Managing Director, Mobile and Online Banking, BMO Bank of Montreal. “Mobile banking and financial apps provide Canadians with a number of benefits and features that make it easier and less time-consuming to manage finances on the go.”
While mobile banking apps have surged in popularity, concerns about privacy and security among all age groups represent the number one reason why some Canadians are avoiding using the technology.
“We know that customers are looking for convenience and security over anything else when it comes to their everyday banking,” added Mr. Dickinson. “Our online and mobile banking solutions are 100 per cent guaranteed to protect our customers against unauthorized transactions. However, it-s also important that customers do their part – both for online banking and other online transactions – to minimize fraud and protect their information.”
Mr. Dickinson added that there are a few simple ways Canadians can protect their information, including choosing strong passwords and changing them on a regular basis, and never writing down passwords or PINs.
For more information or to download the BMO Mobile Banking App, please visit .
The Pollara online survey was completed between August 15 and August 20, with a sample of 1,000 Canadians. A probability sample of this size would yield results accurate to +/- 3.1 per cent, 19 times out of 20.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $549 billion as at July 31, 2013, and more than 46,000 employees, BMO Financial Group provides a broad range of personal and commercial banking, wealth management and investment banking products and solutions.
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