Nearly Half of Canadians Now Own a Tablet Device

TORONTO, ONTARIO, Feb. 13 (Korea Bizwire) – According to a BMO Bank of Montreal survey, 43 per cent of Canadians now own a tablet device and many of them are using them to stay organized and conduct daily activities while on the go – including banking and investing.

The report, conducted by Pollara, revealed how tablet users are integrating their mobile tools into their day to day routines:

• The majority of tablet users (81 per cent) are always looking for ways to simplify their lives, with 51 per cent saying they could use help to stay more organized
• Over half of users (55 per cent) have adopted apps to help them stay organized and 60 per cent have apps that help boost their daily efficiency
• Another half (55 per cent) enjoy conducting functions such as shopping, banking or monitoring investments while on the go
• 59 per cent of tablet owners have banking apps on their tablet, with one third (35 per cent) logging onto them daily

“Today, customers expect to have online tools that allow them to manage all aspects of their day-to-day lives, from streamlining their retail shopping to staying on top of their investments while on the go,” said Cesar Rainusso, Vice President & Head of Digital Channels, BMO Financial Group. “We know our customers value access to their finances from mobile devices. In fact, we’ve seen adoption for these tools increase by approximately 60 per cent in the past year alone.”

Youth Movement

Mr. Rainusso added that BMO recently launched the BMO Banking & InvestorLine iPad app which offers customers access to personal banking and self-directed investing services along with a personal finance management tool – the first from a major Canadian bank.

In fact, a previous BMO survey of how Millennials are using mobile apps to manage their finances revealed:

• Six in ten young users (63 per cent) now use mobile banking on a weekly basis to check their account balances and review transactions (56 per cent).
• Since they began using a financial app, nine in ten (88 per cent) say they are managing their finances more effectively and know exactly what is going on with their finances at all times
• 85 per cent have better control over their spending, while three quarters (74 per cent) are overdrawn on their account less often
• 84 per cent are able to make better purchasing decisions while on the go
• Eight in ten (82 per cent) pay their bills on time more often

BMO Banking & InvestorLine is available for free from the App Store on iPad or at AppStore.com/BMOFinancialGroup.

To learn more on how the BMO Banking & InvestorLine app can help you easily manage both your banking and self-directed investing needs, please click here.

The survey results cited in the Tablet Study conducted by Pollara are compiled from a random sample of 1201 Canadians 18 years of age and over between December 5^th and 9^th, 2014. A probability sample of this size would yield results accurate to ± 2.8 per cent, 19 times out of 20. Results have been weighted using the latest census data to be representative of Canadians as a whole.

The Millennial and Mobile Banking survey results are from interviews with an online sample of 1,000 Canadians who own a mobile device (either a Smart Phone or tablet), with 325 of these being in the Millennials age group (under 35). The survey was conducted between April 25th and 28th, 2014. As a guideline, a probability sample of 1000 would yield results accurate to ± 3.1%, 19 times out of 20, while a probability sample of 325 would yield results accurate to ± 5.4%, 19 times out of 20.

About BMO Financial Group

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified financial services organization based in North America. The bank offers a broad range of retail banking, wealth management and investment banking products and services to more than 12 million customers. BMO Financial Group had total assets of $589 billion and more than 46,000 employees at October 31, 2014.

Source: BMO Financial Group (via Marketwired)