The Tribune

By FAY SIMMONS

Tribune Business Reporter

jsimmons@tribunemedia.net

CIBC last night launched its MasterCard credit card partnership with the Jet Blue airline.

Dr Jacqui Bend, CIBC Caribbean (Bahamas) managing director, said the tie-up came about after the bank decided to expand its products and services due to the increase in digital banking.

She explained that many consumers switched to online banking during the COVID-19 pandemic and have continued using the platform to access services.

“The announcement of the partnership is another step in our transformation to make sure that we become the best omni channel banking services in the Caribbean,” Dr Bend said.

“We started out this journey several years ago when it was propelled by the COVID pandemic, when we were all under lockdown and our clients - along with our staff - had to do our banking, and we found that online banking was the easiest way, the most convenient way, to do banking. With that in mind we needed to form the most superior services and products, this one being one of them.”

Dr Bend said both the banking and airline industry have been rebuilding post-COVID, and more consumers have opted to use digital banking services due to the convenience they offer. She added that the majority Canadian-owned bank is undergoing a “transformation”, and The Bahamas is an “integral part of that transformation strategy”.

She said: “Like the airline industry, which has been rebuilding and innovating for the past few years, having been through a pandemic, we too at CIBC Caribbean are looking at best products and services for clients on a daily basis.

“We are seeing it recently day-by-day that our clients are moving more to online channels because you can do your banking any time and anywhere, and we want to ensure that trend continues.

“Our transformation has not only been digital. We are taking a long, hard look at our business, and we are making some strategic changes throughout our region and The Bahamas is an integral part of that transformation strategy.”

Dr Bend said the partnership will benefit consumers that frequently travel to the US to visit family and friends or to conduct business. She said: “This project with Jet Blur as our partner has brought close ties to us across the region because I think most of us, if not all, have relatives in the US or we pay to go to the US on vacation or maybe some retail therapy.

“It means that we now can be rewarded for this travel by getting some tru blu points to travel free, to then have money to shop or to relax for those who want to relax, and MasterCard, also our strategic partner this venture, one of the major credit cards in the region and the world, has partnered with us and we are developing that relationship.”