Canadian Version Released: COVID Impact on Consumer Financial Services

How did consumers rate Canadian banks' response to COVID-19 related concerns? Learn that and more in our latest report.

COVID-19 and Consumer Financial Services:

Assessing the Impact on Banking, Insurance, and Wealth Management

We're pleased to report that the Canadian version of this popular report is now available for you to download. Findings are based on the results of our July 2020 online survey of household decision-makers in Canada.

The study digs in to better understand how consumers' financial outlook has been impacted by the pandemic, how behaviours have changed, and whether those changes are likely to last. From there, we've identified opportunities for Financial Institutions (FIs) to adjust their interactions and experiences for this new and dynamic environment.

Note that the report is just a topline summary of findings, and we have been able to dig in deeper to create specific reports for specific clients. There are dozens of topics that can be further explored, including:

- Where are consumers spending more and less? Do they foresee these changes to be long-term?

- What changes in shopping habits are underpinning any shifts in payment practices and attitudes?

- How do consumers rate Canadian Banks? What frustrations / pain points are top of mind and which banks responded best to consumers’ COVID-related concerns?

You can access the topline report here.  And as you continue to evolve your post-pandemic strategic plans, please contact us to request a virtual presentation and discussion of a customized version of the full report for you and your organization. 

Written by Stephan Sigaud

Stephan Sigaud, MBA, is Phase 5’s EVP of Marketing. Stephan is passionate about partnering with clients to address their challenges and opportunities around customer centricity. With more than 25 years’ experience in Market Research and Customer Loyalty and Experience, Stephan has been volunteering with both the Customer Experience Professionals Association (as Board member and past Chair of the CXPA Toronto Network) and the Canadian Marketing Association's (as member of the Leaders Network and past co-Chair of the CMA CX Council).