JD Power survey reveals the best-in-class app and website experiences for Canadian bank customers
Two of Canada’s largest banks have been named leaders in providing great customer experience online.
With digital products showing increased usage due to the lockdown, a survey of customers reveals what matters to them most and who is doing it best.
The results are contained in several newly-published reports from JD Power and highlight some key takeaways that other financial services firms can leverage when designing or updating their own digital offerings.
Customers said that digital services must be easy to use, fast, and give clear access to the most commonly used features. These are the characteristics shared by the best performers.
Because consumers are used to how services such as Netflix operate, they are happiest when their digital financial services tools offer similar flexibility. Key to this, is being able to start a process on their smartphone and pick-up on their laptop or vice versa.
Being able to see their most important financial information on the overview page also drives satisfaction – again similar to seeing the shows you are watching on streaming services’ homepage.
Who’s doing it best?
For mobile apps, which score higher overall than websites in the surveys, CIBC ranks highest in Canada banking mobile app satisfaction, with a score of 830 out of 1000.
Scotiabank (822) ranks second and BMO Bank of Montreal (816) ranks third.
"The new realities brought forth by the pandemic accelerated a digital shift that was already underway before COVID-19, and it is likely that many of the trends we're seeing will become permanent as users adopt to the convenience and ease of digital banking,” said Aayaz Pira, senior VP, Digital, CIBC.
Scotiabank ranks highest in Canada online banking satisfaction, with a score of 819. CIBC (817) ranks second and TD Canada Trust (815) ranks third.
“This top ranking is a testament to the time and investments we've made in technology and digital over the past year – and through this pandemic – to fundamentally transform the way we serve our customers,” said Shawn Rose, executive VP and chief digital officer for Scotiabank
