I have been in a depressed mood since my money was transferred to a fraudulent account from Bank of Montreal to Standard Chartered Bank of Hongkong last week. A swift investigation was now underway, but my heart was still heavy. However, I am quite satisfied with BMO’s quick response and customer-centered attitude. Nearly every day the bank’s customer service representative would make a phone call to me reporting how the case was going on. Last Friday, when I went to the bank to deposit a cheque the representative even gave me a Chinese pin-up calendar and said happy Chinese lunar new year to me. I was actually quite touched by it. Studying overseas is a challenging experience for me, but there is still someone out there making me feel like at home. And that someone is not a friend, but my bank—Bank of Montreal. This makes me feel that the bank not only cares about my money, but also cares about my feeling. BMO “Making money Make sense.”

Due to growing immigration Canada is becoming more and more of a multicultural country. How to attract and retain new immigrants and create customer value added service is becoming paramount for each bank. The markets relating immigration and new comers are producing multibillions every year. The banks, of course, want to have a piece of the big cake and keep a close eye in this potential market. Among the big five banks, three of them( RBC,BMO and CIBC) have Chinese online service if you open their portal website, and among the three, BMO and CIBC have a complete set of Chinese banking system. When you logon their website you can clearly witness three language services: English, French and Chinese. TD and Scotiabank only provide French and English services.

Chinese clients are becoming an important market segment for the banks. Many banks have developed special marketing strategy targeting Chinese clients, creating customer value and achieving profitable customer relationships. Obviously, you would feel very happy when your bank says happy new year to you and puts a traditional Chinese calendar on your hand because that means a lot to us. It tells that the bank really cares about you and your tradition. Isn’t that a smart way to keep a loyal group of special clients? Definitely! Through marketing differentiating BMO occupies a clear, distinctive , and desirable place relative to competing banks in the minds of target consumers.