CIBC launches 'Total View' ONLINE ACCOUNT AGGREGATION SERVICE
Toronto, Canada – February 1, 2002 —CIBC today launched a new online financial account aggregation service making it possible for customers to consolidate and view their financial assets held at CIBC and other online enabled financial institutions in Canada, the U.S. and the U.K.
The service called 'Total View' is initially available to selected CIBC Imperial Service clients participating in a pilot and will then be rolled out to this customer segment in the spring. The service provides customers with secure, one-stop access to their banking, credit card, mortgage, loan and investment accounts on one screen through CIBC online banking.
'The addition of account aggregation is another significant step in improving our online banking offer by giving customers convenient access to and control of their finances,' said Corinne Charette, senior vice-president of CIBC's Internet channel, retail and small business banking. 'We expect that those with accounts across multiple financial institutions will value saving the time and hassle of having to gather their financial information, either manually or by downloads into personal financial management software, each time they wish to review their portfolios.'
CIBC uses account aggregation technology from CashEdge Inc., global specialists in providing online applications to the financial services industry. Cash Edge is a privately-held company based in the U.S.
'The Total View aggregation service perfectly complements CIBC's Imperial Service offer, which provides smart, simple solutions to clients with complex financial needs, ' says Peter Jursevskis, director of strategy and development, CIBC Imperial Service. 'It can help clients interact more effectively with their dedicated financial adviser in building highly tailored financial planning solutions.'
Customer information will be protected by CIBC's privacy policy and security measures that meet all of the bank's stringent standards.
CIBC is a leading North American financial institution offering more than eight million personal banking and business customers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada, in the United States and around the world. CIBC is a leader in electronic banking, with more than 3 million e-banking customers accessing telephone and Internet banking. To find other news releases and information about CIBC, visit the bank's Media Centre at www.cibc.com.