CIBC Mobile App Spotlight 2021

In-Demand Features that Could Distinguish Its Offering From the Competition

Report by Michael Tattersall  |  Jul 6, 2021

Canada Mobile Banking App Spotlights 2021

Download the Full Collection

How the Top 7 Canadian Banks Could Distinguish Their Offerings with In-Demand Features

+ 5 more
See All
Download
Report
Spreadsheet
Crosstabs
Share
Table of Contents
Executive Summary
Key Points
Methodology at a Glance
Distinguishing CIBC’s Mobile Banking App
No. 1: Security and Control
No. 2: Transfers
No. 3: Account Management
No. 4: Alerts
No. 5: Digital Money Management
No. 6: Customer Service
Methodology
Survey Demographics
Read Next
Media Gallery
About This Report
In 2021, the number of new mobile banking users in Canada will plummet to a third of the previous year’s level, considerably increasing competition among financial institutions (FIs), including CIBC. As the battle for new mobile users heats up, FIs’ mobile banking app features will be crucial. This report identifies which key growth opportunities CIBC might focus on to gain and retain customers.
Topics
Consumer Banking
Mobile Banking
Canada
Table of Contents
Executive Summary
Key Points
Methodology at a Glance
Distinguishing CIBC’s Mobile Banking App
No. 1: Security and Control
No. 2: Transfers
No. 3: Account Management
No. 4: Alerts
No. 5: Digital Money Management
No. 6: Customer Service
Methodology
Survey Demographics
Read Next
Media Gallery

Executive Summary

Slowing smartphone banking user growth this year is forcing Canadian financial institutions (FIs) to double down on enhancing their mobile offerings. This report shines a light on the features CIBC could add to strengthen its mobile banking app to win new users and better service its existing customer base.

3 KEY QUESTIONS THIS REPORT WILL ANSWER

  1. How do CIBC’s customers compare to mobile banking users in Canada?
  2. Is CIBC’s mobile banking offering aligned with customer demands?
  3. Which key tools could CIBC use to enhance its mobile app?

WHAT’S IN THIS REPORT? This report focuses on the CIBC-specific findings from our inaugural Canada Mobile Banking Emerging Features Benchmark Study, which scores the seven largest FIs based on their support of 42 advanced mobile banking emerging features. Our report highlights the in-demand features that CIBC could add to its mobile app to make it more competitive.

KEY STAT: CIBC can boost its customer acquisition efforts by adding the most in-demand mobile banking tools: 60.8% of adults in Canada who have used mobile banking would research an FI’s mobile capabilities ahead of opening an account.

Please note: The data in this report reflects feature availability as of February 1, 2021, as previously published in the "Canada Mobile Banking Emerging Features Benchmark 2021."

Here’s what’s in the full report

3files

Exportable files for easy reading, analysis and sharing.

Table of Contents

  1. Executive Summary
  2. Key Points
  3. Methodology at a Glance
  4. Distinguishing CIBC’s Mobile Banking App
  5. No. 1: Security and Control
  1. No. 2: Transfers
  2. No. 3: Account Management
  3. No. 4: Alerts
  4. No. 5: Digital Money Management
  5. No. 6: Customer Service
  1. Methodology
  2. Survey Demographics
  3. Read Next
  4. Media Gallery

Access All Charts and Data

Gain access to reliable data presented in clear and intelligible displays for quick understanding and decision making on the most important topics related to your industry, included at no extra cost.
Gain Access to Insider Intelligence →
Log in to Insider Intelligence

authors

Michael Tattersall

Contributors

Na Li
Director, Primary Research
David Morris
Principal Analyst
Daniel Van Dyke
VP, Content

Related Charts & Analysis

Abra raises $55M as crypto demand spreads beyond trading
Article
Abra raises $55M as crypto demand spreads beyond trading
Wise joins retail investing bandwagon with beta test
Article
Wise joins retail investing bandwagon with beta test
Later-stage funding rounds dominate maturing UK fintech sector
Article
Later-stage funding rounds dominate maturing UK fintech sector
Monzo’s ‘Flex’ BNPL product resembles a credit card—and could prove lucrative
Article
Monzo’s ‘Flex’ BNPL product resembles a credit card—and could prove lucrative
DoorDash defends its delivery data
Article
DoorDash defends its delivery data
Early success of Fifth Third’s deal for healthcare neobank augurs well for its bottom line
Article
Early success of Fifth Third’s deal for healthcare neobank augurs well for its bottom line
India and Singapore set to simplify cross-border transfers
Article
India and Singapore set to simplify cross-border transfers
The neobank threat is on the rise—but incumbents already have enough ammunition to meet it
Article
The neobank threat is on the rise—but incumbents already have enough ammunition to meet it
Citi and Verizon bring real-time payments to billing system
Article
Citi and Verizon bring real-time payments to billing system
Funding Snapshot: Grow Credit, Self Financial, & TomoCredit
Article
Funding Snapshot: Grow Credit, Self Financial, & TomoCredit
Many US adults are first taught about investing by nonprofessionals
Article
Many US adults are first taught about investing by nonprofessionals
QED closes $1.05B funds as fintech funding shows no sign of slowing down
Article
QED closes $1.05B funds as fintech funding shows no sign of slowing down
Trading app set to triple valuation thanks to India’s huge user acquisition opportunities
Article
Trading app set to triple valuation thanks to India’s huge user acquisition opportunities
Embroker doubles down on cyber insurance despite flagging SMB interest
Article
Embroker doubles down on cyber insurance despite flagging SMB interest
Goldman’s GreenSky deal will help Marcus bulk up in consumer lending
Article
Goldman’s GreenSky deal will help Marcus bulk up in consumer lending

Latest Reports

US Digital Ad Spending by Industry 2021
Report
US Digital Ad Spending by Industry 2021
The US Digital-Only Banking Revolution
Report
The US Digital-Only Banking Revolution
Global Mobile Messaging Forecast 2021
Report
Global Mobile Messaging Forecast 2021
The Power of Amazon
Report
The Power of Amazon
UK Mobile Banking Emerging Features Benchmark 2021
Report
UK Mobile Banking Emerging Features Benchmark 2021
Germany Digital Ad Spending by Industry 2021
Report
Germany Digital Ad Spending by Industry 2021
The Banking Heads of Digital Report
Report
The Banking Heads of Digital Report
US Out-of-Home Ad Spending 2021
Report
US Out-of-Home Ad Spending 2021
TV Ad Measurement 2021
Report
TV Ad Measurement 2021
Ad Targeting 2021
Report
Ad Targeting 2021
Canada Email Commerce 2021
Report
Canada Email Commerce 2021
Payments and Digital Commerce Platforms
Report
Payments and Digital Commerce Platforms
UK Consumers Across Income Brackets
Report
UK Consumers Across Income Brackets
Smart Hospitals
Report
Smart Hospitals
Mcommerce Forecast 2021
Report
Mcommerce Forecast 2021

Popular on Insider Intelligence

US Digital Ad Spending by Industry 2021
Report
US Digital Ad Spending by Industry 2021
Global Mobile Messaging Forecast 2021
Report
Global Mobile Messaging Forecast 2021
US B2B tech ad spending increased by 50% in 2020
Article
US B2B tech ad spending increased by 50% in 2020
Ad-supported viewing makes up half of digital video viewers
Article
Ad-supported viewing makes up half of digital video viewers
3 burning questions about retail and ecommerce
Article
3 burning questions about retail and ecommerce
How Amazon is leveraging its non-ecommerce retail
Article
How Amazon is leveraging its non-ecommerce retail
Forecast: Just how big is Amazon Prime and how fast will it grow?
Article
Forecast: Just how big is Amazon Prime and how fast will it grow?
Why Amazon is launching its own TV, Peloton apparel, and how lululemon is doing so well
Audio
Why Amazon is launching its own TV, Peloton apparel, and how lululemon is doing so well
China’s conviction to reshape media to its image upends digital marketing world
Article
China’s conviction to reshape media to its image upends digital marketing world
The US Digital-Only Banking Revolution
Report
The US Digital-Only Banking Revolution
Sizing the mobile messaging app opportunity for marketers
Article
Sizing the mobile messaging app opportunity for marketers
How using AI to create predictive insights can give publishers an edge
Article
How using AI to create predictive insights can give publishers an edge
D2C brands' next playbook, loyalty program expectations, and the significance of context
Audio
D2C brands' next playbook, loyalty program expectations, and the significance of context
How Amazon, Walmart, and Target compare in digital grocery sales
Article
How Amazon, Walmart, and Target compare in digital grocery sales
Buying groceries online, secondhand marketplace apps, and virtual try-on technology
Audio
Buying groceries online, secondhand marketplace apps, and virtual try-on technology

Latest Forecasts

Connected TV, US
Forecasts
Connected TV, US
YouTube, US
Forecasts
YouTube, US
AVOD, US
Forecasts
AVOD, US
Free Premium Video Streaming Viewers, US
Forecasts
Free Premium Video Streaming Viewers, US
Usage-Based Insurance Drivers, US
Forecasts
Usage-Based Insurance Drivers, US
Wireless Network Connections, US
Forecasts
Wireless Network Connections, US
Mobile Phone Service Subscriptions, US
Forecasts
Mobile Phone Service Subscriptions, US
Verizon Wireless, US
Forecasts
Verizon Wireless, US
AT&T Mobility, US
Forecasts
AT&T Mobility, US
T-Mobile US, US
Forecasts
T-Mobile US, US
Sprint, US
Forecasts
Sprint, US
China Mobile, China
Forecasts
China Mobile, China
China Telecom, China
Forecasts
China Telecom, China
China Unicom, China
Forecasts
China Unicom, China
KT, South Korea
Forecasts
KT, South Korea

"Behind the Numbers" Podcast

The Weekly Listen: Facebook's Ray-Ban smart glasses, branded gaming, and getting noticed
Audio
The Weekly Listen: Facebook's Ray-Ban smart glasses, branded gaming, and getting noticed
Why Amazon is launching its own TV, Peloton apparel, and how lululemon is doing so well
Audio
Why Amazon is launching its own TV, Peloton apparel, and how lululemon is doing so well
D2C brands' next playbook, loyalty program expectations, and the significance of context
Audio
D2C brands' next playbook, loyalty program expectations, and the significance of context
Amazon delivers healthcare, price transparency, and Alexa's 'refill my prescription' feature
Audio
Amazon delivers healthcare, price transparency, and Alexa's 'refill my prescription' feature
Buying groceries online, secondhand marketplace apps, and virtual try-on technology
Audio
Buying groceries online, secondhand marketplace apps, and virtual try-on technology
The Weekly Listen: Life won't be the same, WhatsApp's GDPR fine, and is convenience king?
Audio
The Weekly Listen: Life won't be the same, WhatsApp's GDPR fine, and is convenience king?
Publisher takeaways, ads placed around news, and does targeting get too much credit?
Audio
Publisher takeaways, ads placed around news, and does targeting get too much credit?
Amazon's department store, Warby Parker's going public, and is the online shopping boom over?
Audio
Amazon's department store, Warby Parker's going public, and is the online shopping boom over?
Where Disney+ goes from here, MRC takes Nielsen's accreditation, and the future of Apple TV+
Audio
Where Disney+ goes from here, MRC takes Nielsen's accreditation, and the future of Apple TV+
The Weekly Listen: The attention recession, why shoppers like SMS, and is Peloton slowing down?
Audio
The Weekly Listen: The attention recession, why shoppers like SMS, and is Peloton slowing down?
How time spent on smartphones is changing, why Apple's on fire, and new app store rules
Audio
How time spent on smartphones is changing, why Apple's on fire, and new app store rules
How time spent on smartphones is changing, why Apple's on fire, and new app store rules
Audio
How time spent on smartphones is changing, why Apple's on fire, and new app store rules
The what, where, and how of back-to-school shopping, facial recognition, and retailer TV ads
Audio
The what, where, and how of back-to-school shopping, facial recognition, and retailer TV ads
Around the World with … Sports Viewership: Consuming major sports and Olympics viewership
Audio
Around the World with … Sports Viewership: Consuming major sports and Olympics viewership
Where advertisers stand on TikTok, Facebook's 'meaningful pivot,' and Reels on the blue app
Audio
Where advertisers stand on TikTok, Facebook's 'meaningful pivot,' and Reels on the blue app