The Canadian Imperial Bank of Commerce – Digital Transformation Strategies
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CIBC Digital Transformation Strategies Report Overview
CIBC is tapping the power of emerging technologies as a part of its digital transformation strategies. The annual ICT spending of CIBC was estimated at $3.2 billion in 2022. A major share of this spending is earmarked for acquiring software, ICT services, and hardware from vendors. Canadian Imperial Bank of Commerce (CIBC) is a provider of personal, small business, and commercial, and corporate banking solutions. Under personal banking, it offers accounts, overdraft protection, credit cards, loans and mortgages, investments, retirement planning, travel and creditor insurance, advisory, and other supporting solutions.
|Total ICT Spending 2022||$3.2 billion|
|ICT Spend by Function||Communications, Data Center, Network, Application, End-User Computing, Service Desk, and Management|
|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||ICT services, Software (including Cloud SaaS), Hardware (including Cloud Iaas), Network and communications, Consulting, and Others|
|Technology Theme Focus||Artificial Intelligence, Big Data, Blockchain, Cloud, and Open Banking|
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, technology initiatives, technology introductions, partnerships, investment, ICT spending among others.
Digital Transformation Strategies
CIBC focuses on simplifying banking through innovative products and services offered via digital channels. It had launched various initiatives to streamline banking processes through digitization and automation. These include leveraging AI for customer interactions and adopting cloud to accelerate the delivery of new products and services. It has digitized its urban banking centers as part of its network transformation.
To gain more insights on digital transformation strategies and initiatives of CIBC, download a free report sample
CIBC Technology Theme Focus
CIBC is utilizing number of emerging technologies including artificial intelligence, big data, blockchain, cloud, and open banking to enhance operational efficiency and product offerings.
CIBC Technology 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 over the past few years. For instance, CIBC and Simplii Financial enhanced their global money transfer platform in collaboration with Citi WorldLink’s cross-border payments solution and Alipay. This allowed clients to make transfers directly from their Simplii Financial or CIBC bank accounts to Alipay mobile wallet users in real-time with no transfer fees.
For more insights on other technology initiatives of CIBC, download a free report sample
CIBC ICT Spend by Function
- Data center
- End-user computing
- Service desk
CIBC ICT Spend by Function, 2022(%)
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
- ICT services providers/Consulting firms
- Specialist outsourcers
- Systems integrators
CIBC ICT Spend by Channel, 2022(%)
For more insights on ICT spending by channel, download a free report sample
CIBC External ICT Spend by Segment
- ICT services
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- Network and communications
CIBC External ICT Spend by Segment, 2022(%)
For more insights on external ICT spending by segment, download a free report sample
This report provides:
- Insight into CIBC ‘s technology activities.
- Insights of its digital transformation strategies and technology center & innovation program.
- Overview of technology initiatives covering product launches, partnerships, and investments.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets and major ICT contracts.
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 product launches, partnerships, and investments.
Table of Contents
– Brief information about the company, its business divisions and its financials
Digital Transformation Strategy
– A summary of key digital strategies/implementation efforts of the company
Accelerators, Incubators, and Other Innovation Programs
– Discusses the company’s key strategic units, innovation labs, incubation and accelerator programs dedicated to technology innovation
– Lists the technology themes pertinent to the industry the company operates in and highlights the themes adopted by the company
– Discussion about all the technology introductions & partnerships the company has entered
– Brief discussion about the investments made by the company to acquire new technologies
Partnership and Investment Network Map
– A bird’s eye view of all the partnerships/investments/acquisitions that the company has made in the last 3-5 years
ICT Budget and Contracts
– The company’s ICT budget segregated into hardware, software, and managed IT services
– Lists key executives and Digital Transformation Executives of the company, typically the key decision makers/influencers
Frequently asked questions
What was the total ICT spending of CIBC in 2022?
The annual ICT spending of CIBC was estimated at $3.2 billion in 2022.
Which was the leading ICT spending category by function for CIBC?
Data center was the leading ICT spending category by function for CIBC in 2022.
Which was the leading ICT spending category by channel for CIBC?
Internal development and maintenance was the leading ICT spending category by channel for CIBC in 2022.
Which was the leading ICT spending category by segment for CIBC?
Software (including cloud SaaS) was the leading ICT spending category by segment for CIBC in 2022.
What are the key technology themes in focus for CIBC?
The key technological theme in focus for CIBC are artificial intelligence, big data, blockchain, cloud, and open banking.
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