'For other products, applications can be started online but in some cases the customer will shift back to the branch to complete the process.

'This works best with products that have low complexity and are one-time purchases,' he says. Pira says CIBC continues to see interest from its clients in buying banking products remotely. 'In terms of product sales, across the breadth of our product line-up, today CIBC only offers a subset of products for acquisition on our online and mobile channels, and these tend to be more of the mass market products such as deposit accounts, credit cards, insurance products, etc.' Product sales'Clients who actively engage with us through digital channels tend to have a significantly deeper relationship with CIBC,' says Pira. He added that 80% of all CIBC’s retail transactions are now conducted outside the branch, with that figure expected to increase over time. In a June 2015 speech at the Empire Club of Canada in Toronto, CIBC’s CEO and chairman Victor Dodig said that CIBC’s mobile banking log-ins had grown by 36 percent in the past year and now exceeded 30 million a month compared to four million branch visits a month. 'For example, in the last year, we’ve seen strong growth in mobile banking in the 55 plus segment,' he notes. While CIBC’s mobile channels are more popular among its younger clients, it is a misconception that digital channels are only used by younger age groups, Pira says. 'Branch and other high-touch channels continue to be the primary touchpoint for more involved and complex financial products, services and planning needs.' 'Our digital channels continue to see growth in routine transactions, driven by the convenience of anytime, anywhere banking on mobile devices,' he says.

Contact cibc from uk