Personal Investor: How does your mobile bank measure up?

As banks work to fortify their cybersecurity defences amidst a growing number of data breaches, they are also exploring the promise of so-called "open banking," a concept that could finally disrupt the staid financial services industry. A mobile bank app splash screen is shown against a backdrop of lights from bank headquarters in Toronto's Financial District Thursday, Nov. 29, 2017. , THE CANADIAN PRESS/Graeme Roy

Dale Jackson

Personal Finance Columnist, Payback Time

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Mobile banking has come a long way over the past two decades. A new generation of tech-friendly customers has set the bar high and it seems the banking industry is delivering.

Each year Surviscor runs tests on each bank through its simulated program to assess how they measure up in terms of the services they offer, usability, results and support. This year Bank of Nova Scotia stepped up and took the top spot over Canadian Imperial Bank of Commerce and National Bank.

Credit unions usually lag the bigger banks, but Saskatchewan’s Conexus Credit Union made it to the top 10 along with B.C.-based Coast Capital Savings.

Bank of Montreal improved the most, moving up six spots but still lagged in ninth place.

TD Canada Trust – once a pioneer in mobile banking – slid four spots to 17th place.

Here’s how the banks ranked in Surviscor’s report:

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