CIBC chooses MX to enhance financial tools and apps offering

CIBC has announced a data access agreement with MX to enhance the CIBC client experience through secure data sharing, providing clients with a safe and seamless way to share their financial information.

The collaboration with MX reflects CIBC’s continual commitment to innovation and will enable modern, digital client experiences.

Using the MX platform will ensure simplicity for clients of CBIC when is comes to getting a 360′ degree view of their finances and it will also help with bringing account data together from multiple financial services providers. The view is to offer CIBC customers greater control over their finances with a simple set of tools at their fingertips powered via APIs.

This partnership comes at a particularly timely moment against a backdrop of potential news still to be announced around a new Open Banking framework for the Canadian financial services ecosystem.

Chris Sweetland, Senior Vice-President, Payments Strategy & Transformation, CIBC said; “Our clients are increasingly managing their banking and finances via digital channels and tools, and we’re committed to supporting them with secure and convenient experiences,”

Jane Barratt, Chief Advocacy Officer, MX commented: “We’re pleased to announce today’s agreement, which represents an expansion of our work to build meaningful experiences for CIBC clients. This agreement will result in more direct API connections, which provides millions of Canadians greater control of their financial data to decide who they share their data with and for what purposes, which benefits both clients and financial institutions.”