CIBC completes phase one of transaction banking tech revamp
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. iGTB reports that “phase one of the bank’s next generation payments infrastructure for business” has been completed.
In a one-sentence statement that would itself complete the marketing jargon bingo card, Phil Griffiths, SVP and head of global transaction banking, CIBC, says:
“CIBC is focused on innovation [check] that makes a difference for our clients [check], and leveraging this new platform [check] enhances our ability to deliver new capabilities [check], support emerging technologies such as blockchain [check and check], and positions us well to lead in the rapidly evolving payments market in Canada and the US [check, check and check] as they move towards real-time payments [check] and transmitting enhanced remittance data [check].”