CIBC builds Messenger digital assistant for sending money overseas

CIBC builds Messenger digital assistant for sending money overseas

The Canadian Imperial Bank of Commerce (CIBC) has launched a digital assistant that helps clients track foreign exchange rates and send money overseas through Facebook Messenger.

Called Remi, the assistant can alert clients via Messenger to an exchange rate they set themselves, with an automatic option for sending a money transfer at that time.

The tool was developed by CIBC Capital Markets with the bank's technology incubator, building on the Global Money Transfer service launched in 2015, which lets clients send money to an expanding list of countries, now topping 50, with no fees.

Vineet Malhotra, MD, head of alternate solutions group and retail solutions group, CIBC, says: "We are excited about the way Remi is making it easier to manage sending money abroad. You'll always know exactly how much money you're sending and the exchange rate you'll receive, all without upfront fees."

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