Javelin Strategy & Research announced the winners of its inaugural Canadian Digital Banking Scorecards. The awards are based on the results of Javelin’s 2020 Canadian Digital Banking Scorecards report, which evaluated nearly 400 digital banking capabilities at the top seven Canadian financial institutions.
RBC earned the top award in both online and mobile banking and is the recipient of Javelin’s “Best in Class” award. RBC swept all six mobile categories and achieved the top spot in five of the six online award categories. Javelin’s scorecards also honor two runners-up with an “Overall Leader” award. In mobile banking, CIBC ranked second, followed by Scotiabank. For online banking, the roles reversed, with Scotiabank ranking ahead of CIBC.
BMO Bank of Montreal, Desjardins, National Bank of Canada, and TD Canada each received a category “Leader” award in at least one mobile or online banking category. Javelin’s report analyzed and evaluated capabilities in the digital categories of Money Movement, Ease of Use, Security Empowerment, Financial Fitness, Customer Service, and Account Opening.
“There has never been a more critical time to meet digital customer expectations and demands,” said Jacob Jegher, President, Javelin Strategy & Research. “Digital investments are being put to the ultimate test, and it’s clear that some financial institutions rise to the top. Nevertheless, there are sweeping opportunities for all financial institutions to strategically invest in digital and competitively position their services for success.”
- How Canadian Banks Can Close the Gap in Digital Account Opening, January 2020.
- 2019 Mobile Banking Scorecard: Choosing Between Transactions and Transformation, June 2019.
- 2019 Online Banking Scorecard: Energizing the Digital Banking Workhorse, June 2019.
Javelin Strategy & Research, a business unit of Escalent, helps its clients make informed decisions in a digital financial world. It provides strategic insights for financial institutions, government, payments companies, merchants, fintechs and technology providers. Javelin’s independent insights result from a rigorous research process that assesses consumers, businesses, providers, and the transactions ecosystem. It conducts in-depth primary research studies to pinpoint dynamic risks and opportunities in digital banking, payments, fraud & security, and lending. For more information, visit https://www.javelinstrategy.com. Follow us on Twitter and LinkedIn.
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