Success of eDeposit feature on CIBC's mobile banking App illustrates the
growing demand for flexible banking solutions
TORONTO, July 29, 2014 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced that clients have now deposited
more than one million cheques using the innovative eDeposit feature
available on CIBC's mobile banking App. The feature allows personal and
small business clients to deposit cheques to their CIBC account simply
by taking a photo of the cheque with their mobile device.
"Depositing cheques using a smartphone would have been hard to imagine
even a few years ago, and today clients across Canada are uploading
photos of cheques and making deposits from wherever they are, anytime
of day," says Aayaz Pira, Vice-President, Digital Channels, CIBC.
"Canadians expect their financial institutions to offer services that
meet changing consumer needs, which is why CIBC continues to innovate
to help our clients bank when, where and how they want."
"Clients who receive paycheques or who run their own business really
benefit from the ability to deposit cheques with their smartphone, and
we're finding that once these clients try the service they use it
often," adds Mr. Pira.
Following the introduction of the first mobile banking App in Canada in
2010, CIBC launched a first-of-its-kind mobile payment App in 2012.
Last year, CIBC was first among the Big 5 Canadian banks to deliver
eDeposit to personal and small business clients. More recently, CIBC
was the first bank in Canada to bring eDeposit to business banking
clients who receive a larger volume of cheques. These clients use a
special desktop scanner to securely scan and upload images of cheques
CIBC is a leading Canadian-based global financial institution with
nearly 11 million personal banking and business clients. Through our
three major business units - Retail and Business Banking, Wealth
Management and Wholesale Banking - CIBC offers a full range of products
and services through its comprehensive electronic banking network,
branches and offices across Canada with offices in the United States
and around the world. You can find other news releases and information
about CIBC in our Media Centre on our corporate website at www.cibc.com.
For further information:
Media contact: Caroline Van Hasselt, Director, External Communications and Media Relations, 416-784-6699 or firstname.lastname@example.org