Recognized for longstanding innovation leadership by industry
authority on payments and secure identity
TORONTO, Nov. 17, 2015 /CNW/ - CIBC (TSX: CM)
(NYSE: CM) is pleased to announce that it was recognized with the
Most Innovative Organization Award for its longstanding
leadership in innovation by ACT Canada at its annual ACT IVIE
Awards, held recently in Toronto.
The ACT IVIE awards are presented to companies in the payments
and banking industries to recognize the implementation of emerging
technologies. CIBC was recognized by ACT Canada for being a
"longstanding innovation leader among the major Canadian banks."
This follows CIBC being recognized with an ACT IVIE award for
payments innovation for the CIBC Tim Hortons Double Double Visa
card in 2014.
"We were pleased to acknowledge CIBC as ACT Canada's 2015 Most
Innovative Organization," says Catherine
Johnston, President and CEO, ACT Canada, in presenting the
award. "As an ongoing innovator, the selection committee was
impressed by the culture at CIBC of consistently embracing
innovation at all levels for the benefit of consumers, to drive the
market forward and to stay at the forefront of changes on behalf of
their clients."
In just the past year, CIBC introduced numerous innovations to
the Canadian market. In 2015, CIBC was the first of the major banks
to:
- Collaborate with Canada's
major telcos on the new suretapTM open mobile wallet,
allowing clients to store a range of payment cards on their
smartphones, including CIBC credit cards
- Introduce a mobile banking app for the Apple Watch
- Enable clients to register for VISA Checkout, making online
shopping faster, easier and more secure
- Launch a disruptive, no-fee Global Money Transfer service to
better meet the needs of clients who regularly send money
overseas
In addition, to deepen client relationships CIBC announced
innovative partnerships with:
- TELUS - launched the CIBC TELUS Rewards Visa Card with
real-time adjudication/fulfilment offering clients faster, low-
cost mobile device upgrades, and expanding payments options for
clients
- MaRS Discovery District innovation hub - to collaborate with
leading technology talent to create the next wave of banking
innovations
- C100, a non-profit based in San
Francisco - to support Canadian technology
entrepreneurship
"This is a team award, recognizing the many team members across
CIBC who collaborate to bring innovations to our clients and build
on our bank's position as a leader in convenient banking," says
David Williamson, Senior Executive
Vice-President and Group Head, Retail and Business Banking, CIBC.
"By taking a client focused view of innovation across our bank, we
will continue to move first on opportunities to deliver banking
that fits with the evolving personal and business banking needs of
Canadians."
With a history of innovation since 1867 that includes flying
banks for remote communities, mobile banking apps and innovative
payments choices, CIBC was also first among the major Canadian
banks to introduce the ATM, PCs in branches, telephone banking and
online banking.
ACT Canada is an
internationally-recognized authority, trusted knowledge resource
and catalyst for change in payments and secure identity. ACT
Canada hosts its annual IVIE
Awards Gala to celebrate innovation and excellence in secure
payment and digital ID. The ACT IVIE Most Innovative Organization
Award adds to the recognition CIBC has earned recently for our
focus on innovations that benefit our clients, including
recognition in 2015 from Forrester Research for our leadership in
mobile and online banking.
About CIBC
CIBC is a leading Canadian-based global financial institution
with nearly 11 million personal banking and business clients and
has a track record for innovation. Through our three major business
units - Retail and Business Banking, Wealth Management and Capital
Markets - 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
in our Media Centre on our corporate website at www.cibc.com.
SOURCE CIBC