CIBC and the yet to be launched Union Pearson Express (UP Express) announced a strategic partnership in an effort to improve the travel experience of those riding between Toronto Pearson International Airport and Union Station.
The bank will provide services that will enhance the transit service by giving travelers access to Canadian and foreign money via multi-currency automatic teller machines. A CIBC UPstairs lounge to be located at Union will offer travelers a social and resting space. CIBC will also sponsor wifi on the UP Express trains and stationed, enabling passengers to stay connected to the Internet.
CIBC will also have exclusivity in not just offering its financial services, but marketing them as well. This is particularly significant given it is bridging two of the world's busiest transportation hubs.
Financial Travel Services
CIBC and the UP Express are Teaming Up to Serve Travelers Better
Trend Themes
1. Multi-currency ATM Services for Travelers - Providing convenience to travelers by offering multi-currency ATM services that allow access to foreign currency in an efficient manner.
2. Lounge and Resting Spaces for Travelers - Creating exclusive resting spaces in transit areas that offer services beyond standard lounges.
3. Sponsorship of Transit Wifi - Providing sponsored WiFi on trains and at stations that facilitates seamless access to the Internet via cell phones, tablets and laptops.
Industry Implications
1. Banking and Financial Services - Partnering with transit services and offering exclusivity of services to improve the travel experience and customer interactions.
2. Transportation and Logistics - Building strategic partnerships to offer innovative service and product offerings that enhance the overall travel experience.
3. Hospitality and Travel - Providing clients with additional amenities beyond standard services, such as exclusive lounges and rest spaces, that create differentiation and add value.