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• May 10, 2021

TD has taken the top spot across a number of key categories in the Canada Mobile Banking 2021 Benchmark rankings by Insider Intelligence. This inaugural study, which is based on responses to an online consumer survey of 1,187 Canadians, highlights some of the most valued mobile attributes identified by consumers.

Insider Intelligence ranked TD #1 in Canada for Customer Service, Security and Controls, and Transfers, (customers' day-to-day ability to send or receive money and make payments, among mobile banking apps). The rankings also provided additional analysis about the category wins, including:

  • Customer Service: TD led the Customer Service category with a robust set of in-demand tools that provide customers with relevant and timely mobile functionality, including using search tools to navigate apps, authenticating customers via the app, supporting customers' financial well-being with educational resources, and using a conversational AI assistant.
  • Security and Controls: TD tied for top spot in this category with a superior set of in-demand card controls, including putting a temporary hold on a debit or credit card and ordering a replacement card.
  • Transfers: TD demonstrated strong leadership in the Transfers category by offering in-demand features, including e-Transfer functionality, and the ability to edit upcoming payments, in addition to the ability to send money to individuals in other countries and place an order for foreign currency.

“As we’ve enhanced existing capabilities and introduced new services, we’ve kept the customer experience at the core of our thinking,” said Rizwan Khalfan, Chief Digital and Payments Officer at TD. “We’re focused on meeting our customers’ banking needs today and enhancing the platforms where we engage and connect with them in anticipation of how their needs will evolve tomorrow.”

Market Leadership

According to App Annie, TD is ranked #1 in customer adoption, engagement and downloads among the country's top retail banking apps in Canada. In the U.S. marketplace, TD’s mobile banking app is top 10 among the largest U.S. banks for average monthly mobile active users, as well as top three positioning for key engagement metrics.¹ App Annie also recognized the TD Canada app as one of Canada's "breakout" finance apps in their State of Mobile 2021 Report. TD was the only Canadian bank ranked among the top 10 traditional financial publishers across North America for App Annie's Level Up Top Publisher awards for 2021.

¹Provided by App Annie Intelligence for the period between January 2020 - December 2020. Customer adoption and engagement measured by average smartphone monthly active users and average daily open rate and average monthly sessions per user on Android phones. Metrics based on top 10 retail banking apps by average smartphone MAUs (Mobile Active Users) excluding credit unions, third-party banking apps, fintechs and apps primarily dedicated to credit card providers. Key U.S. engagement metrics measured by average daily smartphone open rate and average smartphone monthly sessions per user.

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