TORONTO, Feb. 18, 2015 /CNW/ - CIBC (TSX: CM) (NYSE: CM) announced today that it is being recognized by
Global Finance magazine as the Best Treasury and Cash Management Bank
in Canada. This is the first time Global Finance has evaluated the
Canadian market for cash management services. Among the criteria for
the award was the bank's focus on client service and innovation.
Business clients at CIBC have benefited from a number of first to market
innovations over the last few years, including:
The ability to deposit cheques without leaving the office using the new
CIBC eDeposit for cheques service. Using a special scanner, clients can
scan a large number of cheques at once and upload the cheque images for
The option to deposit cash to their account while the cash is still in
their store. The new eDeposit for cash service is a partnership with
Brink's Canada and uses a special in-store safe and a secure connection
to CIBC to credit clients for cash on hand, before it has even reached
the bank for deposit.
The introduction of CIBC Mobile Business, which allows clients to
perform a range of cash management functions, including payment
approvals, using their mobile device.
The ability to accept debit and credit card payment on mobile devices,
integrated with acceptance on websites and in-store POS.
Continued investment in our online cash management platform, CIBC Cash
Management Online® (CMO), with a focus on the features and services that are of most value
to business clients.
"We have made a number of investments in our cash management solutions
for clients to meet their needs today and build the modern, convenient
services that our clients need to help grow their business tomorrow,"
says Phil Griffiths, Senior Vice President, Global Transaction Banking,
CIBC. "We believe this recognition from Global Finance speaks to our
client focus and the value our clients see in having their business
banking relationship with CIBC."
Cash Management is Evolving in Canada
Managing cash flow has always been essential to Canadian businesses of
all sizes. In recent years, new technologies and changing client demand
has created an opportunity for banks to invest in innovative new
services that take cash management to the next level.
"There's no question that effective cash management remains a critical
issue for businesses in Canada and our clients are demanding solutions
that meet their evolving payment needs," added Mr. Griffiths. "The
demand for real time and mobile cash management solutions is higher
than ever, and CIBC is actively investing in delivering these
innovations to our clients first."
More information about the winners is available at GFMag.com
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:
Caroline Van Hasselt, Director, External Communications, 416-784-6699 or firstname.lastname@example.org