Client Experience

At CIBC, we are building a relationship-focused bank.

CIBC employee with clientCIBC employee with client

Why it’s Important to CIBC

We recognize that the long-term success and viability of CIBC is closely linked to the confidence and trust of our clients. We aim to build deep and enduring client relationships by putting our clients at the centre of everything that we do. Every day, our 45,000 team members are focused on bringing to life our vision of being the leader in client relationships.

Management Approach

Our medium-term goal is to be #1 in client experience. In support of this goal, a member of our Executive Committee is leading the charge to embed our client-focused culture throughout the organization and align all of our business units towards achieving this goal.

Bank-wide measures are used to track client experience including Ipsos Customer Satisfaction Index Net Promoter Score, J.D. Power Canadian Retail Banking Satisfaction Study and other internal client experience insight and research studies managed by third-party providers.

Our compensation structure is aligned to our client experience goals with variable compensation tied directly to client experience performance.

2017 Performance

Over the past several years we have made meaningful progress towards building a client-first culture and improving the client experience. Since 2013 our client experience scores have outpaced those of the peer average.

This year we made significant progress in closing the gap to #1 as measured by both client experience and client loyalty. We’ve closed the gap to #1 in our peer group by 2.5 points as measured by Ipsos Customer Satisfaction Index Net Promoter Score (NPS)(1). NPS is an important measure of client loyalty, as it reflects the likelihood of a client referring CIBC to family and friends. In the J.D. Power Canadian Retail Banking Satisfaction Study, we improved by 1 point in the gap to #1 in our peer group(2).

Client Experience Metrics: Improvement in Gap to #1(3) from 2013 to 2017

  • J.D. Power Canadian Retail Banking Satisfaction Study 2017:10.0, 2013:31.0
  • Ipsos CSI Net Promoter Score2017:15.5, 2013:25.7
(1)
Ipsos CSI survey rolling four quarter total as at August 2017.
(2)
J.D. Power annual survey conducted in April-May 2017, with results reported July 2017.
(3)
Gap to #1 is a measure of CIBC’s ranking relative to Canada’s Big 5 banks.
  •  Forrester Logo
    Top overall scores for online and mobile banking functionality among the five largest Canadian banks
  •  Retail Banker International 2017 Winner Logo
    North American Retail Bank of the Year by Retail Banker International magazine
  •  Clarabridge Customer Experience Champion 2017 Logo
    Diamond Award for Customer Experience from Clarabridge
  •  GlobalCapital America’s Derivatives Awards 2017 Logo
    Canada Derivatives House of the Year by GlobalCapital
  • Ranked #1 by retail advisors for 2017 in the Investment Executive magazine Report Card on Banks and Credit Unions
  • Best overall mobile banking services in Canada for 2017 by Surviscor
  • Best Innovation in Retail Banking in Canada for 2017 by International Banker magazine
  • Atlantic Trust named Best Private Client Investment Platform for 2017 by Family Wealth Report
  • Top Canadian Prime Broker at the 2017 Canadian Hedge Fund Awards
  • Best Treasury and Cash Management Bank in Canada for 2017 by Global Finance magazine

Making Banking Easier

3 CIBC employees in banking centre

Canadian Personal and Small Business Banking

Canadian Personal and Small Business Banking provides personal and small business clients across Canada with financial advice, products and services through a team of advisors in our banking centres, as well as through our direct, mobile and remote channels.

Canadian Commercial Banking and Wealth Management

Canadian Commercial Banking and Wealth Management provides high-touch, relationship-oriented commercial and private banking, as well as wealth management services. Our team meets the needs of middle-market companies, entrepreneurs, high-net-worth individuals and families, and institutional clients across Canada.

U.S. Commercial Banking and Wealth Management

U.S. Commercial Banking and Wealth Management provides high-touch, relationship-oriented commercial, personal and small business banking, as well as wealth management services to meet the needs of middle-market companies, executives, entrepreneurs, high-net-worth individuals and families in the markets we serve in the U.S.

photo 2 CIBC representatives on trading floor

Capital Markets

Capital Markets provides integrated global markets products and services, investment banking advisory and execution, corporate banking and top-ranked research to corporate, government and institutional clients around the world.

Affordable Banking

We’re making banking more affordable by offering a wide range of products and advisory solutions that include the following no-fee and lower-cost alternatives:

Accessible Banking

We continue to make enhancements across our physical and digital channels so that we can offer barrier-free facilities and services.

We ensure that every new CIBC banking centre is fully accessible, from parking and counters to ATM and vestibule access. Our ATM network is accessible and includes features such as wheelchair accessibility, larger fonts and volume controls.

To ensure that digital properties are also accessible for all of our clients, our website follows the web content accessibility guidelines provided by the W3C, the primary governing body of the Internet, and supports assistive technology such as screen readers.

For visually and hearing impaired clients, the elderly, and persons with restricted mobility, we offer:

  • Client statements for CIBC deposit and credit card accounts, as well as CIBC Wood Gundy accounts, available in Grade 1 or Grade 2 Braille and large print formats in 16-point Verdana font, as per industry and Canadian government standards;
  • Large print cheques by request;
  • Advanced speech recognition and teletype (TTY) technology through CIBC Telephone Banking;
  • Bell Relay Call for assistance with CIBC Telephone Banking transactions or information requests;
  • Sign language interpreters who can be requested for complex banking needs; and
  • Mortgage advisors who are able to accommodate flexible schedules and locations that are most convenient for our clients.

Helping Newcomers Succeed

Our goal is to build strong relationships with new Canadians to help them achieve their financial objectives.

We offer newcomers advice on savings and investment products that are unique to Canada, service in multiple languages, and special offers to meet their immediate and future financial needs. Our multi-language website provides targeted advice and financial solutions in 7 languages.

In addition to 24/7 telephone banking in English and French, we also provide services by phone in Cantonese and Mandarin from Monday to Friday 7 a.m. until 12 a.m. (ET) and Saturdays 7 a.m. to 10 p.m. (ET). We can also offer services in approximately 50 different languages across our network of banking centres.

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We’ve heard from newcomers to Canada that establishing a credit history is one of their greatest financial challenges. To make it easier to start building a credit profile right away, our Welcome to Canada Package includes a range of credit cards without a deposit or credit history requirement for clients holding other CIBC products, free day-to-day banking for one year on a new CIBC Smart Account and a rebate on fees for a safety deposit box. We promote the program in multiple languages to ensure the message reaches as many new Canadians as possible.

Our goal is to bring communities together, strengthen relationships with our clients and engage Canadians of all backgrounds.

CIBC employees holding ‘welcome home’ sign.
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CIBC Global Money Transfer, a no-fee international remittance service, also provides clients an affordable and reliable way to send money to family overseas with no upfront fees through CIBC Online Banking or at CIBC banking centres. Recent enhancements include the Global Money Transfer referral program that offers extra credits for each new referral to the service.

Indigenous Banking

We have sharpened our focus on and support for Canada’s Indigenous (First Nations, Métis and Inuit) communities and individuals.

CIBC is partnering with the First Nations Market Housing Fund and working towards providing greater support and access to First Nations housing both on reserve and on settlement lands across Canada. This will complement CIBC’s Indigenous housing program currently under development that will offer mortgage-like loans to First Nations citizens.

We continue to provide an off-reserve banking centre network, one agency and four on-reserve banking centres located in urban, rural and remote communities across Canada. In addition, our Remote Account Opening platform allows new personal bank accounts to be set up from locations where there are no banking centres. Our Indigenous-focused Financial Literacy Program supports community members with online banking education to ensure our clients receive convenient access to banking services.

Our experienced Indigenous Banking team is growing. We are proud to be developing our national presence as we focus on serving the wealth, personal and business banking needs of Indigenous communities, businesses and citizens. We work closely with our clients to support their objective of economic self-sustainability through long-term relationship building, offering financial service expertise, partnerships and transferring knowledge to community leaders and members on- and off-reserve.

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photo inukshuk

We continue to partner with and support strong Indigenous-focused organizations that share our values and are committed to strengthening Indigenous prosperity and economic equality in Canada. We are members of organizations that focus on sustainable Indigenous economic development, including the Canadian Council for Aboriginal Business, NATOA and CANDO. These memberships ensure CIBC remains involved in matters that impact national Indigenous economic development and wealth accumulation.

Canadian Council for Aboriginal Business logo, Progressive Aboriginal Relations

As a member of the Canadian Council for Aboriginal Business, CIBC is recognized as ‘PAR Committed’ and we intend to undergo external verification of our Aboriginal relations strategies going forward.

Financial Literacy

Every day, our team members help Canadians make sense of their finances by strengthening their knowledge, skills, and confidence to make responsible and sound financial decisions.

3 people sitting at a table 3 people sitting at a table

While much of our expertise is shared in our banking centres in one-on-one conversations with clients or through free seminars at many CIBC locations, our team members also volunteer their time to support financial literacy in our communities.

In addition, we invest in community programs that support financial literacy and entrepreneurship including Junior Achievement.

Financial Literacy for CHL Players
As the Official Bank of the Canadian Hockey League, CIBC developed a unique financial literacy program targeting players, aged 16–19, from our 23 sponsored teams that teaches fundamental money management skills. The CIBC Financial Skills Training program is now a permanent part of the CHL’s annual training camp for these 23 teams.

Information, Advice and Tools

CIBC financial professionals provide expert commentary and reports on tax strategies, estate planning, investments and personal finances.

We help clients navigate and plan for various life stages, such as buying a first home, funding post-secondary education, opening a new business, purchasing a vacation property or saving for retirement.

To support families as they make plans to transition assets or businesses to the next generation, and to help secure their legacy for their children and future generations, we produced reports and hosted events in Canada and the U.S.

We conduct polls to provide insight on financial planning topics to help clients better prepare for their financial future. Over the last year, these poll results generated national attention on issues including financial confidence, home ownership, tax savings, investing, saving for retirement, and budgeting for post-secondary education.

Our digital banking offer includes several personal financial management tools and options:

  • Savings goal tools to help clients reach their savings objectives;
  • Net worth tool to track assets and liabilities;
  • CIBC CreditSmart features to monitor credit card spending;
  • Alerts for upcoming bill payments and transfers; and
  • Instant access to credit scores.
2 women sitting at a table

The CIBC Advice Centre offers several online financial tools and resources to help Canadians feel confident about making personal and family financial decisions. These include tips and resources on saving, budget and cash management, borrowing money, reducing debt, family finance, home ownership, retirement planning, and tax savings. There are also specialized sections for new Canadians and students.

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Financial Literacy for Youth

We support a number of financial literacy programs with a special focus on educating Canada’s kids and young adults to build a better future.

In the past year, hundreds of team members helped thousands of students across Canada with financial and business education through Junior Achievement, in addition to delivering CIBC Money Smarts seminars for students, focused on finances, credit and basic budgeting tools.

CIBC Wealth Management holds financial literacy seminars to educate young adults between the ages of 18 and 25 on a range of financial issues, financial responsibility and tips on how to manage their own finances.

Financial Literacy for Seniors

Your Money Seniors is presented by bankers in the community volunteering their time and expertise, and has been developed in partnership with the Financial Consumer Agency of Canada (FCAC). The program helps seniors protect themselves against financial abuse, identify financial fraud, and make the most of their retirement savings.

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Financial Literacy for Entrepreneurs

Every day, we are committed to strengthening financial literacy in our business communities.

We invest in a number of community programs supporting financial literacy and entrepreneurship. For example, Entrepreneurship 101 at MaRS Discovery District is an online course that equips innovators, entrepreneurs, and intrapreneurs with the skills, tools, intelligence and networks they need to succeed in Canada and around the world, and Futurpreneur Canada provides financing, mentoring and support tools to aspiring business owners aged 18–39.

Protecting Our Clients and Their Assets

Woman Woman

Each of us is accountable to our clients and we are committed to becoming the leader in client relationships. Safeguarding our clients’ personal information and privacy is important to us.

Our Service Commitment

Our goal is to provide clients with the best possible experience each time they do business with us.

Our Service Commitment to You outlines our focus on exceeding client expectations. We strive to be open and forthcoming, provide clear explanations of our products, services and fees, listen to client concerns and provide solutions that are easy to understand and flexible to individual needs. When concerns arise, our goal is to make things right by providing a fair and speedy resolution each and every time.

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CIBC’s Complaint Process includes the Ombudsman’s Office, which is the last point of complaint escalation within CIBC. The primary mandate of the CIBC Ombudsman’s Office is to review unresolved client complaints involving CIBC and its group of companies. The goal of the Office is to resolve disputes fairly through an independent and thorough investigation. The cases brought to the CIBC Ombudsman’s Office allow us to identify areas, products and services where changes might be made based on client feedback. To this end, the CIBC Ombudsman communicates regularly with senior business leaders at the bank to highlight opportunities for improvement.

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In 2017, the Ombudsman’s Office investigated 240 general banking complaints, resolved 122 of those to the satisfaction of the client and took an average of 21 days to complete its investigations.

Privacy and Information Security

Protecting the privacy and confidentiality of our clients’ personal information is a cornerstone of our business and an integral part of our commitment to service excellence.

At CIBC, we value the trust that our clients have placed in us by choosing CIBC as their financial services provider. CIBC is committed to protecting our clients’ privacy, in particular in light of emerging technologies and trends.

To help us meet this commitment, CIBC has appointed a Chief Privacy Officer to oversee CIBC’s privacy management framework. This framework, consisting of privacy policies, procedures, proactive consulting, and privacy awareness and education, assists in preventing and mitigating privacy risk. All employees complete mandatory code of conduct, privacy and information security training upon hiring and subsequently annually. At CIBC we take the protection of personal information seriously. We implement security safeguards designed to prevent unauthorized use, sharing, loss or theft of information.

The Chief Information Security Officer oversees CIBC’s information security organization and framework. This involves managing CIBC’s information security strategy, policies, risk management, security architecture and services, security testing and cyber resilience practices to protect CIBC’s information assets.

At CIBC, our security program proactively adapts to address the evolving threat landscape, technology trends, regulatory environment and existing and emerging standards. CIBC continues to develop controls and processes to protect our systems and client information from damage and unauthorized disclosure. CIBC monitors the changing environment globally, including cyber threats, evolving regulatory requirements, and mitigation strategies. In addition, we continually perform cyber security preparedness and testing exercises to validate our defenses, benchmark against best practices and provide regular updates to the Board. CIBC has cyber insurance coverage to help mitigate loss associated with cyber incidents. CIBC actively participates in external security collaboration with industry peers and government agencies, with a strong focus on threat intelligence, cyber response exercises, and activities to improve collective defenses across our industry.

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Economic Hardship

We are committed to helping our clients and assisting them in challenging times.

Our advisors work directly with clients to help them manage their finances when they are faced with hardship or crisis that makes it difficult for them to meet their financial responsibilities. In these situations, we offer assistance to clients in their day-to-day and long-term financial needs by deferring mortgage or other loan payments and providing them with debt restructuring solutions.

We also support disaster relief efforts in communities across Canada and around the world by making financial donations and through various fundraising initiatives.

In 2017, our bank supported disaster relief efforts through the Red Cross for the wildfires in British Columbia, flooding in Quebec and other parts of Canada, and recovery efforts following hurricanes in the U.S. and the Caribbean.

To help coordinate the outpouring of support from Canadians, CIBC banking centres across the country regularly accept donations from the public to help those in affected communities.

Ways to Bank

clients with CIBC representative clients with CIBC representative

CIBC is leading the way in helping clients bank when, where and how they want.

We offer a full range of financial services allowing clients to bank through their mobile device, online, by phone, or through our teams at banking centres across the country. Some of our recent innovations include:

  • Launching Digital Cart, allowing clients to apply for multiple banking products entirely through their mobile device or online in one single application;
  • Delivering Android Pay, making CIBC the first bank in Canada to offer all three leading mobile payment options (Android Pay, Apple Pay, Samsung Pay);
  • Launching Travel Tools, a mobile banking feature that offers clients more transparency when spending abroad, by showing real-time exchange rates and foreign exchange fees; and
  • Allowing clients free and instant access to their credit scores using the CIBC Mobile Banking app, made possible by our partnerships with fintech lender Borrowell and Equifax Canada.

In addition, CIBC offers advice and banking services through our network of over 1,100 banking centres and nearly 4,000 ATMs across the country.

Our network also includes 129 CIBC Wood Gundy, CIBC Private Wealth Management and CIBC Atlantic Trust locations across Canada and the U.S.

CIBC’s banking centre and ATM locator is available here.

The following is a list of CIBC banking centres and ATMs that have opened, relocated or closed in 2017.

Helping Canadian Businesses Succeed

Man in a store man in store

We are committed to helping our clients reach their business and financial goals.

We offer our clients the information, advice, opportunities and solutions they need to succeed in their fields of business.

We offer business solutions to help clients manage day-to-day banking, accept customer payments, enhance cash flow, complete payroll and workforce planning, manage risks in their business, and maximize savings and investments. When our clients prepare to transition their business, CIBC supports owners and purchasers with advice and solutions to meet their unique needs.

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We produce economic reports that provide relevant information to business owners. Among them was a report by Managing Director and Deputy Chief Economist at CIBC, Benjamin Tal, discussing the dynamism of Canadian small and medium-sized enterprises. Meanwhile, small businesses that outperform are adapting to today’s new technologies and global markets’ new reality by becoming more export-oriented earlier in the life of the business. We also conduct polls and provide insights for business clients on topics such as investing in innovation, tax and cash flow planning, and business transition planning.

photo CIBC executive with client

Own the Community Day
In support of Small Business Month, CIBC hosted a national Own the Community Day, where CIBC’s CEO, Executive Team members, as well as regional leaders and advisors participated in thousands of business client meetings at their place of business and in the community. It was an opportunity to connect with business owners and develop prospects in the community to better understand how we can help them achieve their goals.

We sponsor Canada’s Best Managed Companies, the country's leading business awards program, recognizing excellence in Canadian owned and managed companies, that offers applicants an exceptional opportunity to gain insight and knowledge from some of Canada's top business leaders at CIBC, Deloitte, Queen’s University, Canadian Business and MacKay CEO Forums.

Debt Financing to Canadian Firms

We provide our clients with access to credit in order to support their business goals.

Our range of lending products and services meets the needs of small, medium and large corporate businesses and includes real estate lending and commercial mortgages, agriculture lending, leveraged financing, asset-based lending, wholesale automotive financing and general corporate financing. CIBC and other major Canadian financial institutions have partnered with the Federal Government to create the Business Growth Fund which provides capital, talent and mentorship to spur growth, productivity and increased scale among Canada’s small to medium-sized businesses.