TORONTO, May 26, 2015 /CNW/ - CIBC (TSX: CM) (NYSE: CM)
today announced it is one of two banks to earn the highest overall
score in the Forrester Research 2015 Canadian Mobile Banking
Functionality Benchmark report. This marks the second straight year
CIBC has received the top score in the benchmark report. CIBC also
received the highest overall score among the five largest Canadian
banks in Forrester's Online Banking Functionality Benchmark for
20141.
Forrester evaluated the mobile banking offerings of the five
largest banks in Canada across 41
criteria to score the banks' mobile offerings. CIBC earned the top
score of 75 along with one other bank. Some of the features for
CIBC in this year's benchmark include:
- Enhanced Security - the introduction of one-time pass
codes to enhance security by allowing clients to reset passwords
securely using their mobile device.
- Improved Product Information - CIBC offers a range of
calculators and product selectors and allows clients to compare
products and services.
- Ease of enrollment and login - As a growing number of
Canadians exhibit mobile first or mobile only behaviour, CIBC
allows clients to enroll and use mobile banking without having to
register and signup for online banking first - one of only two
banks in the study to offer this functionality.
"Our clients want the flexibility to bank when, where and how
they want, and our continued investment in mobile banking speaks to
our commitment to delivering the innovations our clients want from
their bank," said David Williamson,
Senior Executive Vice President and Group Head, Retail and Business
Banking, CIBC. "Driving innovative technology as part of client
relationships will be essential to building the bank of the future
for our clients, and we believe this recognition from Forrester is
another indication of our commitment to leading in this area."
Mobile Banking Outpacing Online Banking
Introduced in the 1990s, online banking is widely used by
Canadians. However since CIBC's introduction of the first mobile
banking app in 2010, mobile banking is now overtaking online
banking in terms of popularity. In recent months, CIBC's mobile
banking logins have surpassed online banking logins. In addition,
clients have deposited over 3.8 million cheques through our
eDeposit service which launched in 2013.
"Canadians have embraced the flexibility that comes with mobile
banking, whether it's paying a bill waiting for your kids at a
soccer game, or depositing a cheque without having to drive to your
local branch," noted Mr. Williamson. "As the popularity of mobile
devices continues to grow, CIBC will continue to innovate with new
features and services to deliver banking that fits the lives of our
clients."
The Forrester report on mobile banking is available here.
1"2014 Canadian Online Banking Functionality
Benchmark", Forrester Research Inc., January
7, 2015
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 Media Centre on our corporate website at www.cibc.com.
SOURCE CIBC