CIBC Launches First-of-Its-Kind Digital Account Opening for Business Owners

New service makes it simple and secure to open business accounts from anywhere using any device

TORONTO, Oct. 24, 2019 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced that entrepreneurs and professionals may now digitally and securely open new CIBC Business Operating Accounts and customize their CIBC SmartBanking for Business experience using their mobile phone or tablet without visiting a banking centre.

"CIBC has radically simplified the account opening experience, giving business owners valuable time back to focus on their customers and business objectives," said Andrew Turnbull, Senior Vice-President, Business Banking, CIBC. "By combining market-leading digital solutions with CIBC's national network of relationship-based business advisory services, we have elevated our investment in support of a vibrant, entrepreneurial Canadian business community."

This innovative offering completely eliminates the need to scan and upload lengthy business documentation, and further allows existing clients to securely pre-populate large portions of the application by logging in with their existing online banking credentials. Adding to the convenience of applying from anywhere, anytime, each client is introduced to a dedicated Business Onboarding Concierge who answers questions and provides support.

By supporting all major business structures, including multi-owner—and offering a broad range of business accounts, including Business Investment Growth and US Dollar accounts—a wider scope of clients can take advantage of the flexibility and choice.

"When pairing CIBC's market-leading business account packages and digital account open, together with our insights-focused CIBC SmartBanking for Business platform offering cloud accounting and payroll integration, and nationwide business advisory services, CIBC provides the most comprehensive and differentiated banking solution for business owners in Canada," said Turnbull.

About CIBC
CIBC is a leading Canadian-based global financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and Small Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/en/about-cibc/media-centre.html.

SOURCE CIBC

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