Business Overview:

CIBC is a global financial
institution, with its base in Canada. It provides a full and wide range of
financial products and services to 11 million clients ranging from individuals
to institutional bodies in Canada and around the world. The bank has for
strategic business units:

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i.        
Canadian Personal and Small
Business Banking

    
ii.        
Canadian Commercial Banking and
Wealth Management

  
iii.        
U.S. Commercial Banking and
Wealth Management

   
iv.        
Capital Markets

Canadian Personal and Small Business Banking:

This business unit particularly
deals with the personal and small business clients by providing them financial
advice, team of advisors to provide products and services at the banking
center, along with mobile, remote and direct channels. Canadian personal banking
includes a wide range of services. For instance, bank Accounts, mortgage,
Credit cards, etc.

Personal Bank Accounts:

The Bank extends a large variety
of bank accounts like Chequing, Savings, Prepaid Cards, etc. each having additional
sub categories of accounts based on interest rates and fees. Furthermore, it
offers varied types of bank accounts that have specific features that suit the
needs of the students, youth, seniors, foreign workers, newcomers, etc.

CIBC provides the following
support services to carry out transactions:

·     
Online Banking Service

·     
Mobile Banking Service

·     
Ways to pay such as Using Mobile
Wallets, Visa checkout, etc.

·     
ATM and Branch Network

Recent Developments:

In order to enhance customer experience, following
developments have taken place:

·     
Recently, 100th banking center’s transformation
took place which would increase the bank’s focus on client engagement, while
adding iPads and enhanced ATMs to assist client for using digital channels for
regular transactions. 

·     
First in the Canadian mobile space to allow
clients to sign up numerous banking products online or through mobile devices
by Launching Digital Cart.

·     
Introduced free mobile credit scores
accessibility to clients. First bank in Canada to tailor the needs of the
customers.

Offering all the three principal mobile wallets to clients i.e. Android pay, Apple Pay and Samsung
Pay.

Value Proposition

 

“CIBC – Banking that
fits your life”.

The statement itself implies the ease of banking and paramount
facility, the organization strives to provide to its customers. It highlights
the accuracy, speed and the reliability that the bank attempts to provide to
smoothen customer services.