Canadian Personal & Commercial Banking - Financial Results
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Advancing our Digital First strategy
Continuing to deliver on our
Digital First agenda
Enhanced the BMO Business Express
(BBX) experience in Canada,
including national launch of account
opening / onboarding journeys and
introduction of specialty lending
capabilities for businesses owned by
Black and Indigenous Entrepreneurs
Launched BMO V-PAYO in the U.S.,
a corporate card offering that positions
us to gain new client relationships,
drive revenue and increase our
competitive advantage with payment
solutions
Continued to modernize the
Canadian digital payment journey
and improve the customer experience,
including platform upgrades,
enhanced fraud detection capabilities
and increased transaction limits
Driving digital engagement
Active Digital Users, Retail (000)¹
3,546
+7%
3,801
Q3'22
Q3'23
Self-serve
Transaction (%)²
Digital Sales
Growth (%)³
91%
+48%
Active Digital Users, Commercial Banking (000)4
238
+8%
Recognized for industry leadership
Named Overall Leader in the 2023
Javelin Canadian Mobile Banking
Study, recognized for Financial Fitness,
Money Movement, and Account Opening
Ranked first in customer satisfaction
with online banking in the JD Power5
2023 Canada Online Banking
Satisfaction Study
Ranked #1 in Account Management,
Digital Money Management, and Alerts
in the 2023 Insider Intelligence
Canadian Mobile Banking Emerging
Features Benchmark
Named one of the Best Workplaces for
Innovators by Fast Company, the only
financial institution among the top 30
E
javelin
FAST COMPANY
IDPOWER
256
CANADIAN
DIGITAL BANKING
SCORECARD
INSIDER
INTELLIGENCE
AWARD
Q3'22
Q3'23
Data does not include Bank of the West
1 Active digital users is number of retail deposit customers in North America that logged into online or mobile in the last 90 days
2023
2 Self-serve transactions are transactions that occur in online, mobile, ATM, telephone banking; May 2023 - July 2023
3 Digital sales is 12 month rolling average for the 12 months preceding the end of the fiscal quarter and include chequing, savings, credit card, loans, mortgage, overdraft (CAD) and CD, MM (US); % growth is Q3'23
over Q3'22
4 OLBB clients in North American commercial, corporate and business banking
5 For more information, refer to www.jdpower.com/business
BMOM
BEST
WORKPLACES FOR
INNOVATORS
2023
Strategic Highlights ⚫ August 29, 2023
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