Receives highest score in the J.D. Power 2020 Canada Banking Mobile App Satisfaction Study
TORONTO, June 10, 2020 /CNW/ - CIBC has received the highest ranking in customer satisfaction among mobile banking apps offered by Canada's Big Five banks according to the latest study from J.D. Power, a global leader in consumer insights, advisory services and data and analytics.
"At a time when Canadians are more reliant on technology than ever before due to the COVID-19 pandemic, we're proud to be recognized by the J.D. Power Canada Banking Mobile App Satisfaction Study," said Aayaz Pira, Senior Vice-President, Digital, CIBC. "This recognition speaks to our history of continued investment in innovation, offering market-leading solutions to help our clients achieve their ambitions."
From March 7, 2020 to March 23, 2020, the J.D. Power 2020 Canada Banking Mobile App Satisfaction Study measured overall satisfaction with mobile banking apps based on four drivers: ease of navigation, visual appeal, speed and information/content. CIBC was the top performing mobile bank app across all four key drivers of satisfaction.
In response to the COVID-19 pandemic, CIBC's online and mobile banking capabilities supported unprecedented growth in digital transactions. Since the pandemic started in March, the total number of new CIBC digital registrants increased nearly 40 percent, with digital banking sessions up nearly 20 percent compared to pre-pandemic data.
In just days, CIBC launched digital access both online and in-app to government programs such as the Canada Emergency Business Account and the Canada Emergency Response Benefit, while also offering digital forms to apply for mortgage, loan and credit deferrals. This new COVID Hub in the CIBC mobile app provides clients quick and easy digital access to timely applications, resources and advice.
"The new realities brought forth by the pandemic accelerated a digital shift that was already underway before COVID-19, and it is likely that many of the trends we're seeing will become permanent as users adopt to the convenience and ease of digital banking," added Mr. Pira.
In 2019, CIBC earned the top spot in the J.D. Power Canada Credit Card Mobile App Satisfaction Study.
CIBC is a leading Canadian-based global financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and Small Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/en/about-cibc/media-centre.html.