TORONTO, July 5, 2022
/CNW/ - CIBC (TSX: CM) (NYSE: CM) today announced a collaboration
with Willful, an online platform for will creation, reflecting the
growing demand for digital solutions for estate
planning.
"Canadians want simple online financial solutions to help them
manage their finances today and plan for the future, and working
with Willful enables our clients to have the peace-of-mind that
comes with having a will and plan for their estate," says
David Attard, Senior Vice-President,
Digital Banking and Enablement, Personal and Business Banking,
CIBC. "With this new collaboration, we're encouraging clients to
have important conversations and get these vital documents in
place, leveraging the convenience of digital to make it as easy as
possible."
Research from CIBC shows that cost and convenience are important
factors for many Canadians who have yet to create a will. More than
half of Canadians have no legal will, and among these Canadians,
more than half believe online will creation would be a convenient
option.
With cost and convenience top of mind for so many, the CIBC
collaboration with Willful provides online banking clients who have
non-complex will requirements with a simple and convenient way to
create a will starting at $79 (20%
off regular price), in as little as 20 minutes, via Willful's
platform. Clients can also create power of attorney documents in
case of emergency, compile a list of their assets, and record their
funeral and burial wishes. Clients are entitled to make free
updates as their life changes. Willful is currently available in
Alberta, British Columbia, Manitoba, New
Brunswick, Nova Scotia,
Ontario, Québec and
Saskatchewan.
"We spend our lives trying to grow our wealth, but we don't
always plan for how our assets should pass on to our loved ones,"
says Erin Bury, Founder and CEO,
Willful. "While many people put it off, will and estate planning
often provide peace of mind. Getting these important end of life
financial decisions out of the way can dramatically ease the burden
on loved ones."
The collaboration with Willful is the latest development in
CIBC's efforts to connect clients with online tools that make
banking and financial planning easy. CIBC recently received the
highest ranking in overall customer satisfaction for online banking
among Canada's Big Five banks according to the J.D. Power 2022
Canada Online Banking Satisfaction Study.
Other recent digital initiatives from CIBC include:
- CIBC's new Interac e-Transfer® feature that allows
clients to set up recurring or
future-dated Interac e-Transfer payments;
- CIBC's AI-based Virtual Assistant, which can help clients
perform banking transactions and answer questions about everyday
banking;
- CIBC's Digital ID Verification, which offers fast, easy and
secure onboarding for new CIBC clients through the CIBC website or
mobile banking app; and,
- CIBC's instant digital card replacement, available to most
clients holding a CIBC personal or business credit cards which in
the event their card is lost or stolen, allows clients to get
immediate access to a replacement card which can be used with Apple
Pay or Google Pay.
More about the offer can be found in the CIBC Mobile Banking app
or after signing in at CIBC.com.
Research Poll
Disclaimer:
From April 26 to 27, 2022 an
online survey of 1,519 randomly selected Canadian adults who
are Maru Voice Canada panelists was
executed by Maru/Blue. For comparison purposes, a probability
sample of this size has an estimated margin of error (which
measures sampling variability) of +/- 2.5%, 19 times out of
20. The results have been weighted by education, age, gender and
region (and in Quebec, language)
to match the population, according to Census data. This is to
ensure the sample is representative of the entire adult population
of Canada. Discrepancies in or between totals are due to
rounding
About CIBC
CIBC is a leading North American financial institution with
13 million personal banking, business, public sector and
institutional clients. Across Personal and Business Banking,
Commercial Banking and Wealth Management, and Capital Markets
businesses, CIBC offers a full range of advice, solutions and
services through its leading digital banking network and locations
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/en/about-cibc/media-centre.html.
About Willful
Willful is on a mission to change the way Canadians prepare for
and deal with death. Their first product is an online platform that
makes it affordable, convenient, and easy for Canadians to create a
legal will online. The platform provides simplified estate planning
services (creation of a Legal Will, Power of Attorney for Personal
Care, and Power of Attorney for property), enabling consumers to
create a will and/or power of attorney by following a clear
step-by-step process. Willful's platform was developed in
collaboration with leading estate lawyers, and has pricing plans
starting at $99. Willful is based in
Toronto, and it is currently
available to residents of Ontario,
Québec, British Columbia,
Saskatchewan, Alberta, Nova
Scotia, New Brunswick, and
Manitoba.
SOURCE CIBC