CIBC FirstCaribbean International Bank has expanded its digital footprint with the transformation of one of its full-service branches into an advisory centre that will help transition clients to better utilise the financial institution’s digital services.
The bank said its Sunset Crest, St James branch will be turned into a fully digital operation centre.
“As we reopen the branch, it will now transition to an advisory centre where our officers will help to transition clients to better utilise the digital services available to them,” Managing Director for Barbados and the Eastern Caribbean Donna Wellington said.
“Patterned after our Rendezvous location, you will not see the traditional tellers, but our Smart ABMs will allow for all those transactions now on a self-serve basis like paying your credit card, making deposits and withdrawals, transferring funds and querying account balances,” she explained to guests during the recent reopening ceremony.
Wellington further explained that the branch would service the bank’s Relationship Managed Platinum and Business Banking clients by appointment and provide the value-added services of facilitating mortgage and loan applications.
“We are well on our way with our digital transformation journey so we will also help you with understanding utilising the services associated with the digital offering,” she said.
A year ago, CIBC FirstCaribbean International Bank officials reported a significant increase in the number of customers shifting to digital banking, indicating that there was a double-digit increase in the percentage of transactions being done via automated banking machines (ABMs), the CIBC mobile banking app, online banking app or corporate online banking application.
The financial institution, which was recently named ‘Best Digital Transformation Bank 2022’ by The European, a London-based global financial publication, also has close to 100 per cent of its wire payments going to the US-dollar market being done online.
Currently, more than 60 per cent of the bank’s clients are using the mobile banking app and online banking platform.
Following the disruption that the COVID-19 pandemic caused to regular business operations, bank officials decided to use the Sunset Crest location to manage the moratoria on loans and mortgages for its clients.
Chief Executive Officer of CIBC FirstCaribbean International Bank Mark St Hill gave the assurance that the financial institution would continue to ensure it anticipates, meets and surpasses the expectations of clients.
He said the change in operation at the Sunset Crest location was a reflection of the “omnichannel approach” on which the bank had embarked.
“Our research evidence shows that our clients are looking for a strong, secure bank offering that combines physical branches providing value-added services, relationship services for key offerings like corporate banking, business banking, platinum banking, card services and mortgages, combined with full digital capabilities for those requiring digital banking experience for those services you can do yourself,” St Hill explained.
“At the core of our approach is a strong digital presence supported by a modern branch network which is fit for purpose. That purpose is to anticipate and meet your needs.”
Acknowledging that there were still some transactions that required a face-to-face engagement, St Hill gave the assurance that CIBC will always offer that option.
“In essence, we believe that banking must be safe, secure, fast, comfortable and convenient, and we have invested heavily in both our brick-and-mortar operations as well as our virtual spaces to ensure that your experience in either sphere is first class,” he said.
Pointing to some specific projects, he highlighted that the bank had been upgrading and repurposing its facilities across the region, investing more than $45 million over the last three years.
“We are building a bigger and better digitally enabled bank through the delivery of newer products and faster services while maintaining and strengthening our traditional branch network,” said St Hill. (MM)