CIBC launches Remi to aid transfer of money

CIBC (TSX: CM) (NYSE: CM) announced recently the introduction of Remi, the digital assistant designed to help clients send no-fee Global Money Transfers (GMT). Remi offers clients and people using Facebook Messenger the ability to check foreign exchange rates, keep track of exchange rate fluctuations with recurring alerts and get answers to product questions.

Remi is capable of alerting clients to an exchange rate they set themselves, with an automatic option for sending a money transfer at that time.

This means Remi will notify clients using Messenger, on mobile or online, when the exchange rate has reached the selected status and immediately offer to send a global remittance, elevating the client experience by making international money transfers faster and more accessible.

“We are excited about the way Remi is making it easier to manage sending money abroad,” says Vineet Malhotra, managing director and head of Alternate Solutions Group & Retail Solutions Group, CIBC.

“You’ll always know exactly how much money you’re sending and the exchange rate you’ll receive, all without upfront fees. By enhancing existing technologies and building new digital solutions, we continue to deliver modern convenient banking for our clients, how and when they want.”

CIBC Global Money Transfer launched in October 2015 allowing CIBC clients to send money to over 50 countries around the world with no fees. Recently added to the roster are Mexico, South Korea, Bangladesh, United Arab Emirates and Singapore.

CIBC Capital Markets developed Remi in collaboration with CIBC Live Labs, the bank’s technology incubator. Remi will be available in French and English at first, with new languages to be released in the coming months.