| 2005 Canadian Online Corporate and Commercial Banking Review |
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| The Canadian Online Corporate and Commercial banking Review was conducted from July to September 2005. TJL Interactive approached all major firms to ask for industry participation; however, many of the firms refused to participate. The review was conducted analyzing all available material including online marketing material, print marketing as well as various branch visits. |
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| Commercial & Corporate Banking is a growing and prosperous business in Canada. The traditional services of payroll, government remittances and money management have been joined with more sophisticated services as Import/Export services, foreign exchange and capital market investing. |
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| The study discovered the non-existence of any pure corporate online banking offerings. The analysis discovered that each company has some online offerings; however, they are packaged under terms like Commercial Banking, Mid-term Enterprises and some under their Small Business platforms. Pure Commercial & Corporate Banking relationships require ‘sit-down’ interaction and appear to offer some online functionality along with traditional Commercial & Corporate Banking software and systems. This study focuses on all available online features offered in either corporate or commercial banking. |
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| TJL Interactive determined that Scotiabank offers the best online corporate and commercial banking product through ScotiaConnect. The review analysed eight firms from a variety of categories. In each case, TJL Interactive performed the analysis by developing features and functionality binary questions for the various categories. |
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| The report was produced and included the following information based upon the findings: |
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- Executive Summary, The Process and Top Findings
- Quartile Rankings and Company Overviews
- Category Overviews and Best Practice Information
- Access; Administration and Polices
- Design Features and Customization
- Customer Interaction and Relationship Services
- Online Services
- Account Information and Features
- Help and Education
- Industry Next Steps including Recommendations
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| Overall Results |
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1st Quartile Firms:
- Scotiabank - ScotiaConnect
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2nd Quartile Firms:
- BMO - Business Banking
- National Bank Of Canada - Internet Banking Solutions
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3rd Quartile Firms:
- Desjardins - AccesD Affaires
- RBC Express
- TD Commercial Banking
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4th Quartile Firms:
- HSBC - Business Internet Banking
- CIBC - Business Banking
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Scotia |
BMO |
National |
Desjardins |
TD |
RBC |
HSBC |
CIBC |
| OVERALL |
Q1 |
Q2 |
Q2 |
Q3 |
Q3 |
Q3 |
Q4 |
Q4 |
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| Access and Policies |
Q1 |
Q2 |
Q3 |
Q1 |
Q2 |
Q1 |
Q2 |
Q4 |
| Design Features |
Q3 |
Q3 |
Q1 |
Q1 |
Q2 |
Q2 |
Q3 |
Q4 |
| Customer and Relation |
Q1 |
Q4 |
Q1 |
Q2 |
Q4 |
Q2 |
Q3 |
Q4 |
| Online Services |
Q1 |
Q1 |
Q2 |
Q3 |
Q3 |
Q4 |
Q4 |
Q2 |
| Account Information |
Q1 |
Q1 |
Q3 |
Q4 |
Q2 |
Q3 |
Q4 |
Q4 |
| Help and Education |
Q1 |
Q3 |
Q2 |
Q2 |
Q3 |
Q4 |
Q3 |
Q3 |
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| Results are based on Quartile standings. Q1 represents 1st Quartile |
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| 1st Quartile (Q1): Represents firms whose offerings consistently outperform their competitors and are considered premier offerings in their online vertical. These firms demonstrate leading edge online functionality. |
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| 2nd Quartile (Q2): Represents firms whose offerings demonstrate better than average results in their online vertical. These firms demonstrate some Q1 functionality; however, are missing some key features. |
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| 3rd Quartile (Q3): Represents firms whose offerings demonstrate average results in their online vertical. These firms may demonstrate some Q1 and Q2 functionality; however, are missing many key features. |
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| 4th Quartile (Q4): Represents firms whose offerings demonstrate below average to non-existent results in their online vertical. In general, these firms do not demonstrate any key functionality and features. |