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CIBC Ranked Top Canadian Bank For Mobile Banking

Stocks in this article: CM

TORONTO, May 28, 2014 /CNW/ - CIBC (TSX: CM) (NYSE: CM) announced today that Forrester Research, Inc. released their 2014 Canadian Mobile Banking Functionality Benchmark report, with CIBC receiving the top overall ranking for mobile banking functionality in Canada among the big 5 banks evaluated.

Forrester evaluated the mobile banking offerings of the five largest retail banks in Canada across more than 35 criteria, and CIBC was cited for best-in-class transactional features, such as:

  • easy to use account management features, including CIBC eDeposit which allows clients to deposit a cheque simply by taking a picture of it with their smartphone
  • breadth of devices and platforms supported
  • the ability for clients to easily navigate to other channels for additional assistance, giving them the option to contact a CIBC representative by phone or email as needed
  • and, best in class features such as a wide range of mobile alerts for clients to stay connected to their finances, and stay on track towards their financial goals

"CIBC was first to market with a mobile banking app in 2010 and we've been innovating to meet client needs through their mobile device ever since," said David Williamson, Senior Executive Vice President and Group Head, Retail and Business Banking, CIBC. "We believe this recognition from Forrester speaks to our commitment to ensure our clients can bank where, when, and how they want."

Mobile Financial Services are Growing in Canada

Canadians have embraced mobile banking and it now forms an important part of a client's overall experience with their bank. CIBC notes that the adoption rate for mobile banking has exceeded that of online banking in the 1990s, an indication of the popularity of banking on the go.

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