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CIBC debuts digital identity verification

Source: CIBC

Today CIBC announced a new digital identity verification option, enabling prospective CIBC clients in Canada to verify their identity in minutes, without the need for a trip to the banking centre or to speak to a client care representative to open new accounts online.

Utilizing machine-learning algorithms, digital verification technology offers fast, easy and secure onboarding for new CIBC clients through the CIBC website or mobile banking app.

"We know our clients and prospective clients are seeking smart, convenient banking, and digital identity verification is another way we're innovating to meet our clients' changing needs," said David Attard, Senior Vice President, Digital Banking & Enablement, CIBC. "We continue to transform and enhance our digital experience to save our clients' time and effort, and make it easier to bank with us."

Digital identity verification is available to clients completing an online application for a chequing account, savings account, personal line of credit, or credit card. To take advantage of digital identity verification, a client must:

Select the digital identity verification option when prompted during the application process on the CIBC mobile banking app or website;
Take a photo of their preferred government-issued identification (passport or driver's licence);
And take a selfie.

These images are then verified online through secure technology as part of the account or product application process. Clients can complete the entire process in minutes.

"Digital identity verification is yet another way we're building the bank of the future, supporting our clients to bank with us when, where and how they want," added Mr. Attard.

Additionally, CIBC continues to enhance its mobile banking experience, and was ranked #1 in customer satisfaction for mobile banking among Canada's largest banks by J.D. Power in June 2021.

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