TORONTO, ON –BMO Financial Group has reached the pantheon in retail banking from the customer experience standpoint. It received the highest customer satisfaction ranking in retail banking advice amongst Canada’s largest banks in the J.D. Power 2020 Canada Retail Banking Advice Satisfaction Study.
BMO scored top marks in numerous categories directed at creating leading customer experiences including: frequency of advice, relevance of advice, concern for customer needs, clarity of advice and quality of advice.
BMO’s performance in this year’s study was supported by the bank’s growing portfolio of digital tools, which are focused on key areas of customer needs, including:
- Managing day to day finances. BMO Insights, an AI powered solution, delivers personalized, automated and actionable insights;
- Planning for the future. BMO WealthPath, a goals-based financial planning platform, facilitates discussions with financial advisors;
- Investor education. Accomplished through articles and webinars from industry leaders focused on helping customers make smarter investment decisions; and
- Online advice. To help customers determine the best investment options based on their goals and risk tolerance.
The study included responses from 1,685 retail bank customers in Canada who received any advice or guidance from their primary banks regarding relevant products and services or other financial needs in the past 12 months. The study was fielded in October-November 2019.
“This recognition is a testament to the employees across our business who help customers at every stage of their journey, whether it’s saving for a child’s education, purchasing a new home or planning for retirement,” said Ernie Johannson, group head, North American Personal Banking, BMO Financial Group. “We look forward to continuing to combine best in class advice with digital solutions to help our customers make real financial progress in their lives.”