CIBC adds 200 specialized advisors, new technology to support Canadian entrepreneurs

TORONTO, Dec. 11, 2019 /CNW/ - Today CIBC announced it has added more than 200 business banking specialists in the last 18 months in support of its relationship-based strategy that focuses on helping business owners achieve their ambitions. In addition to expanding its dedicated business advisory teams, CIBC has equipped its advisors with market-leading tools to support entrepreneurs at all life stages, from start up to expansion, managing cash flow to business transition.

"We are supporting Canadian business by elevating our specialized advisory services, providing greater banking flexibility, and building world-class digital capabilities that help business owners and professionals to focus on their bigger picture," said Andrew Turnbull, Senior Vice-President, Business Banking, CIBC. "We are committed to helping Canadian businesses thrive in today's world."

CIBC's Business Banking specialist advisor teams provide trusted business financial advice, including cash management consulting to improve business cash flow and expansion financing to support a scaling business. The bank has successfully introduced these specialized roles in key markets and will continue to add more in 2020.

CIBC has complemented its relationship-based advisory services with new technology to elevate the banking experience for Canadian entrepreneurs. This includes CIBC's Business Solutions Navigator, a guided discovery tool which helps our business clients to frame their vision and goals, explore financial needs and receive a customized analysis with actionable insights to enhance their business operations. In addition, our interactive cash flow planning tool allows business clients to work with their business advisor to run different growth and cash flow scenarios. This simulation helps business owners plan, improve their bottom line and grow their companies.

"Recognizing the critical role that small businesses and professional entrepreneurship play in Canada's economy, we are expanding our expert advisory service and innovative solutions to help drive their growth," added Mr. Turnbull.

This past year alone, CIBC launched new capabilities to give entrepreneurs and professionals greater flexibility and make managing their business finances easier, including:

• CIBC SmartBanking™ for Business, a first-of-its-kind digital platform that integrates banking, and leading cloud accounting and payroll solutions to give business owners a comprehensive view of their finances all in one place
• The ability for business owners to digitally and securely open new business accounts and register for CIBC SmartBanking™ for Business from a mobile device without any need to visit a banking centre
• Helping to reduce total banking fees by providing monthly fee waiver options in four of CIBC's most popular Business Operating Accounts
• CIBC Global Money Transfer™ for Business, which enables business clients to send money to more than 80 countries with no transfer fees
• Launching packages catered to specific professions, including physicians, dentists, optometrists and medical students

"CIBC's unique combination of relationship experts providing trusted advice together with its leading digital banking and payments solutions demonstrate our bank's continued support of entrepreneurship across Canada," added Mr. Turnbull.

To learn more about CIBC's Business Banking services, visit the CIBC website here.

About CIBC

CIBC is a leading Canadian-based global financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and Small Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/en/about-cibc/media-centre.html.

SOURCE CIBC