Canadian Imperial Bank of Commerce – Digital Transformation Strategies
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Canadian Imperial Bank of Commerce (CIBC) has been focusing on using artificial intelligence, cloud, blockchain, and online payments to digitally transform its operations. The annual ICT spending of CIBC was estimated at $861 million for 2021. A major share of this spending is earmarked for acquiring software, ICT services and hardware from vendors. CIBC is a provider of personal, small business, and commercial and corporate banking solutions. Under personal banking it offers accounts, overdrafts, credit cards, loans, mortgages, investments, retirement planning, travel and creditor insurance, advisory, and other supporting solutions.
The CIBC digital transformation strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. Information included in these reports are sourced from a mix of our very own internal database and authentic secondary research links such as company’s annual report, presentations, press releases etc. The report covers overview of the company, its digital transformation strategies, technology focus areas, accelerators & in-house labs, technology partnerships, technology introductions, investments, and ICT spending among others.
Digital Transformation Strategies
CIBC focuses on simplifying banking through innovative products and services offered via digital channels. It has launched various initiatives to streamline banking processes through digitization and automation. These include remote cheque deposit for mobile devices, leveraging AI for customer interactions, and adopting cloud to accelerate the delivery of new products and services.
To gain more insights on digital transformation strategies and initiatives of CIBC, download a free report sample
CIBC Technology Theme Focus
CIBC is utilizing a number of emerging technologies including cloud, blockchain, and big data among others to enhance its digital banking capabilities.
CIBC Technology Theme Focus
To know about other technology themes under focus for the company, download a free report sample
CIBC Technology Initiatives
CIBC has been involved in several strategic technology partnerships and collaborations, technology developments and roll outs, and technology investments over the last few years. For instance, in 2018, CIBC partnered with Paymi, a card-linking technology provider, to offer cashback to card holders on purchases made at Paymi’s merchant partners. This partnership helps CIBC enhance its customers’ experience by offering rewards and allowing them to automatically spend them on daily purchases.
For more insights on other technology initiatives of CIBC, download a free report sample
CIBC ICT Spend by Function
- Data center
- Communications
- Network
- Applications
- End-user computing
- Management
- ICT Service desk
CIBC ICT Spend by Function
For more insights on ICT spending by function, download a free report sample
CIBC ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- Telcos
- ICT services providers/consulting firms
- Specialist outsourcers
- Systems integrators
CIBC ICT Spend by Channel
For more insights on ICT spending by channel, download a free report sample
CIBC External ICT Spend by Segment
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- ICT services
- Consulting
- Network and communications
- Others
CIBC External ICT Spend by Segment
For more insights on external ICT spending by segment, download a free report sample
CIBC Digital Transformation Strategies Overview
Total ICT Spending 2021 | $861 million |
ICT Spend by Function | Data center, Communications, Network, Application, End-User computing, Management, and Service desk |
ICT Spend by Channel | Internal development and maintenance, Technology vendors (direct), Local resellers, Telcos, ICT services providers/consulting firms, Specialist outsourcers, and Systems integrators |
External ICT Spend by Segment | Software (including cloud SaaS), Hardware (including cloud Iaas), ICT services, Consulting, Network and communications, and Others |
Technology Theme Focus | Cloud, Blockchain, and Big Data |
This report provides:
- Insight into CIBC’s technology activities.
- Insights of its accelerators & in-house labs.
- Overview of technology initiatives covering partnerships, technology introductions, and investments.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets.
Reasons to Buy
- Gain insights into CIBC’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various partnerships.
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Table of Contents
Frequently asked questions
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What was the total ICT spending of CIBC in 2021?
The annual ICT spending of CIBC was estimated at $861 million in 2021.
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What are the key ICT spending categories by function for CIBC?
The key ICT spending categories by function for CIBC are communications, data center, network, applications, end-user computing, ICT service desk, and management.
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What are the key ICT spending categories by channel for CIBC?
The key ICT spending categories by channel for CIBC are internal development and maintenance, technology vendors (direct), local resellers, telcos, ICT services providers/consulting firms, specialist outsourcers, and systems integrators.
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What are the key external ICT spending categories by segment for CIBC?
The key external ICT spending categories by segment for CIBC are ICT services, software (including cloud SaaS), hardware (including cloud IaaS), ICT services, network and communications, consulting, and others.
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What are the key technology themes in focus for CIBC?
The key technological theme in focus for CIBC are cloud, blockchain, and big data.
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