Bank of Montreal 2013 Annual Report Download - page 36

Canadian Personal and Commercial Banking
Canadian Personal and Commercial Banking serves more than seven million
personal and commercial banking customers, who do business with us through
an integrated national network of BMO Bank of Montreal branches, automated
banking machines, telephone, mobile and online banking, along with the
expertise of our mortgage specialists and financial planners.
Frank Techar
Chief Operating Officer
BMO Financial Group
Lines of Business
Personal Banking provides financial solutions for everyday banking,
financing, investing, credit cards and creditor insurance needs. We serve
approximately one quarter of Canadian households.
Strengths and Value Drivers
‰ Strong competitive position in commercial banking, reflected in our
number two ranking in market share for business loans of $5 million
and less.
‰ Highly experienced team of specialists in mid-market commercial
banking, offering integrated products and services that are driving
high customer loyalty scores.
‰ Strong and consistently applied credit risk management practices that
provide customers with reliable access to appropriate financing sol-
utions in all economic conditions.
‰ Large, loyal customer base supported by strong and differentiated
brand.
‰ Largest MasterCard® issuer in Canada as measured by transaction
volumes, and one of the top commercial card issuers in North
America.
Strategy and Key Priorities
We aim to succeed in the Canadian market by delivering a customer
experience differentiated through guidance across all channels and by
leveraging our highly productive distribution network.
Enhance the customer experience to create a differentiated
position in the Canadian market
2013 Achievements
‰ Continued to maintain strong customer loyalty scores as measured by
Net Promoter Score. Implemented an additional measure of in-branch
customer experience that provides detailed and timely feedback to
improve the customer relationship.
‰ For the second consecutive year, BMO received a prestigious Celent
Model Bank Award. BMO received the 2013 Model Bank Impact Award
for BMO Bank by Appointment, and was the first Canadian bank to
offer real-time appointment booking for both online and mobile
customers. Nearly 40,000 appointments were booked in 2013 using
this capability. Current online sales levels are equivalent to sales at
90 branches.
‰ Maintained strong employee engagement and commitment to the
customer experience. In the annual employee survey, employees
indicated that they believe customer experience is a top priority
for them.
Commercial Banking provides our small business, medium-sized
enterprise and mid-market banking customers with a broad suite of
integrated commercial and capital markets products, as well as financial
advisory services.
2014 Focus
‰ Continue to build capabilities to provide personalized advice to our
customers through the channel of their choice, including enhance-
ments to online and mobile banking.
Strengthen relationships with our Personal Banking customers
through innovative product offerings and exceptional service
2013 Achievements
‰ Our investment campaign was a great success. Mutual funds growth
of 15% was our highest since 2010.
‰ Developed segment-specific campaigns and offers targeted at new
Canadians and the military community.
‰ The continued success of our Five-Year Fixed 25-year amortization
mortgage product is building a foundation for new and expanded
long-term customer relationships.
‰ Our leads management engine continues to provide our customers
with relevant and timely offers and services, increasing share of
wallet and positively impacting revenue growth.
2014 Focus
‰ Target personal banking growth in under-penetrated customer
segments and products to grow share of wallet and gain new
customers.
Establish the most productive distribution network in the country
2013 Achievements
‰ Implemented system, organization and process changes that allow
front-line employees to spend more time acquiring new customers
and strengthening existing relationships. Enhancements include a
more efficient personal loan origination system, lean mortgage appli-
cation and approval processes and simplified commercial lending
processes.
‰ Opened or upgraded 86 branches and added more than 300 ABMs.
‰ Held efficiency ratio at a stable level in a low revenue growth
environment by tightly managing expenses.
2014 Focus
‰ Continue the redesign of our core processes and implement new
technologies to improve productivity and enhance the customer
experience.
MD&A
BMO Financial Group 196th Annual Report 2013 47