Dale Jackson

Personal Finance Columnist, Payback Time

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The corner bank has come a long way in getting customers out the door and on their computers.

The latest ranking of Canadian online banks by Surviscor highlights just how much customers have come to trust the digital banking experience. Over the past two decades, traditional banks and upstarts have been jockeying to provide the best online experience.

But there’s a dark side to modern digital banking , according to Surviscor founder and president Glenn LaCoste. He says Canadian banks have also become very efficient at implementing artificial intelligence to manipulate customers with the single goal of selling more of their products.   

“They are tracking and analyzing your every move and consequently pushing graphics and messages in your session to get you to think about things you don't have” he said in an email.

One area where online banks are becoming less efficient, according to LaCoste, is banking. He says overall customer satisfaction is poor and competition on fees from the big banks is overhyped.

Regardless, the latest review puts RBC, Scotiabank, CIBC, and BMO at the top. The criteria for the review takes in several factors including overall service, mobile experience, support, and fees.

You can see how the review was done and a complete list of how the banks rank here. You can also rank the banks according to your specific criteria through this online tool, www.scorchoice.ca.