CIBC received an Organization Award for its role in the Global Open Finance Challenge, a virtual event that invited innovators from around the world to develop ideas and solutions to better serve clients and help the public at large access banking services in new ways. The Challenge was centered on three themes: experience, convenience, and sustainability.
To support participants with the development of their solutions, CIBC co-developed a secure sandbox environment which featured a set of shared APIs (Application Programming Interfaces), including a combination of open banking, open finance and experimental services. The API Sandbox environment replicated a bank's existing infrastructure to enable rapid testing with third parties in a secure and safe environment; CIBC is the first bank in
"Our clients' needs continue to evolve, and we continue to seek innovative solutions to better serve them," said Soeren Andreasen, Senior Vice-President, Enterprise Digital and Innovation Officer, CIBC. "This recognition acknowledges CIBC's commitment to collaboration and to building the future of banking."
In total, 91 teams from 19 countries competed in the Challenge, with four teams ultimately selected as winners.
About CIBC
CIBC is a leading North American financial institution with 11 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network and locations 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/en/about-cibc/media-centre.html.
About
The
SOURCE CIBC
© Canada Newswire, source