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West Neighbourhood House and Prosper Canada have partnered to implement the use of a financial coaching/counselling platform. The goal is to develop a platform that seamlessly integrates all functions, from the first point of consumer contact to the financial coach’s/counsellor’s ongoing support of their client. Assessing and monitoring clients’ financial wellbeing is of key significance and will help tailor support to consumers’ needs. The platform will provide an understanding of key indicators such as income progression, savings, credit score, and financial goal progression.

Adopter: West Neighbourhood House

Families Canada is working to connect women living on low incomes with financial literacy programs that meet their needs. Through national research and consultations, they have identified gender-specific barriers that prevent women living on low incomes (particularly those that have experienced trauma and violence) from accessing financial literacy information and financial products and services. They offer professional development training to help financial literacy educators understand and apply trauma- and violence-informed approaches (TVIA) when supporting women. They continue to work to incorporate Strategy-Aligned Measures in their financial literacy work, and take a systemic approach to improving women's and girls' economic security and prosperity.

Adopter: Families Canada

As part of its IMAGINE 2030 vision of financial wellness for all Canadians, FP Canada has committed to conducting an annual survey to measure Canadians’ financial health through indices tracking four areas: financial well-being; financial confidence; access to financial advice; and trust in financial professionals. The results of the inaugural survey were published in the IMAGINE 2030 Benchmark Report, released in May 2022. FP Canada will provide a progress report each year until 2030.

Adopter: FP Canada

Black Moms Connection launched FinLit U in 2020. It is an 8-week financial literacy masterclass designed for Black mothers and is led by Black financial professionals. The program leaders consult with consumers and financial professionals from the Black community to ensure a highly tailored approach that aims to improve confidence and rates of inclusion in the financial system. They use qualitative and quantitative feedback to assess consumers’ access and use of financial products and services, as well as to get a sense of the kinds of negative experiences that Black consumers may face.

Adopter: Black Moms Connection

The Survey of Canadians’ Use of Banking Products and Services is designed to collect information during the pandemic about how Canadians are consuming financial products during the pandemic and to what extent they are accessing COVID-19-related financial assistance offered by the banks.

Adopter: Financial Consumer Agency of Canada (FCAC)

Through peer-to-peer mentoring, PennyDrops has reached more than 17,000 high school students and 6,500 university students across Canada by delivering workshop-based sessions by trained university students. PennyDrops has also partnered with Indigenous empowerment organizations to develop programs that deliver financial literacy lessons to Indigenous youth. To track their impact, PennyDrops uses pre- and post-training surveys to assess the change in participants’ knowledge.

Adopter: PennyDrops

Savings Circles is an Individual Development Account (IDA) program that works with people in Calgary and surrounding area and Indigenous people within Treaty 7 Territory who are living on lower incomes and striving for more stability. For six months, participants commit to saving between $5 and $50 each month, engage in a minimum of two individual meetings with the facilitator, and attend seven money management workshops. Monthly during the program, a participant’s savings are matched 3:1. This allows them to save up to $1,200 to purchase a productive and meaningful asset that will make a difference in the quality of their life.

Adopter: Momentum

The CCFWE are currently working with financial service providers, social service agencies, policymakers and family lawyers to build tools and resources that will help them identify and respond to signs of domestic economic abuse for victims of intimate partner violence. These tools include the Economic Abuse Screening Tool for social service providers that helps frontline workers detect victims and refer them to appropriate financial resources; fact sheets for banks, social service providers and the general public on economic abuse tactics and resources; a financial literacy course specifically designed for victim-survivors to recover from economic abuse.

Adopter: Canadian Center for Women’s Empowerment

QUBER is a personal finance app that encourages saving and learning through gamification. They use savings challenges, lotteries, and matched savings programs to nudge people to save more. Working with employers and Financial Institutions, they are able to capture key demographic and vulnerability-related information (e.g., people without emergency funds or those living paycheque-to-paycheque), as well as Strategy-Aligned Measures on the success, and number, of users completing challenges. They track saving amounts, frequencies, retention, fees paid, and confidence levels.

The Survey of Consumers' Awareness of their Financial Rights and Responsibilities gathers evidence of certain financial rights and responsibilities, highlights potential gaps in consumers’ awareness of certain financial risks identified in the Financial Consumer Agency of Canada's industry review of bank sales practices, and assesses results against the baseline established in 2019.

Adopter: Financial Consumer Agency of Canada (FCAC)

Free, non commercial financial literacy education seminars designed to help Canadians gain an understanding of responsible financial management and achieve financial well-being. The seminars are presented by volunteer bankers in communities across Canada in English and French and are available both virtually and in-person.

Adopter: Canadian Bankers Association

Just the Financial Facts surveyed an array of personal loan products, generally small unsecured loans, from various financial service providers in San Francisco’s Mission District. The first phase in the research process involved taking an inventory of all services offered by financial companies in the Mission. In the second phase of the study, the research team visited financial establishments and inquired about borrowing $1,000 to pay for a security deposit on an apartment.

Adopter: Mission Asset Fund

Monkiri uses modular gamified lessons that aim to improve both consumer knowledge and skills, using unbranded and neutral content, without offering or recommending specific financial products or services. They collect basic demographic information and track users' behavioural performance over time, including completion times and changes in confidence. Monkiri also empowers other organizations to create their own lessons which can be distributed and tracked through the mobile app.

Adopter: Monkiri

The Digital Literacy Exchange Program supports initiatives that teach fundamental digital literacy skills and promotes inclusion for Canadians from underrepresented groups who lack the fundamental digital literacy skills to participate in the digital economy and society. The program tracks many Strategy-Aligned Measures, including the percentage of program participants from underrepresented groups in the digital economy, and the percentage of program users that have increased their confidence, as well as those who report having improved their skills in using the Internet.

Free, non commercial financial literacy education seminars designed to help Canadians gain an understanding of responsible financial management and achieve financial well-being. The seminars are presented by volunteer bankers in communities across Canada in English and French and are available both virtually and in-person.

Adopter: Canadian Bankers Association

Customer Outcomes-Based Approach to Consumer Protection is a pilot exercise that involved the Financial Sector Conduct Authority (FSCA) and five financial service providers in South Africa who focused on measuring intermediate customer outcomes from a supervisory perspective. It provides guidance and recommendations primarily to authorities for measuring and monitoring customer outcomes and to FSPs for leveraging internal data and tracking progress toward achieving better customer outcomes.

Adopter: Consultative Group to Assist the Poor

The 2019 Canadian Financial Capability Survey is designed to shed light on Canadians’ knowledge, abilities and behaviours as they relate to making financial decisions. A key objective is to assess how Canadians are doing on indicators of financial well-being and inform ongoing efforts aimed at strengthening their financial literacy.

Adopter: Financial Consumer Agency of Canada (FCAC)

The COVID-19 Financial Well-Being Survey is a monthly survey designed to collect information during the pandemic about Canadians' day-to-day financial management and financial well-being.

Adopter: Financial Consumer Agency of Canada (FCAC)

The Financial Competence Framework for Adults in Europe promotes a shared understanding of the financial competences adults need to make sound decisions on personal finance.

Adopter: OECD International Network on Financial Education

BEAR publishes guides and reports for stakeholders on how to apply behavioural insights, as well as engage in financial consumer research—for example, collecting data on credit card choice and ways to effectively promote savings behaviours.

Adopter: Behavioural Economics in Action at Rotman

Financial Literacy Evaluation Resource Kit includes Strategy-Aligned Measures that gather information about the frequency and kinds of financial help opportunities that consumers engage in.

Adopter: Prosper Canada

The Survey of Consumer Finances (SCF) is normally a triennial cross-sectional survey of U.S. families. The survey data include information on families’ balance sheets, pensions, income, and demographic characteristics. Information is also included from related surveys of pension providers and the earlier such surveys conducted by the Federal Reserve Board.

Adopter: Federal Reserve Board

The US National Financial Well-Being Survey measures the financial well-being of a national sample of adults selected to reflect the U.S. population using the CFPB's Financial Well-Being Scale. It also includes measures of individual and household characteristics that may influence adults’ levels financial well-being.

Adopter: Consumer Financial Protection Bureau

Fintech Cadence supports the financial literacy ecosystem—and, in turn, promotes increased digital access and digital literacy—by helping to build and sustain the Fintech community. They promote the education of Fintech talent, support early-stage start-ups, and develop collaborations with financial institutions to help solve industry challenges. They track the FinTechs in Canada, their areas of specialty, what kinds of products and services they provide, as well as details about their target audiences.

Adopter: Fintech Cadence

The Pilot Study: Buy Now, Pay Later Services in Canada is a survey from the Financial Consumer Agency of Canada. It aimed to broaden the Agency's understanding of the buy now, pay later market in Canada, from the perspective of Canadian consumers.

Adopter: Financial Consumer Agency of Canada (FCAC)

The US Consumer Complaint Database is a collection of complaints about consumer financial products and services that the Consumer Financial Protection Bureau has sent to companies for response. Complaints are published after the company responds, confirming a commercial relationship with the consumer, or after 15 days, whichever comes first.

Adopter: Consumer Financial Protection Bureau

The Financial Wellbeing Survey 2021 is a nationally representative survey of over 10,000 adults living in the UK. The questionnaire covers the building blocks required for people to feel financially resilient, confident, and empowered.

Adopter: Money and Pensions Service

The Survey of Household Economics and Decisionmaking measures the economic well-being of US households and identifies potential risks to their finances. The survey includes modules on a range of topics of current relevance to financial well-being including credit access and behaviours, savings, retirement, economic fragility, and education and student loans.

Adopter: Federal Reserve Board

The Financial Lives Survey is a nationally representative survey of UK consumers. It provides information about consumers’ attitudes towards managing their money, the financial products they have and their experiences of engaging with financial services firms.

Adopter: Financial Conduct Authority

The Financial Superintendence of Colombia developed and fielded this survey in 2019, in collaboration with the Development Bank of Latin America. It includes indicators on financial capability, literacy, education, and wellbeing.

Adopter: Superintendencia Financiera de Colombia

Equifax is currently focused on acquiring rental data in Canada to support the credit underserved. Canadians who rent their homes are often paying more than they would pay for a mortgage, but don’t get credit for consistently making those payments. Adding this to the mix can paint a more accurate picture for those who don’t have data traditionally used to describe financial health, helping them have more equitable access to credit.

Adopter: Equifax

CPA Canada conduct nationally representative surveys annually to examine people’s attitudes and feelings towards their personal finances. The surveys help monitor how Canadians are handling new financial realities, managing financial stressors, and engaging in personal financial planning.

Adopter: Chartered Professional Accountants of Canada (CPA)

The Bitcoin Omnibus Survey monitors trends in Canadians’ awareness, ownership and use of Bitcoin and other crypto assets. The survey also measures Canadians’ financial and crypto literacy, and their use of cash.

Adopter: Bank of Canada

The 2018 Financial Capability Survey is a nationally representative survey of adults living in the UK. The questionnaire covers the building blocks of financial capability.

Adopter: Money and Pensions Service

The goal of the mystery shopping project is to better understand how frontline bank employees sell financial products and services and how consumers experience the sales process.

Adopter: Financial Consumer Agency of Canada (FCAC)

The Global Findex Database (2021) has data on global access to financial services from payments to savings and borrowing. It offers insights into the behaviours that enable financial resilience, as well as identifies gaps in access to and usage of financial services by women and poor adults.

Adopter: The World Bank

The 2022 Canadian Internet Use Survey gathers data on how digital technologies and the Internet are transforming society, the economy, and the everyday lives of Canadians.

Adopter: Statistics Canada

Surveying over 4,000 Canadians, this tool has helped understand consumers’ thoughts, attitudes and behaviours regarding homeownership and the process of obtaining a mortgage.

Adopter: Canada Mortgage and Housing Corporation

A retirement savings plan for Canada's not-for-profit sector, designed to make retirement easier and more affordable.

Adopter: Common Good Plan

The Financial Capability Outcomes Framework for Adults describes the key elements of financial capability for people from 18 years old through to later life.

Adopter: Money and Pensions Service

CanAge works with government and financial service providers to identify challenges that frontline employees face when trying to provide optimal service for, and fair treatment of, seniors. This work is particularly relevant in supporting banks’ compliance with the Code of Conduct for the Delivery of Banking Services to Seniors.

Adopter: CANage

The Financial Literacy Survey tracks key data points that show trends associated with personal finance challenges and priorities including retirement, savings, credit card debt, student loan debt and more.

Adopter: National Foundation for Credit Counseling

The Survey on Savings for Persons with Disabilities gathers information about the knowledge and behaviours of Canadians with disabilities and their caregivers with regard to savings.

Adopter: Statistics Canada

The Financial Industry Regulatory Authority (FINRA) Foundation’s National Financial Capability Study provides important insights into the financial capability of US adults—including financial knowledge, resources, access, experience, and attitudes.

Adopter: FINRA Investor Education Foundation

Seedwell is a personal finance app using behavioural insights to help consumers. Provided by employers, the app provides a central hub to help employees navigate the financial marketplace starting directly from their paycheque deposit. Consumers are provided with nudges (e.g., anticipating their pay and identifying ways they could use those funds), and access to financial literacy material and financial advisors, without being recommended specific products.

Adopter: Seedwell

A free introductory financial literacy program for adult learners. The program offers free resources, workshops, and online courses to help learners increase their confidence to better manage their finances.

Adopter: ABC Life Literacy Canada

The Survey on Banking of Canadians assesses the banking experiences of older Canadians as well as to identify challenges and potential solutions.

Adopter: Financial Consumer Agency of Canada (FCAC)

The Digital Credit Survey is a phone survey designed to assess the size of the market and key characteristics of digital credit users in Kenya.

Adopter: Financial Sector Deepening Kenya

Share insights, experience and statistical information with regulators, government, industry and consumer groups to help inform public policy decisions.

Adopter: Ombudsman for Banking Services and Investments

The Financial Well-Being survey was designed to capture the different aspects of financial capability and well-being defined in a priori conceptual framework of financial well-being and its possible determinants.

Adopter: Consumption Research Norway