CIBC one of two Canadian banks to earn highest overall score in mobile banking functionality benchmark

TORONTO, June 1, 2016 /CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced it is one of two banks to earn the highest overall score in the Forrester Research 2016 Canadian Mobile Functionality Benchmark. According to the report, CIBC stands out by supporting a wide range of mobile touch points and excelling at marketing and sales with features like preapproved offers and prefilled applications within the mobile app.

"We believe the recognition from Forrester Research is another indication of our commitment to being a leader in client-focused innovation," says David Williamson, Senior Executive Vice President and Group Head, Retail and Business Banking, CIBC. "CIBC is at the forefront of delivering products and services that meet the growing digital expectations of mobile-first or mobile-only clients. Our mobile solutions meet the everyday banking needs of our clients to bank anywhere, anytime, and create opportunities for us to build and deepen client relationships."

Forrester Research evaluated the mobile banking offerings of the five largest retail banks in Canada using 40 criteria. CIBC earned a score of 81 out of 100, tied for the top overall score.

Some of the features that were evaluated this year include:

• Enrollment and login: At CIBC, we make it easy for clients to enrol in mobile banking and login to their account, supporting a wide range of touch points including wearables like the Apple Watch
  
  
• Account and money management: We offer clients a number of helpful tools to view, understand and manage their personal finances on the go, such as budget or savings calculators
  
  
• The report also recognized CIBC for providing strong research content, and offering full product applications, all from the mobile app. We allow clients to compare products and services, and deliver pre-approved offers and pre-filled applications. Clients can open multiple accounts with an option to take a picture of a cheque or use an eSignature to complete the application

"Mobile banking has been viewed as a service channel and has become essential to client experience, however we also see an opportunity to invest in digital sales capability to deliver on the changing needs of our clients," added Mr. Williamson. "Our recently announced digital account open functionality and our CIBC Hello Home app are examples of taking mobile to the next level by enabling clients to deepen their banking relationship with us entirely through their mobile device."  

About CIBC
CIBC is a leading Canadian-based global financial institution with 11 million personal banking and business clients. Through our three major business units – Retail and Business Banking, Wealth Management and Capital Markets – 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. Ongoing news releases and more information about CIBC can be found at www.cibc.com/ca/media-centre/ or by following on Twitter @CIBC, Facebook (www.facebook.com/CIBC) and Instagram @CIBCNow.

SOURCE CIBC - Corporate

Olga Petrycki, Director, External Communications, 416-306-9760 or [email protected]