Toronto-based Canadian Imperial Bank of Commerce (CIBC) may be a traditional bank, but the firm was recognized for its interest in new financial technology (fintech) when it was named Financial Institution Innovator of the Year at the 2016 Canadian FinTech Awards in Toronto on Monday.
The Digital Finance Institute, a Vancouver-based think tank, gave out the awards to honour Canadian innovation and acknowledge successful leadership in fintech companies and startups.
CIBC was recognized for the partnerships it has forged with two Canadian fintech lending companies: Toronto-based Borrowell Inc. and Montreal-based Thinking Capital Financial Corp.
“We are proud to be recognized for our innovative partnerships with the fintech sector as we build the bank of the future for our clients,” says David Williamson, group head of retail and business banking, CIBC, in a statement. “Our clients benefit from our fintech partnerships here in Canada and globally through new and enhanced services, and we look forward to further collaborations in this important market.”
The Digital Finance Institute gave out 10 awards at the Canadian FinTech Awards, including the Financial Institution Innovator of the Year Award. The remaining award winners are as follows:
- Investor of the Year Award – OMERS Ventures
- Global Impact Award – Kosta Peric, Bill & Melinda Gates Foundation; Innotribe at SWIFT
- Academic Institution Most Supportive of FinTech Award – Zone Startup – Ryerson University
- Governance, Thought Leader or Organization of the Year Award – FinTech Association of Canada
- Professional Services Firm of the Year Award – Wildeboer Dellelce LLP
- Accelerator, Incubator or Entrepreneurial Network Award – DMZ
- FinTech of the Year – Incumbent Award – Thinking Capital
- FinTech of the Year – Startup Award – Wealthsimple
- Judge’s Choice Award – Tapscott Group; Ferst Capital Partners
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