CIBC Secures Strategic Agreement with Microsoft for Cloud Platform Service
July 08 2021 - 1:52PM
Dow Jones News
By Adriano Marchese
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.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
July 08, 2021 13:40 ET (17:40 GMT)
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