We recognize that the long-term success and viability of CIBC is closely linked to the confidence and trust of our clients. We aim to build deep and enduring client relationships by putting our clients at the centre of everything that we do. Every day, our 45,000 team members are focused on bringing to life our vision of being the leader in client relationships.
Our medium-term goal is to be #1 in client experience. In support of this goal, a member of our Executive Committee is leading the charge to embed our client-focused culture throughout the organization and align all of our business units towards achieving this goal.
Bank-wide measures are used to track client experience including Ipsos Customer Satisfaction Index Net Promoter Score, J.D. Power Canadian Retail Banking Satisfaction Study and other internal client experience insight and research studies managed by third-party providers.
Our compensation structure is aligned to our client experience goals with variable compensation tied directly to client experience performance.
Over the past several years we have made meaningful progress towards building a client-first culture and improving the client experience. Since 2013 our client experience scores have outpaced those of the peer average.
This year we made significant progress in closing the gap to #1 as measured by both client experience and client loyalty. We’ve closed the gap to #1 in our peer group by 2.5 points as measured by Ipsos Customer Satisfaction Index Net Promoter Score (NPS)(1). NPS is an important measure of client loyalty, as it reflects the likelihood of a client referring CIBC to family and friends. In the J.D. Power Canadian Retail Banking Satisfaction Study, we improved by 1 point in the gap to #1 in our peer group(2).
(1)Ipsos CSI survey rolling four quarter total as at August 2017. (2)J.D. Power annual survey conducted in April-May 2017, with results reported July 2017. (3)Gap to #1 is a measure of CIBC’s ranking relative to Canada’s Big 5 banks.
Top overall scores for online and mobile banking functionality among the five largest Canadian banks
Ranked #1 by retail advisors for 2017 in the Investment Executive magazine Report Card on Banks and Credit Unions
North American Retail Bank of the Year by Retail Banker International magazine
Best overall mobile banking services in Canada for 2017 by Surviscor
Top Canadian Prime Broker at the 2017 Canadian Hedge Fund Awards
Diamond Award for Customer Experience from Clarabridge
Best Innovation in Retail Banking in Canada for 2017 byInternational Banker magazine
Best Treasury and Cash Management Bank in Canada for 2017 by Global Finance magazine
Canada Derivatives House of the Year byGlobalCapital
Atlantic Trust named Best Private Client Investment Platform for 2017 by Family Wealth Report
