Canadians need more assurance and enablement in financial services

Whether it’s a payment, an account opening, or applying for a loan, Canadians want all aspects of their personal finances to run smoothly and securely. It is a reasonable instinct. Budgeting for everyday goods and services is complicated by high prices. Saving for a down payment—for those fortunate enough to consider home ownership—requires steely discipline. And planning the investments that can support a retirement involves more effort than ever.

Per an unsurprising Deloitte report, this is of great interest to a consumer base seeking lower rates on loans, financial products based on their individual spending behaviours, and personalized tools and products that improve financial health. Consumers will also benefit from new rules that provide legal certainty and predictability to all financial transactions and data-sharing. Clear regulations and integration with existing laws will further buttress this already well-regulated sector.

Finance Policy

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