Best Practice Report

2015 Canadian Online Banking Functionality Benchmark

CIBC Continues To Lead With Strong Digital Money Management Integration And Cross-Selling

December 30th, 2015
Peter Wannemacher, Principal Analyst
Peter Wannemacher Principal Analyst
Rachel Roizen, null
Rachel Roizen
With contributors:
Benjamin Ensor , Audrey Blumstein , Alex Causey , Nicole Lesperance

Summary

Canadian bank customers' rapidly increasing use of mobile banking has not meant the death of online banking — far from it. More than 18 million Canadians use their bank's secure website to manage their accounts, move money, pay bills, view bills and statements, seek out financial advice, open new accounts, update personal information, ask questions, and conduct a swath of other activities. So executives and digital teams at banks should keep a close eye on whether customers can complete their goals on the secure site and how conveniently they can do so. To help digital banking teams improve their secure online banking websites, Forrester used its Website Functionality Benchmark methodology to assess and score the secure websites of the five largest retail banks in Canada across 50 criteria. This report outlines our findings as well as the insights and online banking best practices we uncovered.

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