Twelve Years Proud: Tangerine Bank achieves the highest customer satisfaction score among midsize banks in the J.D. Power 2023 Canada Retail Banking Satisfaction Study.
TORONTO, Oct. 25, 2023 /CNW/ - For the 12th consecutive year, Tangerine Bank topped the J.D. Power 2023 Canada Retail Banking Satisfaction Study, securing the highest score amongst all midsize banks. The win for this year includes Tangerine coming out on top as the most trusted midsize bank and also means that Tangerine is the most awarded bank in client satisfaction among midsized retail banks.
This award celebrates the Bank's unwavering commitment to simplifying banking, helping their clients bank how and when they want, and enabling Canadians to make the most of their hard-earned money.
Tangerine was the only bank in Canada to make year-over-year gains in all categories, widening their lead in overall customer satisfaction by a whopping 14 points!
Tangerine's win is driven by year over year gains in all seven categories including:
- Client trust
- Helping Clients save time and money
- Allowing Clients to bank how and when they want
- Account offerings that meet Client needs
- Digital channels—website, mobile app
"This is the most exciting win Tangerine has had in our 12-year run. To be the only bank to increase our satisfaction score in all seven categories this year—and to specifically be ranked #1 in the Client trust category—is incredible. What makes this award even more meaningful is that it's based on the feedback and experiences of our Clients," says Gillian Riley, President and CEO of Tangerine Bank. "Team Tangerine comes to work every day to make a difference for our Clients and never settles for 'good enough'".
Tangerine attributes the win to a persistent focus on simplification, automation and innovation.
A few highlights:
- Contact Centre improvements: Tangerine strives to exceed our Clients' expectations, and our Contact Centre aims to respond quickly and with clear solutions.
- Helping Clients sleep well: Privacy and security are among Tangerine's highest priorities – all Clients are protected with the Tangerine Security Guarantee.
- Many ways to save: Tangerine has a wide range of products designed to help Clients save including the Tangerine Money-Back Credit Card and a limited time 6.00% Savings rate by simply opening their first eligible Savings Account within 30 days of becoming a Client.*
- Mobile innovation: Tangerine continues to refine and improve its mobile experience, with a focus on improving app speed and introducing new capabilities, making the in-app experience even easier to use.
- Moving our cities forward: In 2023, Tangerine launched partnerships with Bike Share Toronto and BIXI in Montreal, whose programs are designed to help get our busiest cities unstuck.
- Uncomplicated banking: Tangerine provides simplified banking solutions, tools and support -- including no unfair fees, great rates and easy-to-use resources.
The J.D. Power 2023 Canada Retail Banking Satisfaction Study includes responses from 13,960 retail Bank customers in Canada about the qualifying Bank they consider to be their primary financial institution. The study was fielded in two waves in 2023. Find more information about the Study here.
Tangerine Bank is a leading digital Bank that delivers simplified everyday banking to Canadians. With over 2 million Clients and more than $40 billion in total assets, it's one of Canada's leading digital Banks. Tangerine Bank offers banking that's flexible and accessible, products and services that are innovative, fair fees and award-winning Client service. Tangerine Bank is the most awarded midsize Bank by the J.D. Power Canada Retail Banking Satisfaction Study as of 2023. From Savings Accounts to no-fee daily Chequing, Credit Cards, GICs, RSPs, TFSAs, Mortgages, lending products and Investment Funds through its subsidiary, Tangerine Investment Funds Limited, Tangerine Bank has the everyday banking products Canadians need. Through Tangerine Project Forward™, Tangerine is committed to empowering communities through programs and initiatives that inspire self-confidence, leadership, and acceptance in Canadian youth. With over 1,200 employees in Canada, the Bank's presence spans its website and Mobile Banking app to its 24/7 Contact Centres and Toronto-based head office. Tangerine Bank was launched as ING DIRECT Canada in 1997. In 2012 Tangerine was acquired by Scotiabank and operates independently as a wholly-owned subsidiary.
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 modeling capabilities to understand consumer behavior, 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.
Tangerine is a registered trademark of The Bank of Nova Scotia, used under licence.
*Promotional Rate is available on deposits for 5 months and is an annualized rate, calculated daily and paid monthly. Conditions apply. Full Offer Terms and Conditions are available here. Offer may be changed, extended or cancelled without notice.
SOURCE Tangerine
Matt Milne, (647) -679-0488; Claire Tam, (647) 529 9890
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