Insights into the risks and benefits of digital financial services for consumers

One of the consequences of social distancing and other restrictions, during the pandemic, such as those on business operating hours, is that consumers spent more of their time searching for information, shopping, and streaming entertainment on-line. With more free time on their hands and money in the bank, a larger percentage of the population took up an interest in investing, often through on-line brokerage platforms or in the cryptoasset markets.

Because consumers have been spending more time on-line since the start of the pandemic, they have been more exposed to on-line fraud. In addition to phishing and malware, consumers are dealing with known scams but in digital form, often on social media.

For some consumers, the evergrowing number of reliable and accessible information sources could lead to information overload, also known as “infobesity, where there is so much information that the consumer cannot process it all. Infobesity can lead to decision paralysis. 

In this paper the AMF make the most of their 360-degree view on the financial industry’s digital transformation to review the main changes that occurred in each of their areas of focus, describe the risk of digitalization for the consumers of financial products and services and present the potential opportunities that have been identified to mitigate these risks.



Managing debt

Managing debt doesn't have to be overwhelming. These tips and tools from the Ontario Securities commission can help you borrow wisely and pay off debt more quickly.



Research study: Crypto assets 2022

This study by the Ontario Securities Commission examines Canadians’ crypto ownership and knowledge. It found 13% of Canadians currently own crypto assets or crypto funds. The study also found most Canadians did not have a working knowledge of the practical, legal and regulatory dimensions of crypto assets. Crypto assets were believed to play a key role in the financial system by 38% of those surveyed. The study provides a profile of crypto owners, their reasons for purchasing crypto assets or crypto funds, the role of financial advice, impact of advertising, and the experience of crypto owners with crypto trading platforms. 



National financial literacy strategy video gallery



Financial literacy around the world: insights from the S&P’s rating services global financial literacy survey

The Standard & Poor's Ratings Services Global Financial Literacy Survey is the world’s largest, most comprehensive global measurement of financial literacy. It probes knowledge of four basic financial concepts: risk diversification, inflation, numeracy, and interest compounding.

The survey is based on interviews with more than 150,000 adults in over 140 countries. In 2014 McGraw Hill Financial worked with Gallup, Inc., the World Bank Development Research Group, and GFLEC on the S&P Global FinLit Survey.



Behavioural bias checker

Being aware of potential biases can help you become a better decision-maker. Use this tool to improve your awareness of different behavioural biases or “blind spots” that may influence your decisions.



Municipal Toolkit: A toolkit for embedding financial empowerment supports into municipal services

Financial empowerment (FE) is an approach to poverty reduction that focuses on improving the financial security of people living on low income. Evidence shows that embedding FE interventions into municipal welfare, employment, housing, shelter and health services can significantly boost service outcomes and support the life stabilization framework.

If you are a manager or frontline staff working in municipal services and starting your FE journey, this toolkit can help you to begin embedding FE supports into your existing programs.

Prosperity Gateways: Cities for financial empowerment is an initiative at Prosper Canada which aims to reduce poverty by building financial help into municipal services used by residents with low incomes.

This toolkit has been made possible by the Government of Ontario, JP Morgan Chase and the Maytree Foundation. Prosper Canada is grateful to our financial empowerment community partners and Ontario Works offices for their collaboration in this effort. We also recognize related pioneering work by US-based Prosperity Now and the CFE Fund.

Worksheet resources in this toolkit are available as fillable PDFs. Please open with Adobe Acrobat Reader for full functionality.