Banking made easier with CIBC FirstCaribbean’s mobile banking upgrades

CIBC FirstCaribbean has put the power to monitor their debit and credit card accounts for fraud in the hands of its clients by introducing client-controlled anti-fraud tools, including a geo-location service, transaction controls (including the ability to Freeze Your Card) and real-time alerts to its award winning mobile banking app, just in time for the holidays.

The new features demonstrate the importance of clients’ card safety and security to CIBC FirstCaribbean.

“The bank is committed to putting industry leading mobile banking capabilities in our clients’ hands,” says Trevor Torzsas, managing director Cards and Customer Relationship Management.

“We listened to our clients and added these enhancements to meet their needs and demands. We added a two-step verification process (fingerprint/touch ID sign in), as well as the capability for card users to transfer funds and track and monitor their transactions from their smartphones. We are proud to now offer new capabilities that add an extra layer of protection.”

The new services are built on Visa technology called Mobile Location Confirmation and Freeze Your Card service, the first features of their kind to be offered by a bank within the English-speaking Caribbean region.

The Freeze Your Card feature allows clients to place a temporary freeze on their debit and credit cards if they misplace or lose their card. Clients will be able to reactivate their card when they have located their lost card – all through their mobile phone. 

Clients are also now able to make use of the Mobile Location Confirmation feature. Enabling this feature notifies CIBC FirstCaribbean of the client’s location and compares the location of the client to their card’s location. This feature is available on credit cards only. Additionally, the enhanced mobile banking app allows clients to receive real time alerts as soon as any transaction is processed on their debit or credit card.

The features were made available to clients throughout the region last week. Users can opt in or out through their CIBC FirstCaribbean mobile banking app. The enhancements are available on both Android and Apple devices.

“So far, within days of being available in the app stores, a significant number of CIBC FirstCaribbean clients have opted for the new upgrades. The successful uptake of the features are a result of the bank’s client centric app development. Clients have asked for better fraud protection and we gave it to them”, Torzsas said.

A little over a year ago, the bank launched the successful mobile banking app throughout the region. The app joined CIBC FirstCaribbean’s convenience channels, including the Internet banking and ABM services. The continual enhancements of the app are a sign of CIBC FirstCaribbean’s commitment to provide a banking experience that fits the lives of its clients. According to Torzsas, more digital channel enhancements are in motion to be rolled out in the coming year.