Mobile banking app and integrated consumer website help secure win
TORONTO, Nov. 18, 2020 /CNW/ - Global Finance magazine has named CIBC the Best Consumer Digital Bank in North America for the second year in a row, as part of its World's Best Digital Banks 2020 Report. The recognition follows CIBC's win as Best Consumer Digital Bank in Canada by Global Finance in August, with CIBC's integrated consumer bank site, website design and mobile banking app helping secure the win.
"We are proud to be recognized as North America's Best Consumer Digital Bank by Global Finance, especially in light of the significant increase in clients turning to digital banking as a result of the pandemic," said Aayaz Pira, Senior Vice President, Digital Banking, CIBC. "This recognition speaks to our continued investment in innovation, offering market-leading solutions to help our clients achieve their ambitions."
Award recipients were selected based on: the strength of strategy for attracting and servicing digital customers; success in getting clients to use digital offerings; growth of online customer base; breadth of product offerings; evidence of tangible benefits gained from digital initiatives, as well as web/mobile site design and functionality. Representatives from Infosys, a global leader in consulting, technology and outsourcing solutions, selected the shortlist of award finalists, with the editors of Global Finance selecting the winners.
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 per cent, with digital banking sessions up nearly 20 per cent compared to pre-pandemic data.
A full report will appear in the December 2020 issue of Global Finance.
CIBC is a leading Canadian-based global financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and 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.