CIBC has launched a new feature in its mobile app called ‘CIBC Insights,’ which leverages artificial intelligence (AI) to offer users personalized recommendations based on their financial history.
Specifically, the app will provide users guidance to support better everyday spending decisions while notifying them of savings opportunities and unusual transactions.
Clients can also get insights into their monthly spending, cash flow, subscriptions and savings, through such messages as “Did you notice this recurring bill was higher than usual this month?” or “It looks like you have $76 in your chequing account that can be safely moved into your savings.”
The CIBC mobile app can be downloaded for free on Android and iOS.
It’s worth noting that TD and BMO also offer similar functionality in their respective mobile apps.