TORONTO, Feb. 18, 2020 /CNW/ - BMO Financial Group 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. The study analyzes responses from thousands of retail bank customers across Canada.
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.
"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."
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: Through articles and webinars from industry leaders focused on helping customers make smarter investment decisions.
- Online advice: To help our customers determine the best investment options based on their goals and risk tolerance.
The 2020 Canada Retail Banking Advice Satisfaction Study includes responses from 1,685 retail bank customers in Canada who received any advice/guidance from their primary bank regarding relevant products and services or other financial needs in the past 12 months. The study was fielded in October-November 2019.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $852 billion as of October 31, 2019, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
About J.D. Power
J.D. Power is a marketing, consumer intelligence, and data and analytics company that helps its clients measure, understand, and improve the key performance metrics that drive their growth and profitability. J.D. Power's industry benchmarks, unique data and analytics platform and reputation for independence and credibility has established the company as one of the world's most well-known and trusted providers of Voice of the Customer insights. Established in 1968, J.D. Power is headquartered in Costa Mesa, California, and has offices in North/South America, Asia Pacific, and Europe. For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com.
SOURCE BMO Financial Group