Tangerine Bank Celebrates 10 Years of Consecutive Wins among midsize banks in the J.D. Power Canada Retail Banking Customer Satisfaction Study

TORONTO, Ontario – May 11, 2021 – For the 10th year in a row, Tangerine Bank has topped the charts in customer satisfaction among all mid-sized banks as part of the J.D. Power 2021 Canada Retail Banking Satisfaction Study – you might as well call us, Ten-gerine!

The J.D. Power Study measures customer satisfaction with Canadian Banks, based on responses from thousands of banking customers across the country. The award signifies a company’s commitment to putting customers first – which reflects Tangerine’s Client-first approach. Tangerine also took top marks as the most trusted midsize retail bank and scored the highest in the following categories:

  • Channel Activities

  • Convenience

  • Communication & Advice

  • Products & Fees

  • New Account Opening

“We are so proud to see that our Clients recognize, and trust, our commitment to them, first and foremost,” says Gillian Riley, President and CEO, Tangerine Bank. “From the very beginning, we have always put Clients first – creating value added solutions combined with simple and easy digital banking experiences. As we continue to grow, we’re focused on building real-life financial solutions to save Canadians time and make their lives easier.”

Tangerine recognizes that Clients have enough things to worry about, especially after a difficult year throughout the pandemic. The way they interact with their bank may have shifted with a need for simple and easy access across digital channels and ongoing communications  – as one of Canada’s leading digital banks, we’re making everyday banking simple. We’re committed to continuously improving to meet more of our Clients’ needs.

Here are some ways we’re working hard to raise the bar:

We listen to our Clients - Our commitment to our Clients means listening to what they have to say and making improvements. Our launch of Visa* Debit came as a result of Client feedback, and now 56 per cent of Clients who have their primary Chequing Account with us use this feature today. The Global ETF portfolios launched by Tangerine Investments are a convenient way to invest with automatic rebalancing and pre authorized contribution features, and they can be set up in under 10 minutes.

Simple and easy to use - Our new Client sign-up launched in the summer of 2020 was a first in Canada footnote i with end-to-end digital enrolment using a selfie and photo ID. This easy-to-use, mobile-only Client sign-up was especially useful for Clients during the pandemic since enrolment can be entirely from home. Now more than 42 per cent of new Clients sign up to be a Tangerine Client through our Mobile Banking App, up from four per cent last year.

Real impact - At Tangerine, community is part of our DNA. Our Toronto Raptors partnership allows us to engage with 13 million fans from coast-to-coast and provides a true sense of pride for Tangerine and our Clients. We’re always looking to make meaningful impact in our communities, and we support initiatives that truly make a difference as part of Tangerine Project Forward trademark . We’re proud to work alongside amazing organizations like Kids Help Phone, Youth Without Shelter, Lady Ballers Camp and more, who provide the tools, resources, and services to empower Canada’s youth.

To learn more, watch the video here, opens in a new tab. For J.D. Power 2021 award information, please visit jdpower.com/awards, opens in a new tab.

About J.D. Power

J.D. Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world's leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies.

J.D. Power is headquartered in Troy, Mich., and has offices in North America, Europe and Asia Pacific. To learn more about the company’s business offerings, visit JDPower.com/business, opens in a new tab. The J.D. Power auto shopping tool can be found at JDPower.com, opens in a new tab.

About Tangerine Bank

Tangerine Bank is a digital bank that delivers simplified everyday banking to Canadians. With over 2 million Clients and close to $40 billion in total assets, it’s one of Canada’s leading digital banks. Tangerine Bank offers banking that’s flexible and accessible, products and services that are innovative, fair fees and award-winning Client service. From Savings Accounts to no-fee daily Chequing, Credit Cards, G I Seas, R S Peas, T F S A's, Mortgages, lending products and Investment Funds through its subsidiary, Tangerine Investment Funds Limited, Tangerine Bank has the everyday banking products Canadians need. Through Tangerine Project Forward™, Tangerine is committed to empowering communities through programs and initiatives that inspire self-confidence, leadership and acceptance in Canadian youth. With over 1,000 employees in Canada, the bank’s presence spans its website and Mobile Banking app to its 24/7 Contact Centres and Toronto-based head office. Tangerine Bank was launched as I N G Direct Canada in 1997. In 2012 Tangerine was acquired by Scotiabank, and operates independently as a wholly-owned subsidiary.

The Tangerine Investment Funds are managed by Tangerine Investment Management Inc. and are available by opening a mutual fund account with Tangerine Investment Funds Limited (“Tangerine Investments”). Tangerine Funds are proprietary and sold only by Tangerine Investments. These firms are both wholly owned subsidiaries of Tangerine Bank.

Commissions, trailing commissions, management fees and expenses may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed or insured by the Canada Deposit Insurance Corporation or any other government deposit insurer, their values change frequently and past performance may not be repeated.

Tangerine Project Forward is a trademark of The Bank of Nova Scotia.

footnote i Among Canadian Schedule I Banks as of May 28, 2020.