Launch mobile banking app.
CIBC, the first bank in Canada to launch a Mobile Banking App, has extended its suite of mobile banking innovations with eDeposit, a new feature that lets personal and small business clients deposit cheques to their CIBC account simply by taking a photo of the cheque with their mobile device.
“The convenience of depositing cheques simply by taking a picture with your phone means you can make a deposit where, how and when you would like, which will save CIBC’s clients time and provide faster access to those funds,” said David Williamson Senior Executive Vice President and Group Head, Retail and Business Banking, CIBC. “Whether you are a small business owner with a handful of customer cheques at the end of day or an employee getting your weekly paycheque, you can literally make a deposit within seconds.”
Adding a mobile cheque deposit feature was the top request identified by CIBC clients, who deposit millions of cheques each year. As with all of CIBC Mobile Banking Apps, the CIBC eDeposit feature is safe and secure. None of the financial information is stored on your device and all wireless transmissions are securely encrypted
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more
