Canadian Banking Firms - Service Levels
Banking Service Levels Review
Service reputation is the cornerstone of any consumer and business relationship and can be measured in several ways. Surviscor has been analyzing customer service experience since 2006 to hold firms accountable, compiling in excess of 100,000 service interactions across 45 plus firms. The review was expanded for the 2020 results to incorporate service interaction capabilities at all firms, both inside and outside the customer login process and across all digital devices.
The Latest Rankings
For the third straight year, Conexus Credit Union provides the Best Digital Banking Service Experience in Canada. It is difficult to turn on any media source and not find someone, or some group, complaining about poor customer service experiences. In most cases, the complaints are valid. The digital banking industry is not doing anything to improve the theory, averaging a staggering 50 hours to respond to a non-social media digital interaction in 2022. Even a deeper dive into the top ten firms, which removes the outliers, indicates an average close to 30 hours which further supports the theory.
| 2023 Rank | Digital Banking Firm | Peer Score | Response Time* | Firm Review |
|---|---|---|---|---|
| 1 | Conexus Credit Union | 92 % | 6 hours | See Analysis |
| 2 | Desjardins | 67 % | 21 hours | See Analysis |
| 3 | Assiniboine Credit Union | 64 % | 10 hours | See Analysis |
| 4 | Servus Credit Union | 58 % | 32 hours | See Analysis |
| 5 | Envision Financial | 48 % | 24 hours | See Analysis |
| 6 | Vancity | 39 % | 37 hours | See Analysis |
| 7 | Alterna Savings | 39 % | 39 hours | See Analysis |
| 8 | National Bank of Canada | 38 % | 52 hours | See Analysis |
| 9 | Laurentian Bank of Canada | 34 % | 48 hours | See Analysis |
| 10 | Coast Capital Savings | 33 % | 61 hours | See Analysis |
| 11 | Motive Financial | 32 % | 48 hours | See Analysis |
| 12 | motusbank | 30 % | 52 hours | See Analysis |
| 13 | ICICI Bank of Canada | 30 % | 31 hours | See Analysis |
| 14 | CIBC | 29 % | No e-Service | See Analysis |
| 15 | Simplii Financial | 28 % | 78 hours | See Analysis |
| 16 | Meridian Credit Union | 26 % | 62 hours | See Analysis |
| 17 | BMO Bank of Montreal | 24 % | No e-Service | See Analysis |
| 18 | TD Canada Trust | 23 % | No e-Service | See Analysis |
| 19 | Alterna Bank | 23 % | 62 hours | See Analysis |
| 20 | Steinbach Credit Union | 22 % | 59 hours | See Analysis |
| 21 | Scotiabank | 21 % | No e-Service | See Analysis |
| 22 | ATB Financial | 21 % | 56 hours | See Analysis |
| 23 | Tangerine | 21 % | No e-Service | See Analysis |
| 24 | RBC Royal Bank | 21 % | No e-Service | See Analysis |
| 25 | Affinity Credit Union | 21 % | 50 hours | See Analysis |
| 26 | EQ Bank | 19 % | 70 hours | See Analysis |
| 27 | Manulife Bank of Canada | 17 % | 76 hours | See Analysis |
| 28 | Blueshore Financial | 16 % | 111 hours | See Analysis |
| 29 | HSBC Canada | 14 % | No e-Service | See Analysis |
| 30 | PC Financial | 11 % | No e-Service | See Analysis |
| 31 | Pace Credit Union | 5 % | No e-Service | See Analysis |
| 32 | First Calgary Financial | 2 % | No e-Service | See Analysis |
* Response Times are based on 147 service interactions per firm over the 2022 calendar year
Experience Categories
The Service Level Experience Review explores the various service interaction methods and the availability of each method across both the desktop-based and mobile-based digital devices, and 'mystery shopping' service interaction responsiveness data initiated through the non-social, public-facing interaction facility provided by the Contact Us information at each Canadian Digital consumer banking firm. Service interaction data is collected using Surviscor's ongoing Service Level Assessment program that has been in place since 2006.
Monthly Service Standards
The sub-category audits the monthly average response time (ART), classifying each firm into one of the the following standards: Platinum, Gold, Silver and Bronze. Firms not classified are considered inadequate and require improvement.
Monthly Service Level Index (SLI)
Non-Customer Online Interaction Resources
Customer Online Interaction Resources
Monthly Average Response Time (ART)
Daily SLI - ART
Non-Customer Mobile Interaction Resources
Customer Mobile Interaction Resources
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