Recognized for longstanding innovation leadership by industry authority on payments and secure identity

TORONTO, Nov. 17, 2015 /CNW/ - CIBC (TSX: CM) (NYSE: CM) is pleased to announce that it was recognized with the Most Innovative Organization Award for its longstanding leadership in innovation by ACT Canada at its annual ACT IVIE Awards, held recently in Toronto.

The ACT IVIE awards are presented to companies in the payments and banking industries to recognize the implementation of emerging technologies. CIBC was recognized by ACT Canada for being a "longstanding innovation leader among the major Canadian banks." This follows CIBC being recognized with an ACT IVIE award for payments innovation for the CIBC Tim Hortons Double Double Visa card in 2014.

"We were pleased to acknowledge CIBC as ACT Canada's 2015 Most Innovative Organization," says Catherine Johnston, President and CEO, ACT Canada, in presenting the award. "As an ongoing innovator, the selection committee was impressed by the culture at CIBC of consistently embracing innovation at all levels for the benefit of consumers, to drive the market forward and to stay at the forefront of changes on behalf of their clients."

In just the past year, CIBC introduced numerous innovations to the Canadian market. In 2015, CIBC was the first of the major banks to:

• Collaborate with Canada's major telcos on the new suretap^TM open mobile wallet, allowing clients to store a range of payment cards on their smartphones, including CIBC credit cards
• Introduce a mobile banking app for the Apple Watch
• Enable clients to register for VISA Checkout, making online shopping faster, easier and more secure
• Launch a disruptive, no-fee Global Money Transfer service to better meet the needs of clients who regularly send money overseas

In addition, to deepen client relationships CIBC announced innovative partnerships with:

• TELUS - launched the CIBC TELUS Rewards Visa Card with real-time adjudication/fulfilment offering clients faster, low- cost mobile device upgrades, and expanding payments options for clients
• MaRS Discovery District innovation hub - to collaborate with leading technology talent to create the next wave of banking innovations
• C100, a non-profit based in San Francisco - to support Canadian technology entrepreneurship

"This is a team award, recognizing the many team members across CIBC who collaborate to bring innovations to our clients and build on our bank's position as a leader in convenient banking," says David Williamson, Senior Executive Vice-President and Group Head, Retail and Business Banking, CIBC. "By taking a client focused view of innovation across our bank, we will continue to move first on opportunities to deliver banking that fits with the evolving personal and business banking needs of Canadians."

With a history of innovation since 1867 that includes flying banks for remote communities, mobile banking apps and innovative payments choices, CIBC was also first among the major Canadian banks to introduce the ATM, PCs in branches, telephone banking and online banking.

ACT Canada is an internationally-recognized authority, trusted knowledge resource and catalyst for change in payments and secure identity. ACT Canada hosts its annual IVIE Awards Gala to celebrate innovation and excellence in secure payment and digital ID. The ACT IVIE Most Innovative Organization Award adds to the recognition CIBC has earned recently for our focus on innovations that benefit our clients, including recognition in 2015 from Forrester Research for our leadership in mobile and online banking.

About CIBC

CIBC is a leading Canadian-based global financial institution with nearly 11 million personal banking and business clients and has a track record for innovation. Through our three major business units - Retail and Business Banking, Wealth Management and Capital Markets - 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 in our Media Centre on our corporate website at www.cibc.com.

SOURCE CIBC