Canadians embracing CIBC's mobile innovations as a convenient way to bank, trade stocks, and stay connected to their finances

TORONTO, Aug. 30, 2011 /CNW/ - CIBC today announced that it is being recognized by Global Finance Magazine as "Best in Mobile Banking" among North American Consumer Internet banks. This is the first year the mobile banking category has been included in the Global Finance awards, reflecting the emergence of mobile technology as a rapidly growing area in North American banking.

"Our clients have embraced mobile banking and investing, and enjoy the convenience and flexibility that comes from being able to bank or trade on the go," said Michael Martin, Senior Vice President, Alternate Channels, CIBC.  "Being first to market on mobile innovations is key to our strategy of investing in greater flexibility and access for our clients."

CIBC is the leader in delivering mobile innovations to clients. In February 2010, CIBC was the first bank in Canada to launch a mobile banking App, and more recently launched the CIBC Mobile Brokerage App, making CIBC the first bank in Canada to launch a mobile stock trading App that allows clients to trade stocks on their mobile device. The bank also offers the CIBC Home Advisor App, with free tools, advice, and neighbourhood information to assist homebuyers in making an informed decision when buying a home.

The recognition from Global Finance is based on criteria including strength of strategy for attracting and servicing customers, success in driving usage of mobile apps, and overall functionality.

"Our clients enjoy the convenience and flexibility that comes from being able to bank or trade on the go, and we've had overwhelmingly positive feedback from clients using our mobile apps to meet their financial needs", added Mr. Martin. "Clients have embraced mobile innovations as part of their everyday banking and investing activities, and we're excited to be leading the industry in meeting the pent up demand for mobile financial services in Canada."

With strong smartphone adoption rates and demand for greater access to their bank accounts through mobile technology, Mr. Martin adds that mobile innovation will continue to be important to clients. "The convenience of being able to pay a bill while standing at the bus stop, or making a trade in your self-directed portfolio when you are on the go is opening up a new level of access and flexibility, and we expect to see continued strong demand for mobile innovation in the future," added Mr. Martin.

CIBC (CM: TSX;NYSE) 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 Press Centre on our corporate website at www.cibc.com.