Canada’s banks embrace smartwatch apps, other new technology to woo younger clients

Canada’s banks are shaking off a bit of the stable-but-staid reputation they built by dodging the worst of the global financial crisis as they embrace new technologies to reach an increasingly tech savvy audience.

In doing so, the country’s Big Six banks seek to woo younger clients at a time when their retail growth is starting to slow.

Bank of Nova Scotia, for instance, launched a new app for Samsung’s Gear 2 and Gear S smartwatches on Monday that allows clients to check their account balances by just swiping a finger across the screens on their wrists.

The Quick Balance app follows Scotiabank’s 2013 introduction of mortgage prepayment options and paperless statements on mobile devices.

“We have seen a definite shift in the way consumers are interacting with our products and services, and it is our goal to stay ahead of the curve,” said Jeff Marshall, Scotiabank’s head of self-service Customer Experience.

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