TD Bank ranked highest in small business banking in the southern region, according to the 2019 J.D. Power Small Business Banking Satisfaction Study.
TD Bank’s overall small business customer satisfaction score reached 854 points for 2019, reflecting a 25-point gain over 2018.
Chase ranked second in the report, with Regions Bank Third.
This is the second time the bank captured this award, with the first in 2017.
J.D. Power measured customer satisfaction in several categories including channel activities, relationship with account manager, convenience, products and fees to determine rankings. According to the study, TD Bank placed first in three categories:
- Communication and advice
- Convenience
- Channel activities.
“TD Bank truly believes in small businesses, and we continue to invest in how we deliver products and services to this key customer base,” said Jay DesMarteau, Head of Commercial Distribution, TD Bank. “In 2019 alone, we expanded our small business specialists group to complement our store network; introduced a new web and mobile platform for small business banking; and launched online account opening for checking accounts. We understand the important role small businesses play in the economy, and we’re committed to helping them succeed by offering convenience and choice in banking.”
J.D. Power’s 2019 Small Business Satisfaction Study surveyed 8,287 small business owners or financial decision-makers who use business banking services, including 2,554 in the South. The independent research firm’s study for the South Region comprises 11 award-eligible banks that operate in 16 states from Delaware to Texas and D.C., an area that extends beyond TD’s footprint.
“TD Bank strives to be a trusted resource for small businesses, and these results show that small business owners respond to our operating philosophy,” said Chris Giamo, head of commercial bank, TD Bank. “We appreciate all of the feedback provided through the J.D. Power study and look forward to continuing to build great relationships with our customers and prospects.”
Click here for the full report.
