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.