KINGSTON, Jamaica — CIBC Caribbean has introduced a digital platform that allows small businesses in Jamaica to open bank accounts entirely online, as lenders expand remote services for entrepreneurs.

The Business Banking Digital Client Onboarding (DCO) system enables business owners to upload required documents, verify information and complete onboarding without visiting a branch.

Jamaica is among the first markets where the feature has been rolled out, alongside Antigua and Barbuda, Barbados, St Kitts and Nevis, and St Lucia. The bank said it plans to extend the platform to its remaining Caribbean territories in the coming months.

Deepa Boucaud, executive director for personal and business banking at CIBC Caribbean, said the system replaces paper-based processes with digital interactions designed to reduce account opening times and simplify compliance requirements.

She said the platform includes a financial activity capture tool that allows new or early-stage businesses to provide estimated income and expense information electronically, reducing the need for formal financial statements for certain low-risk sole proprietors. The system also adapts documentation requirements to the regulatory framework of each jurisdiction.

Boucaud said the bank expects the enhanced onboarding process to improve data quality, strengthen anti-money laundering controls and shorten processing times.

CIBC Caribbean operates in 10 Caribbean countries and reports approximately US$13 billion in assets.