News

Fla. kiosks to sell mutual funds

March 20, 2002

Toronto, Ontario-based Canadian Imperial Bank of Commerce (CIBC) is selling investment products through non-staffed kiosks in grocery stores in Florida, according to an online news report in American Banker.

Customers can invest in four index funds and a money market fund at Florida's Winn-Dixie Stores Inc. supermarkets. Winn-Dixie operates 100 supermarkets there, the report stated.

According to American Banker, Whatifi Financial Inc. of Boston, an online investment firm, will manage the funds offered at the kiosks. Accounts are available for as low as $100, and can be opened at the kiosks.

The Business Journal of Jacksonville and Northeast Florida reported in June 1999 that CIBC had signed a deal with Winn-Dixie to provide financial services, ATMs and kiosks.