CIBC again named Best Consumer Digital Bank in North America by Global Finance


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.