CIBC, Scotiabank Earn Highest Score in Mobile Banking: Report [u]

CIBC has today announced that it is one of the two Canadian banks to earn the highest overall score in the Forrester Research 2016 Canadian Mobile Functionality Benchmark. The research firm 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.

Cibc

The report highlights that 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. The bank is also recognized for providing strong research content, and offering full product applications, all from 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.”

“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.”

CIBC is one of the top Canadian-based global financial institutions, with 11 million personal banking and business clients. The bank’s iOS app was the first to add photo-chequing capabilities for its customers.

As for the other bank tied for first with CIBC, it was Scotiabank. Jeff Marshall, Head of the Digital Factory at the bank, said in a statement “Our customers expect innovative, world-class digital banking solutions that make it easier for them to do business with us,” adding “This recognition from Forrester validates that we are on the right path. We will continue to create the kind of digital experiences that exceed our customers’ needs today and into the future.”

CIBC, along with RBC, were the first Canadian banks to support Apple Pay. Earlier this morning, Scotiabank launched support along with TD and BMO.

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  • Adam Bakary

    I used to have a negative view about CIBC but they impressed me with the quality and modernity of their customer facing technologies

  • toronto_dude

    This is basically a CIBC press release. If it was a genuine news article, the other bank tied for first place would have also been identified. Advertisement, not journalism.

  • Bleep Bloop

    Thank you! I was just about to post the same comment.

  • Updated to add Scotiabank was the other bank. Definitely not an ad, thanks for the feedback!

  • Jake

    yeah I really like the cibc app

  • Guest

    How does CIBC compare to Tangerine?

  • Aleks Oniszczak

    Some of the errors in the CIBC app make me a bit worried using it sometimes. E.g. When you transfer money between accounts there is a “Repeats” menu item that doesnt have an option to NOT repeat! The lowest number of repeats it lets you select is “once” – but what if I don’t want to repeat at all??? I usually want to pay once, with NO repeats. A bank should be a little more careful when it comes to money.