Bank of Montreal MasterCard Internet Service Exceeds Expectations
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Bank of Montreal said that over 400,000 customers have taken advantage of its new MasterCard Internet Service which was introduced in mid-February.
About 75% of the users check their balances or obtain information such as bill due dates or minimum payment amounts, approximately 20% want to review a list of recent transactions, and 5% ask for a recent statement.
Kathy Silmser, Senior Vice-President, Cardholder Services, said the free service points to a growing trend on the part of customers to adopt technology to undertake a variety of options to conduct business, but the high usage figures have exceeded expectations.
"We knew our MasterCard clients use their cards because of the convenience factor, but we've been pleasantly surprised by how many cardholders are using this new service and once again, it's the increased convenience that is driving the usage," said Silmser.
The self-serve options are provided in a secure session with strong encryption and a verification process to access the site.