Digital SME onboarding for CIBC customers coming to TT

Above: Owner of Furious Karting in Barbados, Jeremiah Cadogan proudly displaying a new Business Banking Account opened entirely on his mobile phone.

Regional bank CIBC Caribbean recently launched its new Business Banking Digital Client Onboarding (DCO) feature, a modern, mobilefirst solution that allows small entrepreneurs to open business banking accounts entirely online.

The new platform is a significant step forward in the bank’s digital transformation agenda and reinforces its commitment to supporting the growth of small and microbusinesses across the region.

The feature is currently available in Antigua and Barbuda, Barbados, Jamaica, St Kitts and Nevis, and St Lucia, and will be released in the other five territories, including Trinidad and Tobago, in the coming months.

“The new system is designed to remove traditional barriers to opening a business account, providing entrepreneurs with a faster, simpler, and more transparent onboarding experience, replacing paperheavy requirements with streamlined digital interactions. Entrepreneurs can upload required documents, verify details, and complete their business profile from any device, at their own pace,” said Deepa Boucaud, Executive Director, Personal and Business Banking, CIBC Caribbean.

“One of the standout innovations is the dynamic financial activity capture, which allows new or earlystage businesses to provide estimated income and expense information digitally eliminating the need for formal financial statements for low risk sole proprietors. The system also guides users through jurisdiction specific documentation, reducing confusion and ensuring compliance across multiple markets”.

Boucaud said the enhanced onboarding framework delivers stronger compliance controls, improved data quality, and reduced processing times, enabling teams to serve clients more efficiently while maintaining robust Anti-Money Laundering and risk standards.

“The platform also establishes a scalable foundation for future enhancements, including multiowner business onboarding, partnerships, merchant onboarding, and expanded product offerings,” she said.

CIBC Caribbean continues to advance its goal of providing clients with convenient, secure, and usercentred digital experiences empowering entrepreneurs and supporting economic growth across the region.