TORONTO, April 23, 2015 /CNW/ - CIBC today announced a partnership with
MaRS Discovery District to create a new corporate innovation hub and
join MaRS' new FinTech cluster to support future innovations.
As part of CIBC's new partnership with MaRS, the bank will be
constructing a permanent corporate innovation space for financial
technology. The new facility is expected to be ready this fall,
allowing teams from CIBC to collaborate with leading technology talent
and continue to focus on developing the next wave of banking
innovations for clients.
"Partnerships and innovation are the key to building the bank of the
future, which is why we are excited about the opportunity to further
our commitment to innovation with MaRS," said Aayaz Pira, Vice
President, Digital Channels, CIBC. "The opportunity to have our team
work alongside top design talent and entrepreneurs in a collaborative
environment will further our leadership in developing the innovations
that will change the way Canadians bank."
CIBC's collaboration with MaRS has already supported the bank's focus on
innovation. The CIBC Mobile Banking app for Apple Watch was conceived
by CIBC team members based at MaRS, where development was accelerated
through CIBC's ability to quickly prototype the watch with business and
technology teams working side by side.
"MaRS is committed to building bridges between corporations and
best-in-class entrepreneurs," says Salim Teja, EVP, Venture Services at
MaRS. "Having just launched our new FinTech cluster, we are thrilled to
have CIBC as founding partner of MaRS' corporate innovation hub. This
space will help industry leaders leverage startup talent to boost
creativity and innovation in Canada's financial services sector."
CIBC is a leading Canadian-based global financial institution with 11
million personal banking and business clients. Through our three major
business units - Retail and Business Banking, Wealth Management and
Wholesale Banking - 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 on
our corporate website at www.cibc.com/ca/media-centre/.
About MaRS Discovery District
MaRS Discovery District (@MaRSDD) in Toronto is one of the world's largest urban innovation
hubs. MaRS cultivates high-impact ventures and equips innovators to
drive economic and societal prosperity. MaRS provides expert advice and
market research, and makes connections to talent, customers and
capital. MaRS startup ventures have created 6,500 jobs and, in the last
three years alone, they have raised $1 billion in capital and generated
$500 million in revenue.
MaRS' Financial Technology (FinTech) Cluster connects the financial
services sector with startups developing next generation technology in
emerging payments, financial services, peer-to-peer transactions, and
For further information:
Caroline Van Hasselt, Director, External Communications, 416-784-6699 or firstname.lastname@example.org