TORONTO, April 23, 2015 /CNW/ - CIBC today announced
a partnership with MaRS Discovery District to create a new
corporate innovation hub and join MaRS' new FinTech cluster to
support future innovations.
As part of CIBC's new partnership with MaRS, the bank will be
constructing a permanent corporate innovation space for financial
technology. The new facility is expected to be ready this fall,
allowing teams from CIBC to collaborate with leading technology
talent and continue to focus on developing the next wave of banking
innovations for clients.
"Partnerships and innovation are the key to building the bank of
the future, which is why we are excited about the opportunity to
further our commitment to innovation with MaRS," said Aayaz Pira,
Vice President, Digital Channels, CIBC. "The opportunity to have
our team work alongside top design talent and entrepreneurs in a
collaborative environment will further our leadership in developing
the innovations that will change the way Canadians bank."
CIBC's collaboration with MaRS has already supported the bank's
focus on innovation. The CIBC Mobile Banking app for Apple Watch
was conceived by CIBC team members based at MaRS, where development
was accelerated through CIBC's ability to quickly prototype the
watch with business and technology teams working side by side.
"MaRS is committed to building bridges between corporations and
best-in-class entrepreneurs," says Salim
Teja, EVP, Venture Services at MaRS. "Having just launched
our new FinTech cluster, we are thrilled to have CIBC as founding
partner of MaRS' corporate innovation hub. This space will help
industry leaders leverage startup talent to boost creativity and
innovation in Canada's financial
services sector."
About CIBC
CIBC is a leading Canadian-based global financial institution
with 11 million personal banking and business clients. Through our
three major business units - Retail and Business Banking, Wealth
Management and Wholesale Banking - CIBC offers a full range of
products and services through its comprehensive electronic banking
network, branches and offices across Canada with offices in the United States and around the world. You
can find other news releases and information about CIBC on our
corporate website at www.cibc.com/ca/media-centre/.
About MaRS Discovery District
MaRS Discovery District (@MaRSDD) in Toronto is one of the world's largest urban
innovation hubs. MaRS cultivates high-impact ventures and equips
innovators to drive economic and societal prosperity. MaRS provides
expert advice and market research, and makes connections to talent,
customers and capital. MaRS startup ventures have created 6,500
jobs and, in the last three years alone, they have raised
$1 billion in capital and generated
$500 million in revenue.
MaRS' Financial Technology (FinTech) Cluster connects the
financial services sector with startups developing next generation
technology in emerging payments, financial services, peer-to-peer
transactions, and alternative lending.
SOURCE CIBC