Recognized by Global Finance Magazine for client service and innovation

TORONTO, March 13, 2017 /CNW/ - CIBC (TSX: CM) (NYSE: CM) announced today that Global Finance Magazine named CIBC as the Best Treasury and Cash Management Bank in Canada, emphasizing the bank's focus on client service and innovation.  

"We are honoured to be awarded Canada's Best Treasury and Cash Management Bank," says Phil Griffiths, Senior Vice President, Global Transaction Banking, CIBC. "This recognition underscores the commitment we've made to deliver flexible, innovative solutions to our clients. We have made a number of investments in our cash management solutions to meet the needs of our clients and help them grow their business."

"The demand is high for real-time and mobile cash management solutions," says Mr. Griffiths. "With the rapid increase in the use of digital technology to manage cash flow more efficiently, our clients are looking for solutions to meet their evolving payment needs."

CIBC has introduced several first-to-market innovations for its business clients over the last few years, including:

• CIBC eDeposit offers the ability to deposit cheques without ever leaving the office.
• eDeposit for Cash is a partnership with Brink's Canada that requires a smart safe and uses a secure connection to CIBC to credit clients for cash on hand, even before it has reached the bank for deposit.
• CIBC Mobile Business App allows clients to perform a range of cash management functions, including payment approvals, using their mobile device.
• Payfirma Merchant Services gives clients the ability to accept debit and credit card payments across multiple channels including mobile, in-store and online.

A recognized leader in innovation, CIBC is developing leading-edge technologies both in-house and through strategic partnerships with fintechs and international banks to make banking easier and more convenient for clients. Last year, CIBC formed a strategic alliance with National Australia Bank (NAB) and Israel's Bank Leumi to collaborate and share aspects of their proprietary innovation strategies to enhance their respective client experiences. In the lead up to the partnership agreement, CIBC and NAB successfully tested a cross-border blockchain transfer, aimed at making cross-border payments faster and more cost effective.

This is the second time that Global Finance has recognized CIBC in this category.

More information about the winners is available at GFMag.com

About CIBC

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 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. Ongoing news releases and more information about CIBC can be found at www.cibc.com/ca/media-centre/ or by following on Twitter @CIBC, Facebook (www.facebook.com/CIBC) and Instagram @CIBCNow.

SOURCE Canadian Imperial Bank of Commerce