Canadian Online Banking Rankings

Surviscor Canadian Online Retail Banking Review

The Online Retail Banking Review was introduced in 2008 and explores a typical desktop-based online banking experience, including both the pre-login and login areas, that evaluates the online journey through each banking process and typical retail banking experience.

What we Measure and The Deep Dive that Differentiates.

# of Questions

The questions form the basis for the online analysis and represent the lowest level of features surrounding the main functionality under review. The binary questions are used to replicate the various actions an actual user would perform when using the online platform.

# of Criteria

The second step is the criteria analysis which places groupings of questions together to form the ‘experiences’ or usability encountered by an online user. For example, placing a trade is not simply pressing Buy or Sell buttons. The process involves supporting actions and information.

# of Sub-Categories

The third step places the individual experiences into relevant sub-categories that are grouped according to the general activity performed by an online user. The sub-categories are then assigned weightings according to the importance the group of experiences contributes within its category.

# of Categories

The last step takes the sub-category items under review and rolls them up into the final industry ranking and individual scores. In most cases, the category weightings are defined by the industry firms once the review is complete which then forms the final online scores and rankings.

Online Banking Review - Experience Categories

The Online Retail Banking Review objective criteria is divided into five main categories, each weighted according to industry-defined importance, for an overall maximum score of 100.

Initial Experience - The Pre-Login

The category explores the services available through the pre-login online platform, available to both existing and prospective online banking customers.

Account Information Experience

Relationship Resources

User Experience

Transactional Experience

The Latest Rankings

What will you remember when you look back on a year you were told to keep living your life but to do it from home as much as possible? It will not be that you started to bank more online as many Canadians have been banking online for nearly 20 years now, but you may remember it as the last time you visited branch. To say the least, 2020 has been an interesting year as many Canadians we were forced to work from home and limit exposure to other Canadians. The COVID-19 pandemic meant we were home more, watching TV more and streaming data at record levels. The banks took notice. We will remember 2020 as the year the banks stepped up in marketing digital capabilities to Canadians despite the 20-year track record. Seniors were told how easy it was to bank using a computer while all other age groups were reminded, yet again, of the ease of use of banking using digital devices.
2020 Online Experience Rank Firm Name Peer Score 2021 Mobile Experience Rank Revised
1 RBC Royal Bank 99 % 3rd
2 Scotiabank 93 % 4th
3 CIBC 89 % 1st
4 BMO Bank of Montreal 87 % 8th
5 TD Canada Trust 85 % 5th
6 Desjardins 84 % T-9th
7 Coast Capital Savings 80 % 6th
8 National Bank of Canada 78 % 7th
9 Tangerine 75 % 2nd
10 Conexus Credit Union 71 % T-11th
11 Simplii Financial 68 % T-11th
T-12 motusbank 67 % 13th
T-12 ATB Financial 67 % 16th
T-12 Meridian Credit Union 67 % T-9th
15 HSBC Canada 66 % T-22nd
T-16 Alterna Savings 57 % T-19th
T-16 Blueshore Financial 57 % 17th
T-16 Vancity 57 % 14th
19 Motive Financial 59 % T-19th
T-20 Servus Credit Union New Firm 56 % T-22nd
T-20 Alterna Bank 56 % 21st
22 PC Financial New Firm 48 % No Review
23 EQ Bank 48 % 15th
24 Laurentian Bank of Canada 43 % Last - 24th
25 Manulife Bank of Canada 41 % 18th

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