Customer satisfaction falling flat for digital banking experiences

The massive investments made by banks in mobile offerings have yet to show dividends in terms of elevating customer satisfaction

Customer satisfaction falling flat for digital banking experiencesCustomer satisfaction with retail banks in Canada was high before the outbreak of COVID-19, but satisfaction is falling flat in the critical area of digital banking experiences, according to the J.D. Power 2020 Canada Retail Banking Satisfaction Study. “Canadian banks have seen, for the most part, significant improvements in customer satisfaction related to products and…

Mortgage deferrals in Canada reach half a million

The cash flow freed up for Canadians from the deferrals completed to date is roughly $663 million per month, or nearly $2 billion per quarter

Mortgage deferrals in Canada reach half a millionClose to 500,000 requests for mortgage deferrals or skip a payment have already been completed or are in process since Canada's banks announce a mortgage deferral program over two weeks ago because of the COVID-19 (coronavirus) pandemic. "Canada's banks are standing by Canadians and have stepped up to help our country work through these challenging times,"…

Non-bank mortgages on the rise in Canada

The total number of extended residential mortgages in Canada increased during the second quarter to 166,482—an increase of 34.1 per cent

Non-bank mortgages on the rise in CanadaThe value of residential mortgage loans extended by non-bank lenders grew by 25.4 per cent to $41.1 billion in the second quarter of 2019, according to a report released Tuesday by Statistics Canada. The federal agency said the total number of extended residential mortgages also increased during the quarter to 166,482—an increase of 34.1 per…