A majority of Canadians (67 percent) say they are open to trying new banking or payment technology such as remote check deposit or mobile payments, according to a new study by the Canadian Imperial Bank of Commerce.

Almost all younger Canadians surveyed said they are open to trying new banking or payment technology, but their older counterparts are less certain and slower to adopt. 

"[T]hese poll findings demonstrate that Canadians are interested in making new technology part of their banking experience," said David Williamson, senior executive VP and group head of retail and business banking at CIBC. "While the majority of Canadians are open to using innovative ways to bank and make payments, the adoption curve is different across age groups, underlining the importance of finding the right balance for each client."

Key poll findings include:

• millennials are more open to trying new banking or payment technology than those 55 and older;
• millennials are more likely to be early adopters or fast followers in the use of new banking technology;
• baby boomers typically wait for an innovation to be widely used before adopting; and
• most Canadians prefer the convenience of banking remotely, but for more complex questions, they prefer a branch visit.

"[E]ach client has their own comfort level when it comes to using a new banking service for the first time," Williamson said. However, he added, "Our experience is that once a client is comfortable using digital channels like mobile banking and payments, their banking experience improves and their relationship with the bank gets stronger."

The breakdown:

CIBC defined baby boomers as those born between 1946 and 1965 (age 55 to 70); and millennials as those born between 1980 and 2000 (age 15 to 35). The CIBC poll was limited to millennials age 18 and older.