TORONTO, June 12 /CNW/ - EasyWeb, TD Canada Trust's leading internet banking service, has once again been rated a leader in Canada and among the top banking channels for retail and small business in the Western Hemisphere, according to independent surveys.
TD Canada Trust is the only Canadian bank among the top five in a review of more than 90 North American banks by U.S. based Speers and Associates. And EasyWeb has solidified its web leadership position by ranking first in its Canadian bank peer group by Forrester Research's most recent Online Financial Services Benchmark Report.
These latest results confirm earlier studies which rate EasyWeb as a leader among its peers in popularity and usage as a delivery channel which has experienced explosive growth overall in recent years.
"Clearly, a corner has been turned on the popularity of Internet banking," says Jeff van Duynhoven, vice-president, internet banking and payments. "We've known for some time that once people have tried banking online, they become enthusiasts. Now, a significant proportion of our customer base has made its preference clear. Online banking has now surpassed telephone banking and we believe this rate of adoption will continue to accelerate."
Over 40 percent of TD Canada Trust's chequing account households and 35 percent of its small business customers are registered for internet banking, the highest proportion among major Canadian financial institutions. More than 70 percent of active users take advantage of online bill payment. When added to other electronic banking activities (such as automated bank machine use, debit card purchases and electronic bill payments), this represents over a billion transactions per year, with peak activity sometimes reaching more than 1,000 transactions per second.
EasyWeb's small business banking website stands out for its ease of navigation and consistency with its personal banking features; the availability of online tools and resources for users; and the level of detail available for products, services and options, says van Duynhoven.
"We know that many of our small business customers are also our personal banking customers, so it makes sense to offer consistency across both platforms," says Nick Stitt, vice-president of small business banking. "Our customers tell us they require not only the full range of products and services at competitive prices, but quick and flawless execution-what we call a comfortable banking experience. So that's our focus."
About TD Bank Financial Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Financial Group. In Canada and around the world, TD Bank Financial Group serves more than 13 million customers in three key businesses: personal and commercial banking including TD Canada Trust; wealth management including the global operations of TD Waterhouse; and a leading wholesale bank, TD Securities, operating in a number of locations in key financial centres around the globe. TD Bank Financial Group also ranks among the world's leading on-line financial services firms, with more than 4.5 million on-line customers. TD Bank Financial Group had CDN$322 billion in assets, as of April 30, 2003. The Toronto-Dominion Bank trades on the Toronto and New York Stock Exchanges under the symbol "TD."
For further information: Contact Christa Poole, Corporate and Public Affairs, (416) 308-0177, christa.poole@td.com
