Trends Report

2015 Canadian Mobile Banking Functionality Benchmark

CIBC And Scotiabank Lead With Enhancements To Account Management Tools, Service Features, And Marketing

May 26th, 2015
With contributors:
Aurelie L'Hostis , Benjamin Ensor , Rachel Roizen , Audrey Blumstein


Competition in the Canadian mobile banking space is heating up: All of the big five banks have rolled out new features and tools in the past year, while some like TD Canada Trust have launched completely rebuilt mobile apps and sites. To help eBusiness and channel strategy leaders better understand this market, we used our Mobile Banking Functionality Benchmark methodology to evaluate the mobile banking offerings of the five largest retail banks in Canada. All of the banks that we reviewed have strong mobile foundations, with account information and transactional features available for a range of devices. But our benchmark also reveals key differences among the banks' mobile offerings. For example, Scotiabank rolled out a new best-in-class help service for mobile bankers. Most of the big five Canadian banks also made improvements to their mobile cross-selling features and content — but they approach mobile cross-selling in different ways. This report helps digital eBusiness and channel strategy professionals benchmark their own mobile banking capabilities, identify good practices, and plan improvements to their mobile banking services.

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