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RBC Royal Bank wins top honour in Canadian online banking study for the second straight year

Toronto, ON --- October 26, 2011 --- Consumers can again look to RBC Royal Bank for the most comprehensive online banking experience in Canada.

For the second straight year RBC Royal Bank has ranked 1st in Surviscor’s Online Banking scorCard, a comprehensive, objective annual assessment of online features and functionality at major Canadian banking institutions.

TD Canada Trust, a previous two-time winner, again placed second. Last year’s third place finisher, CIBC, has been bumped by BMO Bank of Montreal which jumped from eighth place. This year also marks the first time the big five banks have taken the top five spots.

“RBC Royal Bank topped the scorCard again because they didn’t rest on their laurels and continued to enhance their online services,” said Glenn LaCoste, President of Surviscor Inc.

“I’m very pleased that RBC has received this recognition for the second year in a row. Our dedicated team has worked hard, year after year, to provide our clients with an online experience that’s second to none. Our goal is to make it easy, convenient and safe for our clients to bank online. We’ll continue to add more features and functionality so clients can manage their finances when and where they want," said James McGuire, Vice President, Digital Strategy & Experience, RBC.

Surviscor’s unique simulated-usage study, now in its fourth year, measures over 2,000 objective criteria within multiple service categories that are weighted according to industry-defined importance. The design and execution of the scorCard is powered by CorbinPartners Inc., a leading provider of business intelligence in Canada.

“The Online Banking scorCard is a great source of information for consumers and an opportunity for banking institutions to learn where they can improve,” said LaCoste.

BMO Bank of Montreal and ING Direct improved the most relative to 2010, BMO bank of Montreal jumping five spots in the rankings and ING Direct increasing its score by 18 points. “BMO finally woke up and ING is now in the game,” said LaCoste.

RBC Royal Bank took the top score in two of the five main measurement categories, ‘Customer Support’ and ‘Website Transactions.’ TD Canada Trust had the best marks for the ‘Getting Started’ and ‘Website Design’ categories. Coast Capital Savings scored highest in the ‘Service Rates and Fees’ category. CIBC and Scotiabank failed to take the top scores in any service category this year after winning ‘Getting Started’ and ‘Website Transactions’, respectively, in 2010.

New to this year’s scorCard was an expanded analysis of mobile banking services, environmentally-friendly features and use of social media. “We enhanced these criteria because each is growing in importance for consumers,” said LaCoste.

Overall, LaCoste said, banking institutions are striving to provide better online services, “but the scorCard shows there’s always room for improvements.”

 
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