Competitor Profile: Canadian Imperial Bank of Commerce
CIBC offers a wide range of banking and financial services through its strategic business units. It has launched several in-house innovation hubs, invested in fintech companies, and signed partnerships with technology providers as part of its digital transformation strategy.
The bank has also helped to establish various innovation hubs by connecting with fintech companies. It has mostly invested in and partnered with companies that enable it to optimize operational procedures and costs for itself and its business clients. It has also looked to facilitate more secure banking services for its individual customers.
CIBC is strengthening its focus on the use of innovative technologies to enhance its digital banking capabilities. Cloud computing, AI, blockchain, cybersecurity, mobile, big data, e-commerce, and the office of the future are the company’s key technologies under focus.
This report provides an overview of Canadian Imperial Bank of Commerce's (CIBC's) fintech activities, including insight into its digital transformation strategies; an overview of its technology initiatives; insight into each technology initiative; and details of its estimated ICT budget.
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