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Mobile banking reports name TD industry leader in digital customer experiences
TD earns top spot in digital experience categories among Canadian financial institutions according to three separate industry reports
TORONTO, July 27, 2021 /CNW/ - A series of new market reports position TD as an industry leader in digital banking with its mobile app and website earning top marks when it comes to digital customer engagement and experience.
Three reports released this month by market research firms, Sensor Tower, Apptopia, and Similarweb showed that the TD mobile app is the most-used and most-downloaded banking application in Canada and delivers the highest customer satisfaction rate relative to its competitors. The reports also show that the TD website draws the most traffic among Canadian banks with the highest levels of engagement from visitors.
"We are always focused on helping to provide our customers with highly personalized experiences, no matter how they choose to interact with us," said Rizwan Khalfan, Chief Digital and Payments Officer at TD Bank Group. "As our customers faced different challenges over the last year and a half, we have been working to provide them with a user experience to help inform, enrich and support their financial well-being."
According to Sensor Tower, a provider of market intelligence on the global digital economy, "TD is Canada's largest mobile bank and has the most engaged user base." In its analysis of Canadian mobile banking for the first three months of the year, the firm found that TD led the way in mobile app downloads, monthly active users and average time spent in app. 1
Apptopia, a real-time competitive intelligence platform that supports app performance metrics for major app stores, found that the TD app has the most positive user sentiment based on customer reviews among Canada's largest banks.2 Their recently published Q2 2021 mobile banking report noted this positive sentiment signals "TD as a leader in mobile customer experience for the Canadian mobile banking market based on the voice of the customer."
Similarweb, a leading platform for understanding online behaviour, also ranked TD as number one for online engagement and mobile banking in Canada. Its insights indicated that TD outperformed peers across all desktop and mobile web engagement metrics including monthly visits, visit duration, and page visits. Further, Similarweb ranked TD as the leader among Big 5 Canadian bank apps for highest install penetration and most monthly active users.3
These reports follow February 2020 analysis from App Annie, Comscore and Novantas/Ipiphany, which showed that TD ranked highest in a variety of key performance categories, including ease of use, customer service and engagement.
1 The State of Mobile Banking in Canada 2021: An Analysis of Mobile Banking in Canada and Other Fintech App Trends, Sensor Tower (July 2021). Sensor Tower mobile metrics are based on the 3-month period ending March 2021.
2 Canadian Mobile Banking Market Report, Apptopia (July 2021). Apptopia user sentiment on customer reviews are calculated over a 3-month period ending April 2021.
3 Competitor Landscape: Canadian Digital Banking, Similarweb (July 2021). Similarweb desktop and mobile web engagement metrics are based on January – May 2021 time frame and mobile metrics for the 12-month period ending December 2020.
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the fifth largest bank in North America by assets and serves over 26 million customers in three key businesses operating in a number of locations in financial centres around the globe: Canadian Retail, including TD Canada Trust, TD Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD Insurance; U.S. Retail, including TD Bank, America's Most Convenient Bank®, TD Auto Finance U.S., TD Wealth (U.S.), and an investment in The Charles Schwab Corporation; and Wholesale Banking, including TD Securities. TD also ranks among the world's leading online financial services firms, with more than 15 million active online and mobile customers. TD had CDN$1.7 trillion in assets on April 30, 2021. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.
SOURCE TD Bank Group
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