Canadian Imperial Bank of Commerce
The Canadian Imperial Bank of Commerce (CIBC) is a leading financial institution in Canada, providing customers with the services and products tailored to their needs whether it be in a personal, business or digital context. Since its beginning in 1867, CIBC has built a strong, diverse customer base in all of their business divisions, from retail and commercial banking to wealth management and capital markets. As a leader in the Canadian banking industry, CIBC has an amount of $485.7 billion in assets and is guided by two core values: trust and performance 1.
To strengthen their commitment to customer service, CIBC has adjusted their strategies to keep up with the ever-changing banking world. The bank recently developed several mobile applications, such as their CIBC Mobile Banking App, to compete with other top-tier banks. This mobile application allows customers to access their checking, savings and lending accounts, as well as make deposits, mobile payments and transfer funds between different accounts. With the rise in fintech, CIBC has also invested in collaborations with digital companies to help promote their services. For example, CIBC and Paytm (a Canadian digital payment company) partnered to introduce a payment system for American Express® Cardholders, thus making digital and mobile payments more accessible for CIBC customers.
In addition to its digital operations, CIBC provides customers with day-to-day banking services such as mortgages, car loans, lines of credit and credit cards. These products aim to provide financial solutions for those who need it, whatever their financial situation may be. CIBC has worked hard to maintain the trust of its customers with its extended list of products and services which are tailored to everyone’s different needs.
Furthermore, CIBC continues to focus on its consumer and business banking services, as well as its wealth management and capital market offerings to ensure they are providing the best possible service to its clients. The bank offers advice and financial solutions such as estate planning, retirement planning, investment advice, business loans, and insurance services.
Finally, CIBC strives to positively contribute to the communities that they serve. Through their Corporate Social Responsibility (CSR) program, CIBC focuses its efforts in four core areas of grant funding: health, education, community and environment. In 2017, CIBC donated nearly $50 million to a variety of charities and organizations which it supports 2. This demonstrates their commitment to giving back to the communities that have supported CIBC since day one.
In conclusion, the Canadian Imperial Bank of Commerce offers a broad range of financial products and services to both businesses and individuals. They use the latest technology and digital tools to keep up with customer demand and provide services that are tailored to individual customer needs. CIBC strives to provide exceptional customer service, invest in digital innovation and give back to the communities that it serves, thus remaining to be a leader in the banking industry for years to come.
References:
1. https://www.cibc.com/content/cibc/en/financial-services/overview-corporate-context.html
2. https://www.cibc.com/en/about-cibc/corporate-responsibility/overview.html
