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89% of participants reported having improved skills using the Internet following a digital literacy training program.

Initiative: Digital Literacy Exchange Program

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

One year after a digital literacy training, the percentage of people who never use the Internet dropped from 3% to 1%.

Initiative: Digital Literacy Exchange Program

If provided with an opportunity to speak to a financial advisor about one topic, Canadians ranked investing first, followed by retirement and budgeting.

Initiative: QUBER App

Only 1 in 4 Canadians can correctly identify the compounding effect of fees on investments over time.

Initiative: Investor Survey

About half of Canadians understand that a mutual fund provides a safer return than an individual stock.

Initiative: Investor Survey

Fewer than 50% of Canadians know how much money to save for retirement.

Initiative: Canadian Financial Capability Survey

Among Canadians who have debt, 30% of them sought advice from financial professionals to help them manage debt.

Initiative: Monthly Financial Well-Being Monitor

8% of Canadians reported that they could not get the financial support or advice they needed.

Initiative: Free independent ecosystem reports

More than 10% of Canadians reported that they could not access trustworthy and unbiased financial advice.

Initiative: Free independent ecosystem reports

1 in 5 Canadians are DIY investors. DIY investing is more popular among racialized Canadians (28%) than it is among non-racialized Canadians (18%).

Initiative: Investor Survey

In 2021, one in five Canadians with a health condition said their condition made it difficult to deal with their bank.

Initiative: Survey of Consumers' Awareness of their Financial Rights and Responsibilities

Participants of the FinLit U program reported more frequent saving after the 8-week workshop.

Initiative: FinLit U

More than 60% of QUBER users took action to save money based on a behavioural nudge in the app.

Initiative: QUBER App

54% of Canadians have received information on identifying investment fraud, mainly from bank resources, online material, financial advisors, or social media.

Initiative: Investor Survey

Canadians’ top preference for receiving information about their investments is through digital channels (68%) followed by meeting with their advisor or getting a paper copy of their investment banking statement (15% each).

Initiative: Investor Survey

About 60% of Canadians understand that bitcoin is not backed by a government.

Initiative: Bitcoin Omnibus Survey

Adopter: Bank of Canada

About 40% of Canadians understand when it is financially beneficial to borrow money.

Initiative: Canadian Financial Capability Survey

In 2023, about 5% of Canadians reported that they could not access digital financial tools or resources.

Initiative: Free independent ecosystem reports

65% of QUBER users accepted and successfully completed a saving challenge, and of those, 80% continued with other saving goals.

Initiative: QUBER App

20% of Canadian investors do not know whom to contact if they want to make a formal complaint.

Initiative: Investor Survey

Racialized Canadians are more likely to self-report having a higher risk tolerance (16%) compared to other Canadians (6%).

Initiative: Investor Survey

51% of homebuyers said that they discussed unexpected costs with their mortgage professional.

Initiative: Mortgage Consumer Survey

80% of QUBER users accepted a saving challenge, and of those, more than 80% successfully completed the challenge.

Initiative: QUBER App

About 70% of Canadians say they are financially preparing for retirement.

Initiative: Canadian Financial Capability Survey

About half of Canadians do not own investments, citing not having enough money to invest as the top reason.

Initiative: Investor Survey

About 5% of Canadians reported that they could not access insurance.

Initiative: Free independent ecosystem reports

About 40% of Canadians compared credit cards from different companies before applying.

Initiative: Canadian Financial Capability Survey

40% of workshop participants opened tax-free savings accounts for emergency savings.

Initiative: A targeted savings program

Adopter: Anonymous organization

About 60% of Canadians understand the effect of inflation on savings.

Initiative: Investor Survey

2 in 3 Canadians understand how compound interest works.

Initiative: Investor Survey

Nearly 11% of Canadians reported that they could not access affordable credit.

Initiative: Free independent ecosystem reports

35% of homebuyers paid more than what they had planned.

Initiative: Mortgage Consumer Survey

About 75% of Canadians understand what lowers house mortgage costs.

Initiative: Canadian Financial Capability Survey

18% of Canadian investors did not submit a formal complaint when they had concerns about their investment accounts, citing "nothing would come of it" as a top reason.

Initiative: Investor Survey

3% of Canadians were victims of a pyramid or Ponzi scheme.

Initiative: Canadian Financial Capability Survey

85% of those shopping for chequing accounts and 80% of those shopping for credit cards said the recommendations they received were appropriate.

Initiative: Mystery Shopping at Domestic Retail Banks

In 2020, 75% of Canadians reported having conducted online banking.

Initiative: Canadian Internet Use Survey

Adopter: Statistics Canada

40% of Canadian investors think industry disclosures are adequate.

Initiative: Investor Survey

About half of Canadians understand the relationship between bonds and interest rates.

Initiative: Investor Survey

Participants in a financial coaching program improved their credit score by 4% on average after 3 months.

Initiative: Credit Canada GOLD

Adopter: Credit Canada

35% of investors who have an advisor do not know how their advisors are compensated.

Initiative: Investor Survey

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