CIBC has entered into a data access agreement with Utah-based B2B data exchange MX.
By using application program interface (API) technology, CIBC’s 11 million clients will no longer need to share their banking login ID and password to connect their banking information with third-party fintech applications that partner with MX.
“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,” said Chris Sweetland, Senior Vice-President, Payments Strategy & Transformation, CIBC.
“By providing clients with the ability to securely and reliably share their financial data with the tools and apps they prefer, CIBC is supporting them to make more informed decisions about their finances, so they can achieve their ambitions.”
The fintech applications that CIBC customers will now be able to access cover a range of financial services including personal financial management, budget tracking, and credit-building tools.
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