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Users of QUBER, a personal finance app with behavioural insights, save between $100 to $200 per month, on average.
Initiative: QUBER App
Adopter: QUBER
More than 60% of QUBER users took action to save money based on a behavioural nudge in the app.
Initiative: QUBER App
Adopter: QUBER
In Ontario, few consumers who report experiencing issues make a formal complaint. Among those who chose not to complain, many did not believe complaining would make a difference.
Initiative: 2022 Consumer Research Study
Adopter: Financial Services Regulatory Authority of Ontario
In Ontario, 48% of mortgage brokerage users and 59% of health and life insurance users indicated they did not know their rights and protections related to these financial products.
Initiative: 2022 Consumer Research Study
Adopter: Financial Services Regulatory Authority of Ontario
In Ontario, 1 in 10 consumers reported being offered a product with unreasonable terms, suggesting credit history, income/savings, and age were the main reasons for such offers. Credit cards and insurance products were those most commonly identified.
Initiative: 2022 Consumer Research Study
Adopter: Financial Services Regulatory Authority of Ontario
In Ontario, 1 in 3 consumers (33%) reported experiencing an issue with financial service providers; poor customer service was the most common issue reported (16%).
Initiative: 2022 Consumer Research Study
Adopter: Financial Services Regulatory Authority of Ontario
In Ontario, nearly 1 in 6 consumers (15%) reported being refused a financial product or service, with credit history, income, and savings being the most cited reasons for the refusal. Credit products were the financial product most commonly refused.
Initiative: 2022 Consumer Research Study
Adopter: Financial Services Regulatory Authority of Ontario
In Ontario, distrust in banks was more common among consumers with high financial vulnerability (35%) compared to consumers with no financial vulnerability (17%).
Initiative: 2022 Consumer Research Study
Adopter: Financial Services Regulatory Authority of Ontario
Fewer than 10% of Canadians reported using a Buy-Now-Pay-Later service during 2021. Among them, about 10% found it difficult to understand their payment schedule.
Initiative: Pilot Study: Buy Now, Pay Later Services in Canada
Adopter: Financial Consumer Agency of Canada
Fewer than 50% of Canadians know how much money to save for retirement.
Initiative: Canadian Financial Capability Survey
Adopter: Financial Consumer Agency of Canada
The Financial Consumer Agency of Canada does not endorse, directly or indirectly, any adopters of the Measurement Plan, nor does it make any representations or warranties, express or implied, concerning the adopters' products or services or their fitness for a particular purpose.
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