New app lets Canadians apply for a mortgage with a tap of their smartphone

CIBC Hello Home™ is first-of-its-kind app in Canada; created at CIBC Live Labs innovation hub

TORONTO, May 17, 2016 /CNW/ - A first in the Canadian market, CIBC (TSX: CM) (NYSE: CM) today introduced a stand-alone app that allows you to apply for, negotiate and receive approval for a mortgage with just a few taps of a smartphone – all with the dedicated support of a Mortgage Specialist via in-app messaging. 

Developed at Live Labs, CIBC's technology & innovation hub at MaRS Discovery District in Toronto, CIBC Hello Home™ offers new levels of convenience and flexibility for accessing mortgage services.

"CIBC is at the forefront of developing and implementing mobile-driven solutions that address the clear shift in how Canadians access banking services," says Aayaz Pira, Vice-President, Digital Channels, CIBC. "Through our work with the country's top emerging tech talent at CIBC Live Labs we will continue to develop products and services that meet clients' growing digital expectations."

Key features of CIBC Hello Home™ include:

• Document digitization: Securely upload photos of required documents protected by secure file sharing technology
• In-app messaging: A dedicated Mortgage Specialist is available to answer any questions through secure in-app messaging
• Save and resume: The application can be saved and resumed at any time. Clients can review and agree to terms and conditions and submit with a tap on their smart phone
• Joint application: A maximum of two borrowers can use the app, and applicants can either use the same smartphone or use separate phones to complete their application
• Special rates: Clients benefit from special in-app mortgage rates and have access to mortgage calculators to determine how much they can afford

"With CIBC Hello Home and our expanded CIBC Mobile Banking App we are introducing the next generation of smartphone apps, adding features that go beyond basic customer service to create a mobile banking experience that delivers new levels of simplicity and convenience for our clients," says Mr. Pira.

HGTV's Scott McGillivray to showcase CIBC Hello Home™ app premiering on Facebook Live

Scott McGillivray, host of HGTV's Income Property, is teaming up with CIBC to offer a glimpse of what's happening at the CIBC Live Labs and to learn more about the Hello Home app. Facebook Live with Scott McGillivray takes place on May 31 at 7 PM.

CIBC Hello Home™ is a free download available currently available from the App Store for iPhone 4s and up and requires an iOS 8 and up operating system.

About CIBC
CIBC is a leading Canadian-based global financial institution with 11 million personal banking and business clients. Through our three major business units – Retail and Business Banking, Wealth Management and Capital Markets – CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada with offices in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/ca/media-centre/ or by following on Twitter @CIBC, Facebook (www.facebook.com/CIBC) and Instagram @CIBCNow.

SOURCE CIBC

Image with caption: "CIBC Hello Home™ is first-of-its-kind app in Canada (CNW Group/CIBC)". Image available at: http://photos.newswire.ca/images/download/20160516_C8245_PHOTO_EN_691611.jpg

Image with caption: "Receive approval for a mortgage with just a few taps of a smartphone with the CIBC Hello Home™ app (CNW Group/CIBC)". Image available at: http://photos.newswire.ca/images/download/20160516_C8245_PHOTO_EN_691613.jpg

Olga Petrycki, Director, External Communications, 416-306-9760 or [email protected]