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MARCH 2018 ISSUE

CANADIAN BANKER w www.rfigroup.com t twitter.com/RFiMediaGRB

CEO, Toronto Financial Services Alliance

Jennifer Reynolds RFi GROUP INSIGHT

SAVINGS & BORROWING

SME & COMMERCIAL

04 Meeting the evolving banking needs of Canada’s small businesses

15 Less people able to get a mortgage from a big bank

21 New small business credit cards from BMO


Welcome to the March edition of the Canadian Banker, a newsletter designed to give you an update on news and trends within the Canadian retail and commercial banking market, contextualized by RFi Group data. Ahead of the Canadian SME Banking Forum on 22nd March, this edition focuses on the needs of this very complex, but very important, set of customers. Firstly, our thought leader of the month is Jennifer Reynolds, CEO, Toronto Financial Services Alliance, who discusses the position of Toronto as a global FinTech leader, and how technological innovation is integral to the continuation of growth for SMEs, and therefore the economy. Our insight piece critically evaluates the opportunities

around digital in servicing SMEs, their appetite for future products and services, and essentially, what financial institutions need to be doing to better serve their needs. If you are interested in joining us at the Canadian SME Banking Forum, please visit the website, or get in touch with one of our team. I hope you enjoy this issue!

Kind regards,

Cyrielle Chiron +1 416 644 8524 cchiron@rfigroup.com


CONTENTS MARCH 2018

04 RFi GROUP INSIGHT Meeting the evolving banking needs of Canada’s small businesses

08 RFi GROUP INTERVIEW Jennifer Reynolds, CEO, Toronto Financial Services Alliance

12

15

ECONOMY & REGULATION

SAVINGS & BORROWING

First Nations plan pipeline to Alaska to escape tanker ban

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Less people able to get a mortgage from a big bank

21 SME & COMMERCIAL New small business credit cards from BMO


RFi GROUP INSIGHT

MEETING THE EVOLVING BANKING NEEDS OF CANADA’S SMALL BUSINESSES WORDS MARK SCHULTZ

T

raditionally, small business has been a bit of a problem child for the banking sector. These businesses were too small to allow for serious account management, too risky to reliably offer financing, and not profitable enough to warrant much attention from the banking sector. While efforts were made to address the needs of small businesses, such as the government-backed Canadian Small Business Financing Loan program, those small business enterprises (SMEs) that were able to access funding were met with high costs and long disbursement times, and the wider needs of SMEs generally went unmet. However, over recent years, banks have started to look at the small business sector with renewed interest. In part, this has been driven by the wave of new entrants focused on addressing the needs of SMEs, and nowhere is this more evident than in the lending space. Whereas 10 years ago, SMEs were limited in their funding options, today there are a multitude of alternative lenders that can provide funding to businesses in days rather than weeks, at rates far lower than those previously available. Not only are the terms of the loans better for small businesses, but it is now easier than ever for SMEs to qualify for this lending based on innovation in risk assessment techniques, and SMEs can apply digitally end-to-end instead of being forced to apply in person.

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RFi GROUP INSIGHT

However, over recent years, banks have started to look at the small business sector with renewed interest. In part, this has been driven by the wave of new entrants focused on addressing the needs of SMEs, and nowhere is this more evident than in the lending space.

CANADIAN BANKER 05


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RFi GROUP INSIGHT

While small business lending has seen considerable disruption, the impact on other areas of SME banking appears to be taking another route. The rise of Fintechs means that there are now innovative startups focused on improving all areas of managing and operating a small business. However, rather than positioning themselves as alternatives to existing financial institutions (FIs) as we saw in the lending space, many Fintechs are collaborating with existing FIs to improve their small business offering. For example, RBC has collaborated with Wave to provide SMEs with accounting and invoicing tools through RBCs online business banking portal. These partnerships extend beyond traditional FIs as well; Paypal has partnered with Canada Post to provide a streamlined distribution process aimed at small merchants. From the perspective of small businesses in Canada, there is considerable appetite for new technology and improved features and functionality. Data from RFi Group’s H2 2017 Canada SME Digital Banking Council suggests that 59% of Canadian small businesses prefer to adopt technology while it is still new, with almost a third preferring to be among the first to adopt new technology. These small businesses are also highly interested in the integration that we are seeing occurring in the market at the moment; 63% of small businesses would like to see integration between business banking platforms and other business information software, particularly in the areas of cash management, accounting, invoicing and analytics.

OVERALL, HOW COMFORTABLE ARE YOU WITH GIVING YOUR MAIN BUSINESS BANK ACCESS TO YOUR ACCOUNTING INFORMATION?

From the perspective of small businesses in Canada, there is considerable appetite for new technology and improved features and functionality.

Very comfortable (8-10) Comfortable (8-10) Uncomfortable (0-5)

38%

39%

Integration will be a hot topic at RFi Group’s 2nd annual SME Banking Forum, which is taking place in Toronto on March 22nd. We will get to hear first-hand about Wave’s success from their Co-founder & CEO, Kirk Simpson, as well as other fascinating insights into the future of Canada’s small business banking landscape. Perhaps most importantly, an undoubtedly riveting roundtable discussion hosted by none other than your humble author! It promises to be an insightful day, and I look forward to seeing many of you there.

23%

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RFi GROUP INTERVIEW

“We are on the cusp of some significant growth in Canada and in Toronto.

INTERVIEW WITH

Jennifer Reynolds CEO, Toronto Financial Services Alliance

WORDS SARAH HOLLINSHEAD

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RFi GROUP INTERVIEW

T

oronto is increasingly being viewed as a global FinTech leader, and one of the organisations behind the facilitation of this growth is the Toronto Financial Services Alliance (TFSA). RFi Group’s Sarah Hollinshead sat down with newly appointed CEO, Jennifer Reynolds to discuss her experience thus far at such a unique organisation, which collaborates between three levels of government (federal, provincial, city), financial services and academia, all in the aim to generate growth in the Canadian economy and drive innovation in Toronto. Reynolds has an impressive career, with experience in capital markets and investment banking, before leading the non-profit advocacy organisation, Women in Capital Markets. From years in very male-dominated environments, Reynolds went on to grow this grassroots organisation into one of the largest activist groups for women in leadership, not just in financial services. Still carrying the torch for women, Reynolds joined the TFSA last summer, equipped with experiences of both entrepreneurship, and an extensive knowledge of the financial services. The key message to be told is just how innovative the Canadian financial sector has become, and the huge potential for growth moving forward, with Toronto very much at the heart of this. “Not only is Toronto the second largest financial centre in North America, it is also the second largest tech cluster in North America. Therefore, we have a tremendous pool of talent in financial services and in tech, and that is pretty unique globally.” Although not coming off the same base as the likes of Silicon Valley, NYC or London in terms of dollar value investment, Toronto is arguably one of the fastest growing FinTech hubs in the world right now, accelerating significantly over the last 5 years. Reynolds explains that this is only going to increase, “We are on the cusp of some significant growth in Canada and

in Toronto, specifically around fintech innovation.”

We are on the cusp of some significant growth in Canada and in Toronto, specifically around fintech innovation. The significant shift in the eco-system is apparent in Toronto and Reynolds believes this is a significant factor contributing to the development of Toronto as a FinTech centre of innovation. “Importantly, every single bank here in Canada is developing partnerships with accelerators and FinTech organisations, to try and figure out how to work together to drive innovation in the sector. Either through absorption of their culture and knowledge, or through actual partnerships on projects.” Another key shift Reynolds highlights is regulation. Although Canada has always benefitted from a very stable regulatory framework, figuring out how to maintain this, whilst enabling further innovation, is the next challenge for regulators to ensure Canada keeps up to speed with the global pace of change. “Regulation is critical… we are thinking about what changes to the system will enable more competitiveness, and aid both big incumbents and smaller FinTech start-ups. Regulation at times has been written before it could contemplate the evolution of where we are today, the types of businesses and services that exist, and we want to ensure that lag doesn’t hinder competition and growth moving forward.” Wider access to new technologies is also triggering that growth in Canada, as the second largest hub for Tech in North America. When considering artificial intelligence, which is often cited as

having the most potential for change and potential for job-loss, Reynolds has a much more positive outlook. “We do a lot of work around talent and what skills are going to be needed in the financial sector in 5 years’ time, or even 10 years’ time. How is AI going to change the landscape of what those jobs looks like? The question is how do you harness that for good positive change? Not just for profitability and cost-cutting, but for growth in the wider economy.” Leveraging technology can have an exponential impact on the SME sector, Reynolds believes. “In our lives, there is so much more information available today, so much more education available at people’s fingertips. This is a huge opportunity for SMEs, providing more options for operating and financing their businessesRelative to large organisations, the opportunity for SME’sto leverage these resources is considerable.”

In our lives, there is so much more information available today, so much more education available at people’s fingertips. This is a huge opportunity for SMEs, providing more options for operating and financing their businessesRelative to large organisations, the opportunity for SME’sto leverage these resources is considerable. Whether it is banks or FinTechs who need to offer these services is still open for debate. Reynolds believes the polarity of the argument is unrealistic. “There is sometimes some doom and

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RFi GROUP INTERVIEW

gloom around who is going to win, FinTechs or banks. I don’t think that is the right question. The question should be, how are both of these groups going to drive the future of financial services, because they both will.”

The question should be, how are both of these groups going to drive the future of financial services, because they both will.” With evolving changes to regulation, technology, and the wider eco-system, the global financial services sector is changing at a rate we have never seen before. Toronto, and Canada at large, seems to be a significant player in this evolution, and the TFSA are keen to ensure it stays that way.

If you would like to keep up to date with the latest interviews and news at RFi Group, follow @RFiMediaGRB on Twitter.

Jennifer Reynolds CEO, Toronto Financial Services Alliance

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CANADIAN BANKER 11


ECONOMY & REGULATION

Economy and Regulation

First Nations plan pipeline to Alaska to escape tanker ban WORDS ORIN MARKLE

I

n response to the potential moratorium on B.C. oil tankers, a group of more than 30 First Nation bands have issued a back-up plan for their C$17 billion pipeline. Project chairman and president Calvin Helin said in an interview that Eagle Spirit Energy Holdings has signed an agreement with a landowner in Hyder Alaska to be the potential endpoint of their Alberta to B.C. pipeline, with Helin believing “It’s a complete answer to the tanker ban”. Helin is a member of the Lax Kw’alaams band near the border of the proposed site and believes Alaska would welcome upwards of C$1.5 billion in investment. Eagle Spirit Energy believe the ban to be a result of American-financed environmental groups and has been pushed through without proper consultation, despite the 75 engagement sessions held by Transport Canada.

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Eagle Spirit Energy believe the ban to be a result of American-financed environmental groups and has been pushed through without proper consultation, despite the 75 engagement sessions held by Transport Canada.


ECONOMY & REGULATION

Battle of the exports: B.C. vs Alberta WORDS ORIN MARKLE Alberta has made two retaliatory moves since the B.C. government began discussions on limiting bitumen exports, which could slow down or even prevent the expansion of the Trans Mountain Pipeline project. Alberta initially ended negotiations involving the purchase of B.C. power, and most recently introduced a ban on B.C. wine. While B.C. only exports C$70 million worth of wine to Alberta, this ban directly effects Kelowna West, which was facing an imminent by-election. Albertan premier Rachel Notley said “I know a lot of Albertans who love B.C. wine… Just like I know a lot of British Columbians who love to drive their cars, fly in planes, and heat their homes using Alberta energy products.” University of Calgary economist Trevor Tombe believes this action will get a lot of attention given the by-election and is a move that will “punch above its weight”. RFi Group data gathered in H2 2017 showed Albertan small businesses felt impact of regulatory and legislative change would worsen over the next 12 months, while small businesses in B.C. felt they would slightly improve.

PLEASE INDICATE WHETHER THE BUSINESS EXPECTS THESE CHALLENGES TO WORSEN OR IMPROVE OVER THE NEXT 12 MONTHS Alberta

British Columbia

40% 30%

34%

20% 10%

13% 7% 1%

0% -4%

-10%

-11%

-20% -30% -40% Sales

Access to funding

Impact of regulatory and legislative change

Source: H2 2017 Canada SME Banking Council

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ECONOMY & REGULATION

“Still optimistic that trade in 2018 will be positive.” Ross Prusakowski, Senior Economist at Export Development Canada

Larger than expected December trade deficit WORDS ORIN MARKLE

According to Statistics Canada, the country’s trade deficit grew to C$3.2 billion in December, $1 billion greater than economists’ predictions and C$500 million higher than November.

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According to Statistics Canada, the country’s trade deficit grew to C$3.2 billion in December, $1 billion greater than economists’ predictions and C$500 million higher than November. This represents the 11th consecutive deficit and the 7th largest in Canadian history. The deficit was primarily driven by a 16.9% jump in energy imports equating to an overall 1.5% increase in imports. Total exports also increased by 0.6%, helped by a 6.2% increase in exporting energy products, but was unable to keep pace, citing pipeline disruptions. The 2017 deficit is the second highest trade deficit Canada has encountered at C$24 billion, after reaching C$25.87 billion in 2016, but Ross Prusakowski, Senior Economist at Export Development Canada, is “still optimistic that trade in 2018 will be positive.”


SAVINGS & BORROWING

Savings & Borrowing WORDS ORIN MARKLE

Less people able to get a mortgage from a big bank

S

tricter borrower stress tests for uninsured borrowers implemented by the Office of the Superintendent of Financial Institutions (OSFI) has resulted in a 20% spike in rejection rates by the big banks. As a result, more borrowers are turning to alternative lenders and credit unions, which are enjoying an increase in business. According to Carmen Campagnaro, President of Pro Funds Mortgages, customers are turning to lenders that are subject to provincial, not federal, regulation – including private lenders and credit unions. Hali Noble of Fisgard Asset Management Corporation said they’ve had an increase of “better quality business”, and “a lot of these people should be bankable”. However, this sentiment isn’t shared by every lender in the market; Desjardins has voluntarily implemented OFSI’s rules, and Vancity Credit union are now using their own stress testing.

As a result, more borrowers are turning to alternative lenders and credit unions, which are enjoying an increase in business.

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SAVINGS & BORROWING

CMHC study: where is the housing supply? In a new study titled Examining Escalating House Prices in Large Canadian Metropolitan Centres, the Canada Mortgage and Housing Corporation (CMHC) found that population growth and a strong economy helped house prices grow in Canada between 2010-2016. However, the supply response to rising prices in Toronto and Vancouver, “has been significantly weaker than in other Canadian metropolitan areas”, said CMHCs CEO Evan Siddall. This trend may have reached its end; according to the Toronto Real- Estate Board, home prices in Toronto were 4.1% lower in January 2018 year-on-year. This 4.1% reduction was driven by a 9.1% decrease in detached homes, which was partially offset by a 14.6% increase in condo prices. According to Toronto realtor Scott Ingram, “it isn’t as bad as it could’ve been”, and “it’ll be (a) mixed bag for the foreseeable future.” With the stricter stress testing implemented by the OSFI and rising interest rates, 2018 may prove a turbulent time for Canada’s housing market.

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This trend may have reached its end; according to the Toronto Real- Estate Board, home prices in Toronto were 4.1% lower in January 2018 year-on-year.


SAVINGS & BORROWING

Millennials not saving? According to RBC’s annual independence in retirement poll, young Canadians have similar goals to prior generations, but struggle to finance them. Among Millennials aged 25-34, RBC found 48% wanted to own a home as a top financial priority, but only 28% were saving towards this goal. RBCs senior director of digital strategy, Richa Hingorani, said “TFSAs offer a great savings vehicle, but Millennials can’t overlook RRSPs, particularly as they move into their 30s”. RBC found when Millennials were asked to choose between RRSPs and TFSAs, 48% of this demographic preferred TFSAs compared to only 30% for RRSPs, a finding reflected in RFi gGroup’s H2 2017 Prioroty and Retail Banking Council study, which found that 50% of customers aged 25-34 held a TFSA, compared to 35% for RRSPs.

WHICH FINANCIAL PRODUCTS DO YOU CURRENTLY HOLD IN CANADA? Customers aged 25-34

50%

50%

40%

35%

30% 20% 10% 0% TFSA

RRSP

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PAYMENTS & TECHNOLOGY

Payments & Technology WORDS JONATHAN RUSTON

Servus Credit Union to launch integrated online account opening

S

ervus Credit Union has announced a collaboration with Albertan FinTech company thirdstream to launch fully integrated online membership and account opening. As a result, consumers across the province will be able to join Servus Credit Union or open a new account completely online. The digital membership platform will be powered by a cumulus, a paperless interface that also incorporates e-signatures and account funding via Online Money Transfers. The digital membership and account opening service is one of many future new initiatives by the credit union to support Albertan consumers in achieving their financial goals online. Gail Stepanik-Keber, Chief Brand, Digital Banking and Corporate Social Responsibility Officer for Servus Credit Union commented: “We know we need to keep moving our digital capabilities forward to best service our members. Thirdstream’s platform will be a significant part of our strategy to deliver innovative experiences that will help our new and existing members feel good about their money and all the ways they interact with it at Servus”.

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“We know we need to keep moving our digital capabilities forward to best service our members. Thirdstream’s platform will be a significant part of our strategy to deliver innovative experiences that will help our new and existing members feel good about their money and all the ways they interact with it at Servus”. Gail Stepanik-Keber, Chief Brand, Digital Banking and Corporate Social Responsibility Officer for Servus Credit Union


PAYMENTS & TECHNOLOGY

Paytm Canada Partners with Payment Source Paytm Canada, subsidiary of Indian mobile payment provider Paytm, has partnered with Payment Source, an alternative payments provider, to enable Canadian consumers to top up their Paytm app with cash to pay bills. Paytm, which entered the Canadian market in 2017, enables in-app bill payments to be made to more than 5,000 available billers direct from a smartphone, whilst earning cashback and rewards. Now, by using Payment Source’s in-person payment network, consumers can directly deposit cash into their Paytm account at any of Canada Post’s 6,000 locations across the country. As a result, consumers can now pay direct from a bank account, via debit card, and cash without incurring transaction fees. According to RFi Group data, 86% of Canadians pay bills in-person or over the counter, with credit and debit cards being the most preferred ways to make these payments. Opening up the opportunity to deposit funds into Paytm accounts in-person may allow Paytm to appeal to a larger audience and allow new customers to earn cashback and rewards on their bill payments.

ASSUMING THAT YOU HAVE ALL OF THE FOLLOWING OPTIONS AVAILABLE FOR YOU, PLEASE SELECT THE METHOD YOU MOST PREFER FOR PAYING FOR THE FOLLOWING PAYMENTS MADE IN PERSON/OVER THE COUNTER Bill payments 80% 60% 40% 32% 24%

20%

7%

6%

Cash

Cheque

0% Credit card

Debit card

2%

Digital/mobile wallet

Source: Canada Payments Council H2 2017

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PAYMENTS & TECHNOLOGY

TD Canada Trust buys AI tech group to improve customer experience TD Canada Trust has purchased Canadian AI firm, Layer 6. The Toronto-based start-up, founded in 2016, focuses on using its prediction engine to anticipate the needs of customers in real time. While Layer 6 will continue to operate as a separate entity out of its existing office, TD will become its sole client. TD hopes that this acquisition can help them to better understand their customers. According to Michael Rhodes, TD Group Head Innovation, Technology and Shared Services; “what we hope to gather from AI is the ability to kind of know and understand our customers, in the same way that store managers knew back in the 1970s.” This is a sentiment echoed by Rizwan Khalfan, TD Executive Vice President and Chief Digital and Payments Officer, who indicated that the acquisition would help TD to better leverage its existing data, provide more personal customer experiences, and automate processes. According to Khalfan, “for us to be able to partner with organizations like Layer 6 who are considered both best-in-class from a research and a pragmatic perspective, is really the secret sauce.”

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What we hope to gather from AI is the ability to kind of know and understand our customers, in the same way that store managers knew back in the 1970s. Michael Rhodes, Group Head Innovation, Technology and Shared Services, TD


SME & COMMERCIAL

SME & Commercial

For example, the new BMO Rewards Business Mastercard provides 3 BMO points for every C$1 spent on these categories while providing 1.5 points on other purchases.

New small business credit cards from BMO WHAT PRODUCT FEATURES WOULD MOST ENCOURAGE THE BUSINESS TO USE A BUSINESS CREDIT/CHARGE CARD FOR MORE OF THE EXPENSES? Top 3

WORDS ORIN MARKLE

B

MO Group Head of Small Business Solutions and Governance, North American Retail Payments and Canadian Personal and Business Banking, Adrian Lang, said BMO believes “this new lineup of small business credit cards truly raises the bar with industry leading options”. BMO designed the new cards to give better rewards for gas, office supplies, cell phone plans, and internet billing as they see these categories being the most attractive for small businesses. For example, the new BMO Rewards Business Mastercard provides 3 BMO points for every C$1 spent on these categories while providing 1.5 points on other purchases. Data from RFi Group’s H2 2017 Canada SME Banking and Payments Council study suggests that better rewards would be the strongest driver for SME cardholders to increase spending on their cards, and tailoring rewards benefits to categories most applicable to SMEs may help BMO to win share among small business customers.

25% 22%

20%

18%

18%

15% 10% 5% 0% Better rewards

Higher credit limit

Lowest interest rate

Source: H2 2017 Canada SME Banking Council

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SME & COMMERCIAL

BDC to Invest $700 million in Clean Tech WORDS ORIN MARKLE The government of Canada will be investing C$700 million in clean technology over the next 5 years through the Business Development Bank of Canada (BDC). The BDC will now be able to fund riskier investments to help these potentially world-changing firms. The Minister of Natural Resources, Jim Carr, said this announcement demonstrates the Liberal governments “commitment to create well-paying middle-class jobs while growing the economy and protecting the environment�. With financing from the BDC fund, and an increased tolerance for risk, these firms will be able to afford staff, to develop products, support sales, and reach sustainable scalability.

Commitment to create well-paying middle-class jobs while growing the economy and protecting the environment. Jim Carr, Minister of Natural Resources, Canada

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T H E C A N A D A S M E D I G I TA L B A N K I N G CO U N C I L THE CANADA SME DIGITAL BANKING COUNCIL PROVIDES DEEP INSIGHT INTO THE FASTMOVING SPACE OF DIGITAL TECHNOLOGY USE, INNOVATION AND ADOPTION WITHIN THE SME SEGMENT. KEY FOCUS AREAS ARE DEVICE OWNERSHIP AND USE, BUSINESS MOBILE BANKING AND PAYMENTS AND CHANNEL PREFERENCES. THE CANADA SME DIGITAL BANKING COUNCIL UNCOVERS INSIGHTS SPECIFIC TO PRODUCTS, ACROSS PRODUCTS AND CUSTOMER RELATIONSHIPS THROUGH THE LENS OF DIGITAL CHANNELS

KEY INSIGHTS FOR FINANCIAL SERVICES ORGANISATIONS IN CANADA INCLUDE:

CHANNEL USAGE AND PREFERENCES

Banking channels used, satisfaction with channels, preferred banking channels

BARRIERS TO DIGITAL

Reasons for not banking via online or mobile, appeal of new technologies, usage and preference towards digital product applications

ONLINE AND MOBILE BANKING

SOFTWARE INTEGRATION

Usage of digital channels for banking tasks, preferred digital functionality, engagement with digital channels

Usage and appeal of integrated software, preferred integrated functionality

For further information, please contact Nish Gnana, Business Development Manager ngnana@rfigroup.com or +1 416 644 5088 CANADIAN BANKER 23


ABOUT RFi GROUP

RFi Group is a global intelligence and digital media provider focusing exclusively on financial services. We specialise in data and information gathering, customer based insight generation and business decision support for the world’s leading financial service providers. Our aim is to combine global intelligence and local knowledge to provide insightful, valuable and actionable recommendations, with a core focus on the provision of exceptional client service. OUR BRANDS

Covering 44 key global markets with regional offices in San Francisco, Toronto, London, Singapore, Hong Kong and Sydney, RFi Group consistently provides clients with tailored advice and independent intelligence relevant to their specific markets and business needs. EXCLUSIVE FOCUS ON BANKING AND FINANCE RFi Group’s expertise and deep understanding of the banking and finance sector delivers high-value outcomes. Our areas of expertise include: Retail Banking Mortgages Transaction Accounts Savings Accounts Consumer Lending Cards and Payments

For any advertisement enquiries, please contact your regional RFi office or email your enquiry to Nish Gnana at : ngnana@rfigroup.com For more information, visit: www.rfigroup.com www.globalretailbanker.com

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ABOUT RFi GROUP

RFi GROUP ACTIVE IN 44 INTERNATIONAL MARKETS

Our markets include Australia, Argentina, Belgium, Brazil, Canada, Chile, China, Colombia, Egypt, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Korea, Kuwait, Lebanon, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Peru, Philippines, Poland, Qatar, Saudi Arabia, Singapore, South Africa, Spain, Sri Lanka, Switzerland, Taiwan, Thailand, Turkey, UAE, UK, Uruguay, USA and Vietnam.

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RFi Group’s syndicated research RFi Group is a global intelligence and media provider focused exclusively on financial services. We specialize in data and information gathering, customer based insight generation and business decision support for the world’s leading financial service providers. Our syndicated research is delivered via our Financial Councils model. Upcoming North American Financial Council research includes:

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Canada SME Banking Council – 2017 H2 Canada Payments Council – 2017 H2 Canada Commercial Banking Council – 2017 H2

Canada SME Digital Banking Council – 2018 H1 Canada Digital Banking Council – 2018 H1 Canada Insurance Council – 2018 H1

Find out how you can access RFi Group’s latest business intelligence! For further information, contact Jaime Cabrera on jcabrera@rfigroup.com or +1 416 644 8524

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Canadian Banker - March 2018 Edition  

An RFi Group Publication

Canadian Banker - March 2018 Edition  

An RFi Group Publication