Category: Canada

Canada, Payments, US

Obopay P2P payments, and purchases

Colin Henderson

The third party payments space is heating up, with competition even amongst the newcomers.  This one is in direct competition with Paypal mobile, as well as competing with the US Nacha credit push initiative, and the Canadian Certapay Interac Debit. Relevance to Bankwatch:  Another example of third party disintermediation of money movement.  In plain english we (Banks) are losing control of how customers move their money, and we will eventually lose control of their balances as a result.  Finextra California-based start-up Obopay has launched a mobile payments service that allows customers to make person-to-person fund transfers and using their hand … Continue reading Obopay P2P payments, and purchases

Canada

Forrester Research release online banking ranking – Canada

Colin Henderson

Carrick of the Globe and Mail reviews the Forrester report. Its not entirely clear to me how he got to "unimpressive", however there is no doubt that Banks' still have room to do more with online banking to meet the potential of the channel. Of course, they have been balancing other priorities as they build out this new channel, however this report looks only at this channel.

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Canada, US

World internet usage – North America flat but shifting to wireless

Colin Henderson

No big surprises in following piece from Cnet  … North America doesn't have much more room to get more online statistically, so how North Americans access is evolving towards wireless.

Relevance to Bankwatch:
Online tenure is a key determinant to online banking confidence and usage, so expect another spike in North American online banking usage in 2 years (2008).

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Canada

Ranking Canadian Banks’ Cross-Sell Potential – Forrester May 2005

Colin Henderson

Many Canadians will consider their bank for additional deposit, credit, and investment products, but not all banks’ cross-sell opportunities are created equal. Scotiabank leads the large Canadian banks in cross-sell potential. Higher customer advocacy scores from their customers help distinguish the leaders. To improve advocacy ratings and their cross-sell success, Canadian banks should make operational improvements (especially with cross-channel interactions) and revamp their sales approaches.

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Canada

Canadian Bank Public Web Site Rankings – Forrester – Jan 2006

Colin Henderson

Forrester evaluated the seven largest Canadian banks (Bank of Montreal, CIBC, Desjardins, National Bank of Canada, RBC Royal Bank, Scotiabank, and TD Canada Trust) using its Competitive Site Assessment (CSA) methodology. The analysis, which focused on the public section of the Web sites, covers 21 criteria across five categories: Web site navigation, Web site presentation, contact methods, research functionality and content, and application functionality and content. The highest ranking bank Site, TD Canada Trust, scored 74 out of a possible 100 on the assessment. While the analysis uncovered many best practices, the bank sites ran into the most problems meeting the requirements for good application functionality and content.

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Canada1 Comment

Phase 5 Releases Competitive Online Banking Report – August 2005

Colin Henderson

August 15, 2005 – A new survey of Canadian consumers who bank on the Internet shows that TD Canada Trust and Scotia Bank lead competitors in terms of online banking customer satisfaction.

The survey of 2,019 Canadians by Phase 5 Research showed that customers of TD Canada Trust and Scotiabank were more likely than any of the other “Big 5” Banks’ to be very satisfied with their online banking service. TD Canada Trust’s EasyWeb and Scotiabank’s ScotiaOnline customers were also more likely to feel that their online banking service provides excellent value.

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Canada

Consumers and Financial Institutions. A Public Perspective on the Industry

Colin Henderson

Banking Survey

The way in which consumers use financial services, is undergoing significant change. The growth of electronic banking, including the use of Automated Teller Machines (ATMs), debit cards, telephone and the Internet for banking transactions is influencing how consumers conduct their day-to-day financial transactions. It has also affected how consumers view financial institutions.
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