CIBC Secures Strategic Agreement with Microsoft for Cloud Platform Service

Canadian Imperial Bank of Commerce said Thursday that it has entered into a strategic relationship with Microsoft Corp. to use its cloud-based platform as part of the bank’s digital transformation.
CIBC said that the multiyear agreement formalizes the Microsoft Azure cloud-computing service as CIBC’s primary cloud platform.
“We’re building and investing in leading-edge technology to accelerate our bank’s transformation [and] our investment in cloud technology is a cornerstone of these efforts,” said Senior Executive Vice-President and Group Head, Technology, Infrastructure and Innovation Christina Kramer.
CIBC said the investment in public cloud technology will also help reinforce and expand its critical foundations in data protection and security.
The platform will support faster, real-time, data-driven decisions, to launch and scale innovations in client experience, CIBC said.

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