Banks Miss Opportunities with Mass Affluent Newcomers to Canada

Banks Miss Opportunities with Mass Affluent Newcomers to Canada

(Toronto, ON. December 5, 2018) DALBAR Inc. announced the release of its 2018 Newcomers to
Canada: Retail Branch Experience study. A follow-up to an earlier 2014 Newcomers study, this year’s
study was undertaken to identify trends and best practices in retail branch experiences for
Newcomers to Canada with mass affluent backgrounds. Seven Canadian banks were tested, BMO,
CIBC, RBC, Scotiabank, TD, HSBC, and National Bank. Newcomers were required to open a chequing
account and apply for a credit card, two important banking products to own upon arriving in Canada.
DALBAR found no clear winners amongst the seven banks. Similar to the previous study, bank
representatives remained reactive […] Read more