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CIBC Ranked Top Canadian Bank for Mobile Banking Out of the ‘Big 5’

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The latest study by Forrester Research has proclaimed CIBC as the top Canadian financial institution when it comes to mobile banking, as noted in the 2014 Canadian Mobile Banking Functionality Benchmark report, which examined over 35 criteria across the ‘Big 5’ banks.

CIBC was praised for its “best-in-class” transactional features including the following:

  • 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
In CIBC’s press release, they were quick to tout their firsts when it comes to mobile banking:

“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.”

CIBC notes the adoption rate of mobile banking has exceeded that of online banking from the 1990s, a sign banking while on the go has become popular.

The CIBC Mobile Banking iOS app was updated last fall to allow for ‘photo chequing’ using the device’s camera.

Earlier this week, NCR data reported Canadians had made over 1 million photo chequing deposits since last year, and similarly ranked CIBC as one of the banks leading the way.

Are you depositing cheques with the CIBC Mobile Banking iOS app?

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  • MikeJenkinson

    I find it rather amusing (enraging, shurely – ed) that TD’s American operations have an app that allows cheque deposit through the American TD banking app, but TD’s Canadian operations don’t have that included in the Canadian TD banking app. Why? Obviously, you’ve paid someone to develop that capability… why limit it to south of the border, particularly when some of TD Canada’s competitors offer that service in Canada. Baffling.

  • BCEd

    Same applies to BMO & its Harris Bank operations in US. Just goes to show you how uncompetitive retail banking is in Canada.

  • Jason Reid

    The app works great. Better than dealing with CIBC customer service.

  • Hondanazi

    Also why does TD offer pre paid Visa in the states but not here? Friggin annoying!

  • YOLO

    TD was really bad. I’m happy I switched to CIBC…their app is amazing. TD’s app was garbage, and I’m happy I don’t have to use that embarrassment of an app anymore.

  • Jason C

    Their Apple Watch and iPhone app is the reason why I opened an account.

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