CIBC’s mobile banking app turns 10 years old on February 2nd, marking a decade since the bank became the first major Canadian financial institution to offer a mobile banking app to clients.
In a press release, CIBC reflected on the time, noting that the way Canadians bank has changed in the last decade. For example, Canadians can now pay bills, open accounts and send money overseas with their smartphones.
“CIBC is proud to celebrate the tenth anniversary of the first mobile banking app in Canada, marking the first time Canadians could bank on the go anywhere using their smartphone,” said Aayaz Pira, CIBC’s senior vice president of digital and direct banking.
Further, the financial institution shared a list of some of the major additions it made to its mobile banking app since 2010.
- 2011: Introduced first mobile brokerage app, making it easier for clients to trade on the go.
- 2013: Introduced first eDeposit and mobile business app for business owners, introduced Android capabilities to clients.
- 2014: Launches first remote deposit capture feature with CIBC eDeposit.
- 2015: Launched first banking app on Apple Watch, introduced online and mobile Global Money Transfer.
- 2016: First digital account opening, lets clients scan drivers’ license and cheque to open a bank account.
- 2017: Introduced Android Pay, making CIBC the first Canadian bank to support all three leading mobile payment solutions. Also launched free mobile credit scores for clients.
- 2019: CIBC is first to let customers replace a lost or stolen credit card through mobile or online banking and instantly use the new card with their mobile wallet before the physical card arrives.
CIBC also recently launched the ability to lock and unlock credit cards, real-time notifications when a credit transaction is made and the ability to instantly activate or replace a damaged card online or through mobile banking.