For the second consecutive year CIBC receives highest score in the Canada Banking Mobile App Satisfaction Study
TORONTO, June 10, 2021 /CNW/ - CIBC's mobile banking app has once again received the highest ranking in customer satisfaction in Canada among the Big Five banks, according to the latest study from J.D. Power, a global leader in consumer insights, advisory services and data and analytics.
"We continue to innovate and invest in new features to provide our clients with a modern, convenient and elevated mobile banking experience," said Laura Dottori-Attanasio, Group Head, Personal and Business Banking, CIBC. "We're proud to receive this recognition from J.D. Power, especially as more and more Canadians are relying on mobile banking to stay connected to their finances."
From March 1, 2021 to April 3, 2021, the J.D. Power 2021 Canada Banking Mobile App Satisfaction Study measured overall satisfaction with mobile banking apps based on 1) navigation, 2) visual appeal, 3) speed, and 4) information/content. CIBC's mobile banking app was a top performer across most drivers of satisfaction, leading Canada's Big Five banking apps with its speed, and features such as mobile cheque deposit and account/profile management.
CIBC's online and mobile banking platforms have seen a tremendous increase in usage in the year since the pandemic began, with digital transactions and logins each growing by 23 per cent year-over-year, while the number of active mobile users grew by 11 per cent.
CIBC continues to enhance its mobile banking experience, with a number of new offerings and recent updates to support clients banking at home and on-the-go, including:
- CIBC Insights, a mobile banking feature offering clients personalized and actionable recommendations based on their financial transactions;
- CIBC Smart Balance Alerts, which enable clients to avoid negative account balances, declined payments and NSF fees through proactive alerts;
- Instant access for lost or replacement credit cards, enabling clients to get their new card digitally through the mobile banking app for immediate use with Apple Pay or Google Pay;
- Enhancements to the process of adding credit cards from the CIBC Mobile Banking® App to digital wallets, making digital and tap payments easier, and;
- CIBC's AI-based Virtual Assistant, which can help clients perform banking transactions and answer questions about everyday banking, and will launch on mobile banking later this year.
CIBC is a leading North American 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, with offices 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.