TORONTO, Jan. 26, 2015 /CNW/ - CIBC (TSX: CM)
(NYSE: CM) announced today that it received the top overall ranking
for online banking functionality in Canada among the big 5 banks reviewed in
Forrester Research Inc.'s 2014 Canadian Online Banking Benchmark
report. This follows CIBC's top ranking in the Canadian Mobile
Banking Benchmark from Forrester, released in May 2014.
For their most recent report, Forrester evaluated the online
banking functionality of the five largest retail banks in
Canada across more than 50
criteria, and CIBC's redesigned secure website topped this year's
benchmark.
Key areas of strength for CIBC in online banking included:
- The highest overall ranking for security and privacy, with
features such as one-time pass codes for key security tasks.
- CIBC also stood out for money management, embedding financial
goals on the online banking homepage and providing a "Financial
HealthCheck" that gives personalized recommendations for reaching
financial goals including debt reduction and savings.
"Delivering industry leading online and mobile banking
capabilities is foundational to building a modern, convenient bank
to meet the changing needs of our clients," says David Williamson, Senior Executive Vice
President and Group Head, Retail and Business Banking, CIBC. "We
believe this latest recognition from Forrester speaks to our
continued investment in innovation, making banking easy,
personalized, and flexible for our clients. That's what Canadians
want from their bank, and CIBC is delivering."
Online banking continues to be widely used in Canada
While Mobile Banking is a rapidly growing channel for Canadians
to bank anywhere, anytime, Forrester notes that more than
three-quarters of Canadians bank online. Investing in assisted
service functions is essential to the online client experience for
those times when clients need additional information or an answer
to a specific question. The Forrester benchmark also gave CIBC the
top ranking for assisted service features, which allow clients to
quickly get further support through online chat and other features
when banking online.
CIBC is leading the way in retail banking innovation
CIBC's clients have been the first in Canada to benefit from a number of innovations
in retail banking in recent years. CIBC launched the first mobile
banking app in Canada in 2010, a
first of its kind mobile payments app in 2012, and more recently
was first among the big 5 to allow clients to deposit cheques using
their smartphone in 2013.
"We have a culture of innovation at CIBC with a sharp focus on
the needs of our clients, today and in the future," adds Mr.
Williamson. "We're pleased to earn this recognition from Forrester
and we will continue to invest in the innovative products and
services that are helping us build deeper banking relationships
with our clients."
About CIBC
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.
SOURCE CIBC