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TD Recognized as Market Leader in Digital Customer Engagement by Industry Banking Reports
TD continues to lead in key digital banking categories among Canadian banks according to three separate industry reports.
TORONTO, June 28, 2022 /CNW/ - New reports from data.ai, Comscore, and Touchpoint Group/Curinos, place TD Bank Group (TD) in the top spots in Canada across several digital consumer, engagement, adoption and experience categories. With an increased number of Canadians using digital channels to meet their banking needs, TD's recognition as a leader in these key categories further validates the Bank's continued commitment to providing innovative digital solutions for its customers.
"Developing a deeper understanding of our customer needs and preferences, especially in this current environment, has been critical," says Rizwan Khalfan, Chief Digital and Payments Officer, TD Bank Group. "We are focused on meeting the evolving needs of our customers and continuing to deliver personal and connected experiences that help them bank when and how they want."
According to data.ai (formerly App Annie), a Unified Data AI company, the TD app is the top banking app among Canadian banks1, holding the first spot in a number of key mobile categories, including:
- Based on reports from data.ai, the TD app is the Most Used Canadian Retail Banking app as measured by the number of average monthly active users (MAUs). In addition, TD has held the top spot for MAUs for the past eight years. The TD app is also the Most Downloaded Retail Banking app in Canada and has been the industry leader in new monthly downloads based on data collected by data.ai for 28 consecutive months between September 2019 – December 2021.
- TD was also deemed by data.ai to be a market leader among the Big 5 Canadian bank apps for mobile user "stickiness" as determined by open rate and average active days, and "audience attention" which is determined by tracking both average MAUs and average time per user.
According to Comscore, a global media measurement and analytics firm, TD is the #1 digital bank in Canada with the highest digital reach among adult Canadians.2 Further, Comscore noted TD's digital leadership across both online and mobile properties in Canada, leading in the Canadian Digital banking space in a number of areas, including:
- Highest web-traffic among Canadian banks for unique visitors.3
- Ranked #1 for both unique visitors and mobile web engagement (e.g. total time spent).4
According to Mobile Customer Experience Analytics, a partnership between Touchpoint Group and Curinos, TD is the highest rated app among Canadian Big 5 banks based on engaged customer feedback during the past 12 months.5 During the most recent 6-month period, the TD app outperformed apps from other leading Canadian banks in a number of areas.6 TD customers identified the following key attributes of the TD app:
- 'Ease of use;' the app is 'speedy' and 'simple to navigate'
- Strong overall customer satisfaction
- Offers a positive banking experience with services such as mobile cheque deposit
"As a customer-focused organization, we're always looking to bring innovative experiences forward across our digital platforms. We continue to work on creating new capabilities and keeping the digital customer experience at the core of our thinking," says Khalfan.
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 more than 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$1.8 trillion in assets on April 30, 2022. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.
SOURCE TD Bank Group
1 data.ai Usage Intelligence: Based on January - December 2021 time frame. Monthly Active Users (MAU) data for both Android and iOS for the category and market was first collected in 2014. Metrics for new downloads across Android and iOS phones based on data collected between September 2019 – December 2021 time frame.
2 Comscore Media Metrix Multi-Platform, Canada: Comscore digital reach metrics based on 3-month average ending December 2021.
3 Comscore Media Metrix Multi-Platform, Canada: Comscore web traffic metrics based on 12-month average ending December 2021.
4 Comscore Media Mobile Metrix, Canada: Comscore unique visitors and engagement metrics based on 12-month average ending December 2021.
5 Mobile Customer Experience Analytics: Dataset of 19,469 user reviews from both iOS and Android app stores between April 2021 – March 2022. Engaged Customers are defined as those users providing both a score and a comment in their app feedback.
6 Mobile Customer Experience Analytics: Functionality review for the period between October 2021 – March 2022.
SOURCE TD Bank Group
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