BMO InvestorLine and CIBC Named Top Canadian Customer Efficient Firms in 2007 by Surviscor

    OAKVILLE, ON, Feb. 22 /CNW/ - - BMO InvestorLine and
CIBC online banking won top honours as the premier online financial services
firms in terms of email responsiveness for Canadians, according to the newly
released 2007 Surviscor Customer Efficiency Ratings (CERs). BMO InvestorLine
took top honours in Canadian online discount brokerage for the 12-month period
ending December 31, 2007. In addition, BMO InvestorLine was the only firm in
Canada to receive the Platinum designation awarded to firms that average a
response time of less than 12 hours. CIBC was the outright winner in Canadian
online banking. The analysis indicated a major gap between the top and bottom
firms in terms of hours to respond to general email enquiries. The online
banking results were affected by poor results by a few credit unions and some
independent banks.
    The Customer Efficiency Ratings (CERs) reflect the level of email service
provided by online firms. "Email responsiveness is an integral part of the
online experience for users and it should not be taken lightly by consumers or
firms" said Glenn LaCoste, Surviscor President. The CER measured the firm's
responsiveness to a 12-month series of emails as compared to other online
firms in the industry. "Increasingly more of our clients prefer to communicate
with us by email - often through MyLink, our secure channel. Either way, it is
important that we are responsive and provide them with the information they
need in a timely and accurate way. We are proud to be rewarded top honours in
this category." said Connie Stefankiewicz, President and CEO of BMO
InvestorLine. Surviscor tracks all correspondence with the firm, the time to
respond and the validity of the answer provided. The proprietary CER is then
determined using a peer-based formula within the industry.
    Surviscor is Canada's premier online services rating and scorecarding
firm, and has been collecting email data for nearly two years. The 2007
overall CER results continue to be puzzling. "We are shocked with the lack of
attention of some firms to the emails they receive. The online discount
brokerage industry has traditionally performed better than online banking
firms; however, the larger banks with the odd exception, perform adequately."
added LaCoste. "Can you imagine having to wait 5 days, on average, for a
simple response?" The average response time for online discount brokerage was
2.85 days, and online retail banking was 5.10 days. The top ten financial
services firms recorded an average of 0.81 days to respond, considered gold
standard at Surviscor. Surviscor capped the response time at 10 days in 2007
and has reduced the cap to 5 days for 2008's analysis.

    More information is available on the Surviscor website,

    About Surviscor

    Surviscor Inc. is a Canadian firm located in the Toronto area that
analyzes and ranks Canadian online services offered to retail consumers.
Surviscor produces seasonal feature and functionality scorCards(TM) and email
responsiveness studies. All studies and analysis' serve as industry benchmarks
for consumers and firms by identifying firms considered to be leading-edge
solution providers and those whose online offerings are well below industry

For further information:

For further information: on the report and purchasing of the data: Glenn
LaCoste, President, Surviscor, (905) 593-9364,,

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890