TORONTO, June 12, 2014 /CNW/ -  CIBC (TSX: CM) (NYSE: CM) announced today that it has been recognized with the Business Transformation Award from Pegasystems Inc. for use of their technology in the development of a new sales and product origination platform.

Pegasystems Inc. recognizes companies that have successfully leveraged Pega technology and its Build for Change^® thinking to improve the overall customer experience and increase business productivity and innovation.

The new platform will allow CIBC advisors to have more comprehensive sales and service conversations in less time, and make recommendations that meet client needs and facilitate deeper banking relationships with CIBC.

"This recognition speaks to our continued commitment to enhancing the client experience and making banking easy, personalized, and flexible," said Laura Money, Senior Vice President, Strategic Initiatives, CIBC. "We continue to invest in innovative technology that enables CIBC to better meet the needs of our clients today and in the future, and our new multi-product sales and origination platform is a great example of bringing innovative thinking to our branches across Canada."

CIBC was the only North American bank to receive the 2014 Business Transformation award which was presented at PEGAWorld 2014, a conference showcasing customers and partners that have used Pegasystems software for innovative transformation.

This recognition builds on CIBC's multi-year commitment to innovation for its clients. In 2010 CIBC became the first bank in Canada to deliver a mobile banking app to clients, and in 2012 became the first Canadian bank to launch a mobile payments app to allow clients to make credit card purchases using their smartphone. Last year, CIBC was first among the big five Canadian banks to deliver eDeposit allowing both personal and small business clients to deposit cheques using the camera on their mobile device.

About CIBC
CIBC is a leading North American financial institution with nearly 11 million personal banking and business clients. CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada, and has offices in the United States and around the world. You can find other news releases and information about CIBC in our Media Centre on our corporate website at www.cibc.com.

SOURCE CIBC