CIBC

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Delta Award Winning Story

Transforming the modern banking experience by providing real-time insights into client needs

Success Metrics

Rapid access to insights, allowing for quicker decision-making

Enhanced research flexibility, leading to improved client experience feedback

Alignment of research outcomes with key client experience metrics

Overview

CIBC provides personalized financial solutions to clients across North America. With a workforce of 48,000 employees, the company offers a comprehensive range of financial products and services to 14 million personal banking, business, and public sector clients in Canada, the United States, and worldwide.

The company's strategic goals focus on simplifying banking for clients, enhancing the digital client experience, and strengthening relationships with them. To achieve these objectives, the client experience team sought to understand how clients make decisions, as well as their motivations, perceptions, and expectations regarding their relationship with CIBC.

Program Goals:

Quickly enhance CX measurement for rapid insights
Improve CX programs with agile, self-directed research initiatives
Increase visibility of insights to align with CIBC's goals of data-driven decision-making

Business Opportunity

CIBC’s Client Experience (CX) team aimed to enhance their CX programming by adopting a more agile and flexible tool for conducting ad-hoc, self-directed research. They needed the capability to swiftly process CX feedback and derive insights using various methodologies.

Given the significant changes in consumer behavior and expectations within the financial industry, the team is responsible for providing insights into both in-person and digital experiences. This ensures that CIBC can continuously gather client feedback.

To achieve this, the CX team required the ability to conduct flexible survey activities that reach clients through diverse channels and easily share the results with internal CIBC partners.

Solution

CIBC’s CX Measurement team utilizes a research strategy that enables quick and effective connections with both current and potential clients. Surveys are distributed using various methods, including sample lists and QR codes displayed in banking centers.

With this diverse feedback, the team can provide customized insights tailored to everyone from executive levels to frontline teams. They also gather specific feedback on Banking/Innovation Centers and different lines of business. This approach allows the team to efficiently manage varying research initiatives and scale their efforts as needed.

The team employs shareable interactive dashboards to distribute results to relevant stakeholders. For comprehensive data analysis, they use tools such as cross-tabulations, word clouds, heatmaps, and highlighter tools, all of which enhance program understanding and alignment.

Additionally, ad-hoc surveys serve as an internal communication tool, providing an easy way to gather feedback on key strategic priorities and organizational initiatives.

Results

When CIBC was preparing to open their new CIBC Experience Centre located at Yorkdale Shopping Centre in Toronto, Ontario, they recognized the importance of understanding how clients felt about the innovative space. To gather real-time insights at key client touchpoints, the team collected feedback from anonymous visitors to the banking center via QR codes located at key strategic locations within the site. This continuous direct feedback has provided valuable insights into how clients engage with the space.

Based on their findings and feedback methodology, CIBC has established a new standard for conducting actionable research that meets clients where they are. The results from this research have supported the business case for replicating this research methodology at future new banking center sites.

The CX Measurement team’s program allows the organization to prioritize key CX experiences. The organizational metrics supported by the team include improvements in all areas related to client experience, with a particular focus on overall satisfaction. The team now has the capability to deliver agile ad-hoc research as frequently as needed by internal CIBC partners, a deliverable not easily supported by the team previously.

"Our team's feedback strategy enables us to quickly gather insights, providing our internal partners with the information they need to take action. By engaging with our clients at key touchpoints, we acquire timely feedback that is relevant and significant for enhancing the overall client experience."

- Sherry Browne, Director, Client Experience Measurement