CIBCRSS

Big banks back Canada’s $150m digital ID system

Fully digital mortgage now a reality in Canada

Canada’s big banks have joined the charge for a CA$185 million ($150 million) digital identity supercluster bid that plans to solve the identification challenges of the digital economy. According to IT World Canada, Royal Bank of Canada (RBC), Bank of Montreal, Scotiabank, CIBC, TD Bank and National Bank of Canada – are on board, along […]

Six new banks join UBS-led utility settlement coin plan

UBS wants to cut costs and innovate

The UBS-led effort to create a digital cash model for payments and settlement on blockchain has got six new banks onboard, according to the Financial Times. As Banking Technology reported in August last year, BNY Mellon, Deutsche Bank, ICAP and Santander joined UBS and Clearmatics to advance their utility settlement coin (USC) concept, and plan […]

CIBC goes it alone with new Simplii Financial banking brand

Fully digital mortgage now a reality in Canada

Canada’s banking group CIBC has unveiled Simplii Financial, its new direct banking brand, signalling the end of its President’s Choice (PC) Financial consumer banking business with retailer Loblaw. Mike Boluch, EVP, direct banking, innovation and payments, CIBC, says Simplii will deliver “straightforward, no-fee everyday banking” and offer services by telephone, online, or through mobile and […]

CIBC launches free mobile credit scores in Canada

Fully digital mortgage now a reality in Canada

Canada’s banking group CIBC, fintech firm Borrowell and Equifax Canada have unveiled a free credit score for mobile banking users – a “first for a major Canadian Bank”. The credit score is accessed through the CIBC mobile banking app, and clients can get their Equifax credit score which will be updated quarterly, allowing them to […]

R3, HQLAX and five banks build collateral lending solution on blockchain

Blockchain

Distributed ledger technology (DLT) consortium R3, together with five of its members and financial resource management specialist HQLAX have built a collateral lending solution for liquidity transfers. The solution is based on R3’s flagship platform, Corda, and is “an operating model for a digital collateral receipt (DCR) lending marketplace”.

CIBC automates reg reporting in UK and APAC with Wolters Kluwer’s OneSumX

CIBC in regtech deal with Wolters Kluwer

Canada’s banking group CIBC is implementing Wolters Kluwer’s OneSumX for regulatory reporting across its locations in the UK, Japan, Australia, Hong Kong and Singapore.

Top five jargon winners in 2016

Hand with marker writing: JARGON

For some people in the world of fintech, they find comfort in the language of jargon. Pity these poor souls! Lost, confused and unable to communicate clearly and normally. Here are our top five jargon winners of 2016. You can avoid being on this list next year – just use English!  CIBC ends phase one […]

NAB completes successful international money transfer using blockchain

Bank transfer in seconds – from Australia to Canada via Ripple tech

National Australia Bank (NAB) says it has successfully transferred AU$10 ($7.6) – using Ripple’s blockchain tech – from Australia to Canada. It took ten seconds to process.

CIBC completes phase one of transaction banking tech revamp

Bingo Cards and Chips

Intellect iGTB, the global transaction banking software business of Intellect Design Arena, has implemented its products at CIBC. The project is part of a multi-stage transaction banking and payments tech overhaul at the Canadian banking group.

CIBC promotes NFC payments via BlackBerry

CIBC is hoping to boost uptake of NFC

Canada’s CIBC bank has launched a novel promotion aimed at increasing uptake of NFC technology for mobile payments.

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