Dawgen Global: CIBC FirstCaribbean leads way in banking innovations - Business

Saturday, December 29, 2012

CIBC FirstCaribbean leads way in banking innovations - Business - JamaicaObserver.com

CIBC FirstCaribbean leads way in banking innovations - Business - JamaicaObserver.com:

CIBC FirstCaribbean International Bank (Jamaica) has led the way with a number of innovations that are taking hold on the Jamaican banking landscape. It was the first to offer a Visa Debit Card and to lead the way with a mobile banking offering that allows its customers to monitor their accounts on their handsets.

The bank has not trumpeted its successes, opting to remain low key. Last year Nigel Holness took over from the esteemed Clovis Metcalfe as managing director. What are his thoughts on the last year as managing director and how does he regard the performance of the bank?

Managing director Nigel Holness

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Speaking with Caribbean Business Report from the headquarters of CIBC FirstCaribbean (Jamaica) at Knutsford Boulevard, New Kingston, Holness said: "This last year has been one of excitement. Yes, there have been challenges, particularly with the global economy and the downturn here at home, but with the team that I have around me who are doing a great job of driving the customer experience, the sky is the limit. We are leading the way in Jamaica in introducing innovative products and services."

Holness has taken over at a time when the bank has undergone a rebranding exercise. It has returned to its roots and has re-established a distinct connection to CIBC.

Holness explained: "We are connected to CIBC which is the fourth largest bank in the world. We are lifting the FirstCaribbean brand together with that of CIBC. Many people associate FirstCaribbean with CIBC, but the fact is the service remains the same. What is critical for us is customer loyalty.

"Recently we had an event for Peter McConnell who has now retired from our board of directors. His family has been banking with us from 1921 — that's 90 years. At a reception we had for him he read some notes from his father's journal about the first loan he got from us (back in 1921), and the manager's response to that loan. That kind of service has not changed. Peter (McConnell) explained to us that he operated the first drive-in teller for CIBC which was an innovation we introduced to the Jamaican market."