Canadians continue to have confidence in the financial services sector, but that confidence comes with some important caveats.
While 58% of Canadians express confidence in the sector, many also report concern (46%), skepticism (42%), and confusion (34%). Strong satisfaction numbers also tell only part of the story. Although 89% are satisfied with their overall experience, just 33% are very satisfied, and 24% say they’re likely to switch because of customer experience issues.
Leger’s new report, Reading the Moment, brings together proprietary research across sentiment, customer experience, brand, advice, governance, digital readiness, newcomers, and wealth transfer to highlight the signals financial services leaders should be watching now.
Among them:
- Trust is increasingly conditional: trust-related factors outweigh digital tools by roughly 3x in explaining financial institution satisfaction.
- Brand credibility isn’t enough: 43% of customers sit in “Fragile Alignment” between brand promise and lived experience.
- Advocacy can overstate loyalty: 48% of those considering switching have also recommended their main financial institution.
- Innovation requires proof of control: 82% put protection first.
The next advantage belongs to institutions that can turn sector truth into institutional action. Discover where trust is holding, where relationships are becoming vulnerable, and where the next opportunities for growth may lie.
