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Banks of Canada
Simplii Financial
Industry
Financial services
Founded
November 1, 2017
Headquarters
Toronto, Ontario
,
Canada
Parent
Canadian Imperial Bank of Commerce (CIBC)
Website
www.simplii.com
Simplii Financial is a Canadian direct bank and the digital banking division of the Canadian Imperial Bank of Commerce (CIBC). It offers no-fee chequing and savings accounts, a VISA credit card, Guaranteed Investment Certificates (GICs), mortgages and mutual funds. These savings and investment products are also eligible for registration under a Tax-Free Savings Account (TFSA) or a Registered Retirement Savings Plan (RRSP).
As of 2023, the bank has almost two million clients.[1]
In 2021, Simplii Financial became the first in Canadian banking to enable digital identity verification – giving international students and newcomers the opportunity to open accounts completely digitally before arriving in Canada.[2]
In June 2023, Simplii rebranded its look including logo and colours – replacing original navy blue and red tones with magenta pink, lime green and black. On its website, Simplii stated the changes set it “apart from the more old-fashioned competition.” A new slogan of "Start your Engines" was also announced. [3]
^"About us". Simplii Financial. May 31, 2023.
^"Simplii Financial first Canadian banking brand to enable international students and newcomers to set up banking before moving to Canada". Yahoo Finance. January 6, 2022.
^"Our New Simplii Branding is Here". June 15, 2023.
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