BMO Ranks First in Customer Satisfaction with Online Banking in the J.D. Power 2023 Canada Online Banking Satisfaction Study

TORONTO, June 8, 2023 /CNW/ - BMO has received the highest score in the J.D. Power 2023 Canada Online Banking Satisfaction Study. The study analyzes feedback from thousands of online banking customers across Canada and awarded BMO top marks in four key categories:

1. Information/content
2. Navigation
3. Speed
4. Visual appeal

"It's a tremendous achievement and honour for BMO to be ranked the #1 online banking experience in Canada," said Ernie Johannson, Group Head, North American Personal and Business Banking, BMO. "We're committed to meeting our customers where they are with human and digital experiences that help them make real financial progress."

"The majority of Canadians rely on digital to manage their day-to-day finances[1] and we continue to focus on meeting their evolving expectations with leading digital money management experiences," said Mathew Mehrotra, Chief Digital Officer, BMO. "This recognition is another example of BMO's digital-first strategy in action and a testament to our customer-centric experience and approach."

Earning this top ranking is a testament of BMO's Digital First strategy, and builds on the bank's strong track record of industry recognitions. In April 2023, the bank was recognized with two Celent Model Bank Awards[2], a leading research and advisory firm focused on technology for global financial institutions. In October 2022, BMO was recognized as the overall leader in The Forrester Digital Experience Review™: Canadian Mobile Banking Apps, Q4 2022[3].

BMO continues to pave the way in harnessing the potential of emerging technologies to drive customer and business value. Meeting customers' evolving needs and expectations have guided the bank's innovation efforts, including launches of features such as BMO's Pre-Authorized Payments Manager, Same Day Grace feature, BMO Insights, BMO CashTrack and Selfie ID.

For more information on BMO Personal Banking, visit www.bmo.com/main/personal.

For more information on J.D. Power, visit www.jdpower.com/awards.

About BMO Financial Group

BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.25 trillion as of April 30, 2023. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to over 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future and inclusive society.

About J.D. Power

J.D. Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modelling capabilities to understand consumer behaviour, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world's leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies.

J.D. Power has offices in North America, Europe and Asia Pacific. To learn more about the company's business offerings, visit JDPower.com/business.

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¹ According to BMO's Digital Banking Survey (April 2023), the majority (81 per cent) of Canadians are using digital banking tools for all or most of their banking.

² https://www.celent.com/awards/model-bank/winners

³ https://newsroom.bmo.com/2022-10-19-BMO-Recognized-as-Overall-Leader-in-Canadian-Mobile-Banking-Apps-Digital-Experience-Review-TM

SOURCE BMO Financial Group

Media Contacts: Anke Suwanda, [email protected], [phone]