CIBC has launched a mobile banking application, the bank said Tuesday.

The app gives CIBC clients the flexibility to use their iPhone or iPod touch to check account balances, transfer funds, pay bills and even send Interac email money transfers.

“CIBC is proud to be the first major bank in Canada to offer our clients a Mobile Banking App to make banking with CIBC even more flexible on their iPhone,” says Sonia Baxendale, president CIBC Retail Markets.

The new mobile banking app also uses GPS technology in the iPhone to help clients find their nearest branch or ABM based on their current location.

Additional enhancements to the mobile banking app will be announced in the coming months.

The CIBC Mobile Banking App is also available on the iPod Touch, which clients can use over a wi-fi connection.

Clients can visit the App Store on iPhone and iPod touch for a free download of the CIBC Mobile Banking App.

Other banks are working to release mobile apps. In November, Bank of Nova Scotia announced a partnership with M-Com, an international mobile banking and payments solution provider, to bring mobile banking to Scotiabank customers in the spring of 2010.

IE