28 July 2016
Find out more

CIBC passes one million mobile cheque deposit milestone

29 July 2014  |  1536 views  |  0 Source: CIBC

CIBC (CM.TO) (CM) today announced that clients have now deposited more than one million cheques using the innovative eDeposit feature available on CIBC's mobile banking App.

The feature allows personal and small business clients to deposit cheques to their CIBC account simply by taking a photo of the cheque with their mobile device.

"Depositing cheques using a smartphone would have been hard to imagine even a few years ago, and today clients across Canada are uploading photos of cheques and making deposits from wherever they are, anytime of day," says Aayaz Pira, Vice-President, Digital Channels, CIBC. "Canadians expect their financial institutions to offer services that meet changing consumer needs, which is why CIBC continues to innovate to help our clients bank when, where and how they want."

"Clients who receive paycheques or who run their own business really benefit from the ability to deposit cheques with their smartphone, and we're finding that once these clients try the service they use it often," adds Mr. Pira.

Following the introduction of the first mobile banking App in Canada in 2010, CIBC launched a first-of-its-kind mobile payment App in 2012. Last year, CIBC was first among the Big 5 Canadian banks to deliver eDeposit to personal and small business clients. More recently, CIBC was the first bank in Canada to bring eDeposit to business banking clients who receive a larger volume of cheques. These clients use a special desktop scanner to securely scan and upload images of cheques for deposit.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comFind out moreVisit www.abe-eba.eu

Top topics

Most viewed Most shared
MasterCard agrees £700m VocaLink acquisitionMasterCard agrees £700m VocaLink acqu...
9525 views 14 comments | 33 tweets | 38 linkedin
satelliteContactless Bitcoin startup Plutus Tap &am...
9525 views comments | 9 tweets | 4 linkedin
Apps crush internet for UK banking loginsApps crush internet for UK banking logins
8409 views comments | 19 tweets | 25 linkedin
Telefonica Germany launches Fidor-backed mobile banking serviceTelefonica Germany launches Fidor-backed m...
6532 views comments | 16 tweets | 19 linkedin
hands typing furiouslyHow machine learning can cut costs on tran...
6081 views 0 | 12 tweets | 3 linkedin

Featured job

Find your next job