CIBC Named Financial Institution Innovator of the Year by Digital Finance Institute

CIBC (TSX: CM) (NYSE: CM) has announced that it was named Financial Institution Innovator of the Year at the Digital Finance Institute‘s Canadian FinTech Awards. This is the Institute’s first year presenting this award as part of its annual recognition of innovators, advisors, and thought leaders in Canada.
As quoted in the press release:

“We are proud to be recognized for our innovative partnerships with the fintech sector as we build the bank of the future for our clients,” says David Williamson, Group Head of Retail and Business Banking, CIBC. “Our clients benefit from our fintech partnerships here in Canada and globally through new and enhanced services, and we look forward to further collaborations in this important market.”
In innovating for its clients, CIBC has engaged in first-of-its-kind partnerships with fintechs Thinking Capital and Borrowell, to bring clients new digital banking solutions like one click lending. This year CIBC also formed a strategic alliance with National Australia Bank (NAB) and Israel’s Bank Leumi to share insights and co-develop products and services. It worked closely with NAB to test Ripple blockchain technology, and successfully completed a cross-border blockchain transfer.

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