More than half of Canadians are financially vulnerable or stressed, yet nearly two-thirds used AI tools in the past year and 41% sought personal finance information from AI, according to the JD Power 2026 Canada Financial Health Support and Advice Satisfaction Study. Among those who used AI for financial advice, 73% acted on it, a rate comparable to how customers act on bank advice. The study found that customers most want long-term advice on investments and retirement, as well as short-term guidance on fee reduction and improving their financial situation. Despite high awareness of bank support services, only 15% of customers use spending management tools and 12% use money management or financial health education services. In the satisfaction rankings, RBC ranked highest in retail banking advice for a sixth consecutive year with a score of 589, while CIBC led in credit card health support with a score of 560.
Canadian Imperial Bank Of CommerceCIBC ranked highest in credit card health support, which may drive customer engagement and usage of its services.
Royal Bank of CanadaRBC ranked highest in retail banking advice for sixth consecutive year, indicating strong customer satisfaction and potential loyalty.