• A survey by The Digital Banking Report shows Canadian consumers expect AI-powered fintech solutions from banks, including real-time financial advice and fraud detection.
  • Over 60% of respondents believe AI can enhance banking services, while 70% see it as a key tool for fraud prevention.
  • While banks adopt AI to stay competitive, data security remains a concern, with 55% of consumers calling for more transparency and regulation.

A new survey from The Digital Banking Report reveals that Canadian customers are increasingly demanding AI-powered fintech solutions from banks.

With a growing preference for personalized financial services, automation, and improved fraud prevention, this report also shows how this pushes traditional banks to accelerate their digital transformation efforts.

More than 60% of respondents expect AI to enhance banking experiences, particularly in areas like real-time financial advice, budgeting tools, and faster loan approvals.

The report, titled “Understanding Consumer Demand in the AI-Banking Era,” reveals that 84% of respondents expressed a willingness to switch banks so as to receive sufficiently convenient services.

“Today’s consumers are digitally savvy and expect advanced, personalized banking experiences,” explains Udi Ziv, chief executive officer of Personetics.

Personetics supports 150 million customers across 35 global markets. The firm has been powering fintech solutions in Canada for several years.

“Banks must meet this demand by providing comprehensive, needs-based services that leverage AI-driven insights and advice to assist their customers in making smarter financial decisions,” Ziv added.

In 2025, Canadians expect their financial institution to “proactively analyze and understand their financial situation and needs according to their daily spending and saving habits,” according to the survey conducted among 2,000 banking customers across North America and other regions.

With hardly any surprise element to it, among the respondents, the younger demographic turned up to be the most demanding of modern fintech features as they sought out intelligent, digital-first banking solutions.

“Our members are increasingly online, especially on mobile,” Etienne Chabot, Digital Transformation Manager at Desjardins, explained in January.
“We wanted to provide personalized financial management capabilities exactly when and where our members needed them, not through monthly statements requiring manual consolidation.”

The Canadian financial institution Desjardins launched Alvie, its AI-powered virtual assistant in 2024, as soon as they saw the shift in their customers switching to more digital options.

Edited by Harshajit Sarmah