CIBC Continues its Leadership in Mobile Financial Services with the Launch of New Text Message Alerts

New Alerts deliver important reminders to CIBC clients to help them stay on top of their finances

TORONTO, June 25, 2012 /CNW/ - CIBC today announced it has launched powerful new text message (SMS) customer Alerts, continuing its leadership in mobile financial services. The new Alerts bring important financial information to clients at a time and place that's convenient for them through their smartphone, or through email or online banking, to help clients manage their day to day finances.

The Alerts range from reminding clients about upcoming credit card payments and due dates so they don't inadvertently miss a payment, to information on future-dated bills or transfers to ensure clients have adequate balances and can avoid late payment fees. Text message Alerts to mobile devices, combined with CIBC's award-winning Mobile Banking, empowers clients to effectively and conveniently manage their finances, wherever they are.

"Making these new Alerts available online, by email or by text message allows clients to view timely reminders about their finances whether they are banking online, or on the go with mobile banking," said Michael Martin, Senior Vice President, Alternate Channels CIBC. "With the rapid growth in smartphone adoption and mobile banking in Canada, the addition of text message functionality puts more information about their day to day finances into our clients' hands."

A CIBC poll conducted by Harris/Decima earlier this year revealed Canadians named managing day to day spending and budgeting as one of their top three priorities for 2012. These enhancements will make it easier for clients to stay on top of their everyday banking as part of their broader financial plan.

CIBC clients can sign up for e-mail, online or text message Alerts to notify them of a variety of information:

  • Upcoming payments and transfers, such as:
    • When future-dated transfers or bill payments go through
    • When they don't go through, so clients can add the necessary funds to their account in time to avoid late payment fees and charges
  • Keeping track of spending limits and other financial changes, such as:
    • When clients attempt to exceed their daily limits for ABM withdrawals and point of sale transactions
    • When funds held upon deposit become available
  • Credit card information, such as
    • When their minimum payment is due
    • When their monthly statement is available online
    • When client-customized monthly budgets are exceeded
  • Preventing fraud, such as:
    • When information changes, such as a PIN number, address change or new bill payee added
    • When a credit report has changed
    • When there is any potential fraudulent activity on their debit or credit card

Many more Alerts are available and clients can view all of the options when they sign on to CIBC Online Banking.

Alerts add to the online services available to CIBC clients, such electronic statements for their chequing, savings and credit card accounts. Together with CIBC's innovation in Mobile Banking, Sunday hours at a number of our branches, and award-winning Online Banking, CIBC Alerts give Canadians one more reason to do more of their everyday banking with CIBC.

CIBC is a leading North American financial institution with nearly 11 million personal banking and business clients. CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada, and has offices in the United States and around the world. You can find other news releases and information about CIBC in our Press Centre on our corporate website at www.cibc.com.

SOURCE CIBC

For further information:

Sean Hamilton, Director Communications and Public Affairs at 416-304-8456, sean.hamilton@cibc.ca


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